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Low fees

Last Updated : 15 Oct 2011

AGEST's fees are amongst the lowest in the industry.  Our low fees are in stark contrast to many retail super funds who deduct large percentage-based fees from members in order to pay commissions to their salespeople or pay substantial dividends to their shareholders.

In those cases, the retail fund's salespeople and shareholders are the winners, not the super fund members.

We have a simple duty to our members, and we take it very seriously - we set member fees at a level that will cover our costs - no more, no less.

We are not extravagant like some retail funds.  We believe that our focus on costs, service and products is second to none.  We remain committed to keeping fees as low as possible, whilst still providing the level of service and product range that our members expect of us.

That's just one way in which we make it easy for members to have confidence that we are acting only in their interests.

After all, it's your money, not ours.

Administration fees

The administration fees for all members (including Pensioners) are:

$6.50 per month (or $78 per year)

PLUS

0.05% of your account balance (up to a maximum of $250 per annum).

These fees are deducted monthly from your account and commence from the date your account is created.

Administration fees apply to each membership account (eg if an AGEST Pensioner has two pension accounts because they have rolled in an additional amount after the first pension account was opened, two sets of fees will apply).


Investment costs

These are the costs for investing your superannuation.  They include fees paid to external investment managers, investment consulting fees, custodian costs and internal costs relating to investment management (excluding transaction costs).

The costs vary from year to year and depend on the investment option.  Costs for 2010/2011 ranged between 0.09% and 0.77%. 

Member Protection costs

Member protection costs are the costs of protecting members with a small account balance from administration fees, as required by law.  The cost varies from year to year but is usually very small. The cost in 2010/2011 was 0.04% (or 40 cents for the year on a $1,000 account).
 
These costs are distributed to members via a reduction to the investment return. 

For full details of our fees, please refer to our Product Disclosure Statements for our super and pension accounts.  You can also read our Fees and Costs Guide (see the links on the right hand side of this page).


How do our fees compare with other funds?

AGEST's only fees are our administration fees and investment managements costs.  We have:

• NO entry or exit fees
• NO transfer-in fees
• NO investment switching fees
• NO buy / sell spreads on our unit prices
• NO contribution based fees
• NO fees for family law information or account splitting
• NO commissions to investment or financial advisers
• NO dividends to any shareholders
• NO hidden fees