Fees and charges

Media Super is run only to benefit members. We're committed to keeping fees low. Our low fee structure applies to both super accounts and pensions.

Investment fee1

Amount
How and when paid

Varies from 0.03% to 0.37% p.a. of your account balance, plus $203.50 p.a. if you’re invested in the Direct Investment option ((indexed annually on 1 April with Average Weekly Ordinary Time Earnings as per other indexed fees, but only applies where the indexation to the pre-GST fee is $4 or more and, if so, the pre-GST fee will increase by $5 or the nearest multiple of $5).

The investment fee consists of two components – (1) an amount is deducted from the investment options, excluding the Direct Investment option and the LifetimePlus option, on a weekly basis prior to the unit prices being calculated, and (2) an estimate of costs which are not charged as a fee but
are paid from the Fund’s assets (in a manner similar to the indirect cost ratio).

 

For any portion of your account balance invested in the Direct Investment option, this fee will be calculated then deducted from your account balance at the end of every month, or on ceasing to hold the option.

 

The $203.50 p.a. Direct Investment option fee is deducted from your account balance at the end of every month and when you exit the Fund.

 

An investment fee of 0.05% p.a. of your investment in LifetimePlus is charged. This fee is calculated based upon amounts invested in LifetimePlus, and is deducted monthly or on ceasing to hold the option, from your account balance in non-LifetimePlus investment options (other than the Direct Investment option).

 

 

Administration fee1

Amount
How and when paid

$65 p.a. ($1.25 per week) plus 0.10% p.a. of your account balance

The fixed administration fee is deducted from your account balance at the end of every month and when you exit the Fund.

 

The administration fee of 0.10% p.a. is deducted from the investment options, excluding the Direct Investment option, on a weekly basis prior to the unit prices being calculated, which reduces the return on your investment.

 

For any portion of your account balance invested in the Direct Investment option, this fee will be calculated then deducted from your account balance at the end of every month, or on ceasing to hold the option.

 

An administration fee of 0.10% p.a. is charged for your investment in LifetimePlus. This fee is alculated based upon amounts invested in LifetimePlus, and is deducted monthly or on ceasing to hold the option, from your standard account balance in non-LifetimePlus investment options (other than the Direct Investment option).

 

 

Buy-sell spread1

Amount
How and when paid

Nil

Not applicable. The Trustee does not currently charge a buy-sell spread, but reserves the right to do so.

 

 

Switching fee1

Amount
How and when paid

$30

The switching fee will be deducted from your account at the effective date of each investment switch you make. The fee is waived for your first switch if it is received by Media Super within 30 days of joining the Fund.

 

If you switch from the LifetimePlus investment option, a withdrawal deduction will be charged to your account in addition to any switching fee that may apply.
 

 

Advice fees relating to all members investing in a particular MySuper product of investment option1

Amount
How and when paid

Nil

Not applicable
 

 

Exit fee1

Amount
How and when paid

$67.04

(indexed annually against Average Weekly Ordinary Time Earnings on 1 April)

The exit fee is deducted from your account in the following circumstances:

 

• When you transfer or withdraw all, or part, of your account balance from Media Super (excludes regular pension income stream payments and whole withdrawals to re-invest in a new Media Super Pension.)

 

• Your account balance is transferred to the ATO as unclaimed super.

 

• Your benefit is transferred to Media Super’s Eligible Rollover Fund, AUSfund.

 

If you are invested in the LifetimePlus investment option and part or all of your account balance in LifetimePlus is transferred or withdrawn from Media Super, a withdrawal deduction (see ‘Switching fee’ above) will be charged to your account in addition to any exit fee that may apply.

 

 

Other fees and costs1

Activity fees

Amount
How and when paid

Family law application for information
$109.20 (indexed annually on 1 April in line with Average Weekly Ordinary Time Earnings)

 

The fee must be paid by cheque on application.
 

Family law benefit split
$84.68 (indexed annually on 1 April in line with Average Weekly Ordinary Time Earnings)

If the non-member spouse receives the entire benefit, the entire fee is deducted from their entitlement. If the non-member spouse receives only a portion of the benefit, half the fee is deducted from their entitlement, and the other half from the member’s account balance. The fee is payable when the benefit split is processed.

 

 

Brokerage fees - Direct Investment option only

Amount
How and when paid

Trade value

$

Brokerage (including GST)

Brokerage will be charged on each equity transaction within the Direct Investment option, and shall be added to the purchase price of a buy transaction or deducted from the sale proceeds of a sell transaction.

0 - 4,167

$13.75 (flat fee)

4,168 - 10,000

0.33%

10,001 - 30,000

0.22%

30,001 - 50,000

0.198%

50,001 - 100,000

0.165%

100,01+

0.11%

 

Term deposit break fee - Direct Investment option only

Amount
How and when paid

Typically around 25% of the outstanding accrued interest amount on the term deposit. However, this will vary depending on the term deposit provider.

The term deposit break fee is charged if a term deposit within the Direct Investment option is broken prior to maturity, and is deducted from the outstanding interest payment amount.
 

 

LifetimePlus withdrawal deduction

Amount
How and when paid

A withdrawal from LifetimePlus can be a full withdrawal, a partial withdrawal, or a shortfall payment (see the LifetimePlus Product Disclosure Statement, available at mediasuper.com.au/resources for details of these types of withdrawals).

 

In addition to any switching fee or exit fee that may apply, a withdrawal deduction will be applicable if you die or choose to withdraw (including switch) from LifetimePlus.

 

During the cooling-off period the withdrawal deduction is $nil.

 

For the ten years after the cooling-off period the withdrawal deduction is $0.05 per unit withdrawn.

 

From 1 July of the 13th year from when you invested in LifetimePlus the withdrawal deduction per unit withdrawn is the sum of:

  • $0.05 plus
  • $0.01 for each $0.01 received per unit in investment earnings and living bonuses since 1 July in the 13th year after investment.

The withdrawal deduction is reflected in the withdrawal unit price. The withdrawal unit price may be $0.00 for investors that have invested in LifetimePlus for many years and have received distributions in excess of the amount invested.

The amount of withdrawal deductions is applied to your balance in LifetimePlus, which will consequently reduce at the time of the withdrawal being processed.

All withdrawal deductions are paid into the living bonus pool to fund the living bonus payment to other investors in LifetimePlus.
 

 

Advice fees for personal advice

Amount
How and when paid

The hourly fee for Media Super Financial Planners2 is $330.

 

Intra fund advice service3 is available over the phone at no additional cost.

 

The Financial Planner’s fees are revised on 1 July each year, or more frequently where appropriate.

Current fees will be advised to you before engaging the advisor.

 

 

The advice fee is deducted from a member’s account when the member authorises the Fund to deduct the fee.

 

Members are entitled to an initial one-hour consultation with a Media Super Financial Planner at no extra cost and no obligation.

 

Your Planner will discuss the nature of any subsequent advice they might recommend, and provide a fixed-price fee quote for your consideration.

 

WARNING: if you proceed with the subsequent advice, and elect to pay the eligible advice fees for personal advice from your account, these additional fees will be paid to the Financial Planner’s employer. Media Super does not pay commissions to Financial Planners, tax advisers or sales agents.
 

 

Indirect cost ratio1

Amount
How and when paid

Varies from 0.00% to 1.34% p.a. (estimated) of your account balance.

The indirect cost ratio is an estimate of costs that are not charged to members as a fee but are deducted from the Fund assets when the costs are incurred prior to the unit price being calculated, which reduces the return on your investment.

 

This ratio has been determined for the financial year before the current Product Disclosure Statement was issued, and the estimates are described in the ‘Additional explanation of fees and costs’ in the Pensions Guide PDS.
 

1. For definitions of these types of fees and further information, please see ‘Additional explanation of fees and costs’ in the Product Disclosure Statement. or refer to our Defined Fees page.

2. Media Super has engaged Industry Fund Services (IFS) (ABN 54 007 016 195, AFSL No 232514) to facilitate the provision of financial advice to members of Media Super. Advice is provided by one of our Financial Planners who are Representatives of IFS. Fees may apply. Further information about the cost of advice is set out in the relevant Financial Services Guide, a copy of which can be obtained by calling IFS on 1300 138 848. IFS is responsible for any personal advice given to you by its Representatives.

3. Helpline Advisers are representatives of Mercer Financial Advice (Australia) Pty Ltd. ABN 76 153 166 293. Australian Financial Services Licence #411766.

 

For a full explanation of fees and costs, refer to the Pensions Guide PDS.