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 0.82% p.a. of your account balance, plus $209.00 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 (1) a fixed percentage that is deducted from the investment options, excluding the Direct Investment option, on a weekly basis prior to the unit prices being calculated, and (2) an estimate of investment costs which are paid from the Fund’s assets calculated (in a manner similar to the indirect cost ratio). The investment costs have been estimated based on indicative annualised calculations for the 2018-19 financial year.



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 $209 p.a. Direct Investment option fee is deducted from your account balance at the end of every month and when you cease to hold the option.

 

 

Administration fee1

Amount How and when paid

$65 p.a. ($1.25 per week), plus 0.15% p.a. of your account balance. 

 

A fee cap of $600 p.a. in relation to the 0.15% p.a. administration fee may apply if your account balance is $400,000 or greater.

 

 

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

 

The 0.15% 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.

 

If your account balance exceeds $400,000 in a particular month (totalled across all of your accounts), in the following month you will receive a refund of any amount you pay over $50 in relation to the 0.15% administration fee for that month, provided that you still have an account with Media Super at the time of the refund.

 

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 end of the month or on exiting the Fund (if you exit the Fund before the end of the month) following each investment switch you make. The fee is waived for your first switch if it is received by Media Super within 30 days of you joining the Fund or if you are only changing your investment options for future transactions.

 

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

Amount How and when paid

Nil

Not applicable

 

 

Other fees and costs1

Activity fees

Amount How and when paid

Family law application for information

$114.17 (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

$18.45 (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.

 

 Property operating costs

Amount  How and when paid

Estimated based on indicative annualised calculations for the 2018-19 financial year and varies from 0.00% to 0.48% p.a. of your account balance depending on the investment option you are invested in.

 

Property operating costs are amounts payable in relation to real property, excluding borrowing costs and amounts payable for the acquisition or disposal of real property. The costs shown are an estimate of the property operating costs that are not charged to members as a fee, but are deducted from the Fund’s assets when the costs are incurred prior to the unit price being calculated, which reduces the return on your investment.

 

Property operating costs are additional costs to members, not included in the Investment fee or Indirect cost ratio, but they are reflected in the unit prices and therefore investment returns for the applicable investment options. 

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 - 20,000

$22.00 (flat fee)

20,001+

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.

 

 

Advice fees for personal advice

Amount How and when paid

The hourly fee for Media Super Financial Planners2 is $350.

 

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

 

The Financial Planner’s fees are indexed annually on 1 April in line with Average Weekly Ordinary Time Earnings.



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 1.56% 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.

 

1. For definitions of these types of fees and further information, please see ‘Additional explanation of fees and costs’ in the Pension Product Disclosure Statement. Ranges for the Investment fees are estimates for the 2018-19 financial year. Ranges for the indirect cost ratio are based on indicative annualised calculations for the 2018-19 financial year.

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 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 providing general or limited advice are representatives of Mercer Outsourcing Australia Pty Ltd (MOAPL) ABN 83 068 908 912, AFS Licence 411980.

 

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