What are the fees?
Here is an overview of the fees and costs that may be charged to your pension account with Australian Ethical.
You need to read our Super Product Disclosure Statement for the full list and explanation of fees and costs, as well as examples of how these fees and costs affect your investment.
Please see our Notices page for details of all historic updates.
If you are a Transition To Retirement (TTR) member, please see the Super fees page for the fees applicable to your account.
Ongoing annual fees and costs1
Administration fees and costs
Dollar based fees are deducted from your account monthly. Percentage administration fees are paid from the Fund’s assets prior to unit prices being calculated.
Investment fees and costs
Investment fees are accrued daily and paid from the Fund’s assets. Fees are calculated as a percentage of the daily net asset value of each option. The investment fee you pay will depend on the investment options you are invested in.
$ Investment fees and costs include indirect costs which were 0.15% p.a. for the Conservative option, 0.13% p.a. for the Balanced option and 0.14% for the Growth option for the 12 month period ending 30 June 2024.
~ Investment fees and costs includes an amount of 0.01% for the Growth option for performance fees. The calculation basis for this amount is set out under ‘Additional Information of fees and costs' in section 5 of the Additional Information Booklet.
Net transaction costs
Transaction costs are calculated at 30 June each year based on the previous 12 months.
Member activity related fees and costs
Buy-sell spread**
Applied to the unit price before processing each buy and sell transaction.
**The transaction costs incurred in the year to 30 June 2024 were fully recovered by the buy-sell spread except for the International Shares, Australian Shares and Conservative options where 0.01% was not covered and the High Growth and Balanced (accumulation) option where 0.03% was not recovered and the growth option where 0.05% was not covered.
Switching fee
You may incur a buy-sell spread whenever units are bought or sold including by way of switching. However, you won’t be charged a switching fee in addition to the buy-sell spread.
Other fees and costs
Other fees and costs such as Insurance fees may apply. See ‘Additional explanation of fees and costs’ in Section 5 of the Additional Information Booklet.
1. If your account balance for a product offered by the Fund is less than $6,000 at the end of the Fund’s income year certain fees and costs charged to you in relation to administration and investments are capped at 3% per annum of the account balance. Any amount charged in excess of that cap must be refunded.
The fee relates to costs incurred by the trustee of the superannuation entity that are directly related to an activity of the trustee:
i. that is engaged in at the request, or with the consent, of a member; or
ii. that relates to a member and is required by law; and
iii. those costs are not otherwise charged as administration fees and costs, investment fees and costs, transaction costs, a buy sell spread, a switching fee, an advice fee or an insurance fee.
Administration fees and costs are fees and costs that relate to the administration or operation of the superannuation entity and includes costs incurred by the trustee of the entity that:
a. relate to the administration or operation of the entity; and
b. are not otherwise charged as investment fees and costs, a buy-sell spread, a switching fee, an activity fee, an advice fee or an insurance fee.
A fee is an advice fee if:
a. the fee relates directly to costs incurred by the trustee of the superannuation entity because of the provision of financial product advice to a member by:
i. a trustee of the entity; or
ii. another person acting as an employee of, or under an arrangement with, the trustee of the entity; and
b. those costs are not otherwise charged as administration fees and costs, investment fees and costs, a switching fee, an activity fee or an insurance fee.
A buy sell spread is a fee to recover costs incurred by the trustee of the superannuation entity in relation to the sale and purchase of assets of the entity.
An exit fee is a fee, other than a buy-sell spread, that relates to the disposal of all or part of a member’s interests in a superannuation entity.
An investment fee is a fee that relates to the investment of the assets of a superannuation entity and includes:
(a) fees in payment for the exercise of care and expertise in the investment of those assets (including performance fees); and
(b) costs that relate to the investment of assets of the entity, other than:
(i) borrowing costs; and
(ii) indirect costs that are not paid out of the superannuation entity that the trustee has elected in writing will be treated as indirect costs and not fees, incurred by the trustee of the entity or in an interposed vehicle or derivative financial product; and
(iii) costs that are otherwise charged as an administration fee, a buy-sell spread, a switching fee, an activity fee, an advice fee or an insurance fee.
A switching fee:
(a) for a MySuper product—is a fee to recover the costs of switching all or part of a member’s interest in a superannuation entity from one class of beneficial interest in the entity to another
(b) for a superannuation product other than a MySuper product—means a fee to recover the costs of switching all or part of a member’s interest in the superannuation entity from one investment option or product in the entity to another.
A fee is an insurance fee if:
(a) the fee relates directly to either or both of the following:
(i) insurance premiums paid by the trustee, or the trustees, of a superannuation entity in relation to a member or members of the entity;
(ii) costs incurred by the trustee, or the trustees, of a superannuation entity in relation to the provision of insurance for a member or members of the entity; and
(b) the fee does not relate to any part of a premium paid or cost incurred in relation to a life policy or a contract of insurance that relates to a benefit to the member that is based on the performance of an investment rather than the realisation of a risk; and
(c) the premiums and costs to which the fee relates are not otherwise charged as an administration fee, an investment fee, a switching fee, an activity fee or an advice fee.