low fees and charges

Health Super members can enjoy healthy account balances with low fees and costs. Health Super is a value for money industry fund run only to benefit our members.

It’s important to get smart with your super account, and take the time to work out the fees and charges your super fund is taking out of your account. Over time, even a small difference in fees and charges can make a large difference to your final super balance.

 

compare our fees

With Health Super you won’t pay:

• establishment or contribution fees
• withdrawal or termination fee

type of fee or cost	amount2	how and when paid
fees when your money moves in or out of your Health Super account
establishment fee Fee to open a Health super account.		n/a
contribution fee Fee on each amount contributed.		n/a
withdrawal fee Fee on each amount you take out of your Health Super account.		n/a
termination fee Fee to close your Health Super account.		n/a
management costs
The fees and costs for managing your investment.	account-keeping  fee $75.40 pa	The account-keeping fee is calculated pro-rata and  deducted from your account annually in advance on  1 July or the date you joined the Health Super Fund.
	asset fee3 Up to 0.10% pa	The asset fee is deducted from the Health Super Fund before the calculation of investment returns.
The investment managers'  fee for each individual Member Investment Choice is in Health Super's current Product Disclosure Statement.	estimated investment  managers' fees 0.15 - 0.93% pa	The investment managers' fees are deducted from the Health Super Fund before the calculation of investment returns.
services fees
investment switching fee The fee for changing your Member Investment Choice options.		n/a
adviser service fee Commissions and/or fees paid to your investment adviser.		n/a

 

2. All figures disclosed are inclusive of GST and the estimated impact of reduced input tax credits (where known)
3. The Asset Fee maybe charged for cost recovery purposes when the Account-Keeping Fee is insufficient to administer the fund or to fund extraordinary expenses. It was not charged for the 2003/04, 2004/05 and 2005/06 financial years, but an amount of 0.10% was charged for the 2006/07 financial year. In future years, an Asset Fee of up to 0.10% may be charged and allocated to the Administration Reserve Account. For more information about the Administration Reserve Account, see the current Health Super Product Disclosure Statement

 

 

example: what fees and charges would I pay for a year?

This example shows the annual fees and costs for Health Super’s Medium-Term Growth (Standard) investment option for a 1-year period. 

Medium-Term Growth option1	balance of $50,000 with total contributions of $5,000 during year
Contribution fees.		For every $5,000 you put in, you will be charged $0.
plus  management costs	account-keeping fee $75.40 pa estimated investment managers' fee $275 pa asset fee2 $50 pa (up to 0.10%)	And, for every $50,000 you have in the fund you will be charged up to $325 each year plus $75.40 regardless of your balance.
equals Cost of fund.		If you had an investment of $50,000 at the beginning of the year and you put in an additional $5,000 during that year, you will be charged fees of up to $400.403. What it costs you will depend on the investment option you choose and the fees you negotiate with the fund or the financial adviser4.

 

1. Under Government legislation, the Medium-Term Growth (standard) investment option is considered the Balanced investment option for the purposes of this example.
2. The asset fee is charged for cost recovery purposes. It was not charged for the 2003/04, 2004/05 and 2005/06 financial years. For the financial year ending 30 June 2007 the Asset Fee of 0.10% will be charged and allocated to the Administration Reserve Account.
3. Additional costs may apply, for example insurance costs (see Health Super's current Product Disclosure Statement for more details).
4. Health Super's management costs are not negotiable.

 

read our complete breakdown of all fees and costs with Health Super

It’s important you read through our current Product Disclosure Statement to understand all about your Health Super accounts. This document will also further explain Health Super’s fees and charges.