Retirement fees and costs

Cbus works to keep fees low so that when the time comes you have enough super to relax and enjoy your life after work.

Due to Media Super merging with Cbus, Media Super Pension accounts have closed and been moved to a Cbus Super Income Stream.

We appreciate change can bring uncertainty. Please be assured all practical pension product options were scrutinised for benefits and the need to act in the best financial interests of our members.

For members with an existing Media Super Pension account, your benefits have been transferred to a new Cbus Super Income Stream and will continue to provide you with a regular pension payment. You will also enjoy additional benefits, such as:

  • Fortnightly payments in addition to monthly, quarterly, half-yearly and yearly options
  • Additional flexibility on how payments are drawn down from investments
  • Retirement Spending Planner and Advice Services.

Named Money Magazine’s Best Pension Fund for 2022, you’re in great hands with Cbus.

The information on this web page relates to the Cbus Super Income Stream (SIS)

The tables below explain the fees you'll pay on your Cbus Super Income Stream (SIS) account, what they include, and how and when they're paid.

For definitions of these types of fees and further information, please see ‘Fees and other costs’ in the Cbus Super Income Stream PDS. Ranges for the Investment fees are estimates for the 2021-22 financial year.

If you have any questions about fees, please call us on 1300 361 784 and we'll be happy to help.

Pension fees and costs

Type of fee

Amount

How and when paid

Entry/joining fee

nil

n/a

Investment fee1,2

Transition to Retirement income Stream

Pre-mixed options:

High Growth - 0.56%

Growth Plus - 0.53%

Growth - 0.51%

Indexed Diversified - 0.09%

Conservative Growth (default) – 0.36%

Conservative – 0.25%

DIY options:

Overseas Shares – 0.40%

Australian Shares – 0.45%

Property – 0.67%

Diversified Fixed Interest – 0.26%

Cash – 0.05%

Fully Retired Income Stream

Pre-mixed options:

High Growth - 0.57%

Growth Plus - 0.53%

Growth - 0.51%

Indexed Diversified - 0.09%

Conservative Growth (default) – 0.36%

Conservative – 0.25%

DIY options:

Overseas Shares – 0.40%

Australian Shares – 0.45%

Property – 0.67%

Diversified Fixed Interest – 0.26%

Cash – 0.05%

Deducted from your investment returns before the crediting rate is applied to your account.

See below for information on the costs that make up the investment fee.

Administration fee2

$2.00 per week

Plus

0.19% of your account balance a year (up to a maximum of $1,000 a year)3

Deducted from your account at the end of each month or when you close your account.

Buy-sell spread

Nil

Advice fees

Nil

Financial Planner Payment

Up to $5,000 per financial year, as negotiated with your financial planner and authorised by the member

Deducted from your account for personal financial advice service provided by a participating FPA Professional Practice in the Cbus & FPA Member Referral Program.*

*FPA - Financial Planning Association

Indirect cost ratio2

Nil

Switching fee

Nil




1 Fees deducted from the crediting rate are estimates based on the actual fees from the 2020/21 financial year. The fees usually change from year to year and are different for each investment option. The actual fee will be determined at the end of the financial year and published in your 30 June statement.

2 If your account balance for a product is less than $6,000 at the end of the financial year, the total combined amount of administration fees, investment fees and indirect costs charged to you is capped at 3% of your account balance. Any amount charged above this cap will be refunded to you.

3 The percentage-based administration fee cap of $1,000 a year was introduced on 1 February 2020

Investment fee

The costs to manage your investments and how they impact your account depend on the type of investment option you select.

For standard investment option, these vary for each option and are paid from the investment earnings before they are added to your account. There are specific fees and charges that apply when you invest in the Self-Managed investment option.

The costs to manage your investments are known as the ‘investment fee’. The investment fee includes fees paid to external and internal investment managers, custodians and asset consultants, transaction costs, property management related expenses and bank fees.

The investment fee is taken into account in the daily calculation of crediting rates. Therefore, it is reflected in the returns allocated to your account through changes to the crediting rate.

The percentage-based administration fee has been deducted directly from your account since 1 February 2020. Prior to this, it was deducted from investment earnings when calculating the daily crediting rate.

Investment fees may change from time to time because of changes in performance and/or other fees from year to year.

Self-Managed fees

See the Self-Managed investment guide (PDF) for details of fees and costs.