The following table shows the fees and other costs you may be charged for investing in the Spaceship GrowthX option and can be used to compare costs between different superannuation products. The fees and costs may be deducted from your account or from investment returns regardless if there are positive investment returns on the funds. More detailed information about the Spaceship Super Plan can be found in the Product Disclosure Statement and Reference Guide.
Example: $50,000 balance invested in the Spaceship GrowthX option
|Type of Fee or Cost||Amount||Outcome|
|Investment fee||Nil||For every $50,000 you have in the Spaceship GrowthX Option you will be charged $0 each year.|
|PLUS administration fees||$1.50 per week ($78 per annum)||And, you will be charged $78 in administration fees regardless of your balance. Administration fees are only charged if you make a contribution or transfer/rollover funds into Spaceship.|
|PLUS indirect costs||1.6%||And, indirect costs of $800 each year will be deducted from your investment.|
|EQUALS cost of product||If your balance was $50,000, then for that year you will be charged fees of $878 for the Spaceship GrowthX option.|
You may also incur a buy/sell spread cost when your money moves in or out of the Plan or when you switch between different investment options. And if you leave the superannuation entity you will also be charged an exit fee of $38.50. See the Reference Guide for more information about the buy/sell spread, adviser and other service fees and special request fees. The management costs incorporate GST after taking into account any expected input tax credits.
|Type of Fee or Cost||Definition|
|Activity fees||A fee is an activity fee if:
|Administration fees||An administration fee is a fee that relates to the administration or operation of the superannuation entity2 includes costs incurred by the trustee1 of the entity that:
|Advice fees||A fee is an advice fee if:
|Buy/sell spreads||A buy/sell spread is a fee to recover transaction costs incurred by the trustee1 of the superannuation entity2 in relation to the sale and purchase of assets of the entity.|
|Exit fees||An exit fee is a fee to recover the costs of disposing of all or part of members’ interests in the superannuation entity2.|
|Indirect cost ratio||The indirect cost ratio (ICR) for a MySuper product or an investment option offered by a superannuation entity2, is the ratio of the total of the indirect costs for the MySuper product or investment option, to the total average net assets of the superannuation entity2 attributed to the MySuper product or investment option.
Note: A dollar-based fee deducted directly from a member’s account is not included in the indirect cost ratio.
|Investment fees||An investment fee is a fee that relates to the investment of the assets of a superannuation entity2 and includes:
|Switching fees||A switching fee is a fee to recover the costs of switching all or part of a member’s interest in the superannuation entity2 from one class of beneficial interest in the entity to another.|
Changes to Fees and Costs
Under the Plan’s trust deed, the Trustee is permitted to charge a range of fees and can change the amount of existing fees without members’ consent. At least 30 days prior notice will be given to customers before any management costs increase or the introduction of any new fee or cost takes effect.
If you would like to find out more or see the impact of fees based on individual circumstances, the Australian Securities and Investments Commission website (www.moneysmart.gov.au) has a superannuation fee calculator to help you check out different fee options.
For information about our Trust Deed, Annual Reports, Significant Event Notices, key outsourced relationships and more, please click here.
Our Product Disclosure Statement and Reference Guide are available online by clicking here.
Trustee1: in relation to a superannuation scheme, includes a person responsible for the administration and management of the scheme.
Superannuation Entity2: has the same meaning as in the SIS Act i.e.
(a) a regulated superannuation fund; or
(b) an approved deposit fund; or
(c) a pooled superannuation trust.