Super fee types compared
Each type of fee or cost a super fund can charge, how it is worked out and what to look for.
Every super product's PDS sets out a fees and costs summary in a standard format so you can compare products line by line. The table below explains each line in plain English. It compares types of fees, not funds: for the real figures of a MySuper product use the ATO's YourSuper comparison tool, and for other products read the current PDS.
Select a column header to sort.
| Fee or cost | How it is charged | Who it hits hardest | What to check |
|---|---|---|---|
| Administration fee (flat) | A dollar amount per week, month or year, deducted from your account | Small balances: $78 a year is 1.6% of $5,000 but 0.08% of $100,000 | Whether you pay it in more than one fund |
| Administration fee (percentage) | A percentage of your balance, sometimes capped or tiered | Large balances, unless capped | Any cap and the balance at which it applies |
| Investment fees and costs | A percentage of the amount in each investment option; can include performance fees | Everyone; differs widely between options | The figure for the option you are actually in, not the default |
| Transaction costs | Brokerage, settlement and similar costs inside the option, shown as a percentage | Members in actively traded options | Whether they are included in the total cost on YourSuper |
| Buy/sell spread | A small percentage added or deducted when money moves into or out of an option | Members who switch options often or roll over large sums | The spread for each option you might use |
| Switching fee | A charge for changing investment options, often nil | Frequent switchers | Whether a limited number of free switches applies |
| Advice fees | Intra-fund advice is often included in admin fees; personal advice may be charged to your account if you agree | Members paying for ongoing advice | That you consented and the fee matches the service received |
| Insurance premiums | Deducted for life, TPD and income protection cover; not part of the fee total | People with several accounts each paying premiums | Your cover amount, premium and when cover ends |
| Exit and activity fees | Exit fees are banned; other activity fees (for example family law splits) may apply | Members with a specific event | The 'other fees and costs' section of the PDS |
Dollar examples are illustrative. Fee disclosure follows ASIC's rules for super product disclosure (Regulatory Guide 97), so the same terms appear in every PDS, but funds update their fees and costs each year. Check current figures on the ATO's YourSuper comparison tool, your fund's PDS and annual statement, and APRA's performance test results. General information only, not financial advice.