Fees and Charges

legalsuper works hard to keep fees and costs low. Our sole purpose is to maximise the retirement savings of our members. We do not pay commission to agents, and are an ‘all profits for members’ fund. Fees and costs are set out below.

Types of fees and costs Amount How and when paid

Investment Fee

0.68% pa – MySuper balanced (Default option)*
0.13% pa – Cash
0.15% pa – Enhanced cash
0.42% pa – Conservative
0.55% pa – Conservative balanced
0.18% pa – Balanced index
0.68% pa – Balanced
0.71% pa – Growth
0.72% pa – High growth
0.62% pa – Australian shares
0.48% pa – Overseas shares
0.86% pa – Balanced socially responsible

Direct Investment Option¹

For all investment options other than the Direct Investment option these amounts are not deducted directly or separately from your account. They are deducted proportionately from each investment option and are reflected in the calculations of the unit prices of each option.

 

These fees are an estimate as they have been calculated using anticipated fees of current underlying investment managers and includes

an estimated level of performance fees.

 

For the Direct Investment option – Investment transaction fees such as brokerage apply and are charged directly to your DIO Cash Management Account.

 

Administration fee

Direct fee
$67.60 per year ($1.30 per week)
PLUS
Indirect fee
0.29% pa of your account

For all investment options the Direct fee is deducted through the sale of units from your account on a monthly basis.

 

For all investment options other than the Direct Investment option the Indirect fee is not deducted directly or separately from your account. It is deducted proportionately from each investment option and is reflected in the calculations of the unit prices of each option.

 

For the Direct Investment option the Indirect fee is deducted through the sale of units from your account on a monthly basis.

 

Buy sell spread

0.32% - MySuper balanced*
0.00% pa – Cash
0.00% pa – Enhanced cash
0.18% - Conservative
0.24% – Conservative balanced
0.20% – Balanced index
0.32% – Balanced
0.34% – Growth
0.38% – High growth
0.40% – Australian shares
0.50% – Overseas shares
0.22% – Balanced socially responsible

This fee will apply when you contribute to the fund (buy units), withdraw from the fund (sell units), or change your investment options (sell and buy units) and is reflected in the difference between the buy and sell price of units in the relevant options. 

 

Buy-sell spreads reflect the cost of buying or selling assets and these vary from time to time. Current buy-sell spreads are available at legalsuper.com.au

 

No buy-sell spread is applicable to the Direct Investment option.

 

Switching fee 

Nil

Not Applicable.

Exit fee

$50.00

Payable on full or partial withdrawals or transfer out and deducted from your account through the sale of units.

Advice fees relating to all members
investing in a particular investment
option

 Nil

General advice fees are collected as part of the Administration fee above. Personal advice is charged as an Activity fee.1

Other fees and costs¹ 

 Variable

If applicable, other fees and costs are deducted from your account as they are incurred at your request.1

Indirect cost ratio (ICR) 

 Nil

Not Applicable.

 1. Please refer to Additional Explanation of Fees and Costs.

*The MySuper balanced option is available to Employer-sponsored members only.

All fees and costs stated are GST inclusive.

Additional explanation of fees and costs

Activity fees

Insurance fee: If applicable your account will be debited with any insurance fee payable by you for Death and TPD, Death or Salary Continuance cover.   

Advice fee: legalsuper enables you to pay an adviser an agreed fee from your superannuation account. Only fees that relate to advice given to you about your superannuation investment may be paid from your account. legalsuper reserves the right to reject an application and request further information.

DIO Account fee: $20 per month ($240pa) is deducted from your legalsuper account to access the Direct Investment option.

DIO Brokerage: Brokerage is paid each time you purchase or sell stock in your DIO account. Please refer to the PDS and relevant Additional Information document for further details.

Family Law: The Trustee does not currently charge for information provided to members in relation to Family Law matters.

Member fee capping

Where a member has an account balance* at 30 June at the end of the financial year which has exceeded

an average balance of $350,000 during that entire financial year, their administration fees for that year

will be capped. 

Administration fees are the sum of the direct fee of $1.30 per week plus the 0.29% per annum indirect fee based

on your average account balance during the year. Where the cap applies and administration fees are to be

rebated, the rebate will take place within 4 months after the end of the relevant financial year.

 

*The fee cap will not apply where a member’s account is closed on or before 30 June during that financial year.

Fee aggregation

Fee aggregation links all your account(s) for the purpose of calculating the capped administration fees. 

legalsuper will identify your accounts where the name and date of birth are identical.

For example, a member may have a superannuation account and a pension account. This can

mean a reduction in the administration fee payable by you where your combined account balances

exceed the average balance of $350,000 for the entire financial year.

EXAMPLE - For a member with a weighted average aggeragte balance at 30 June of $800,000

Administration feed paid $2,455.20

Administration fee cap $1,082.60

Fee Rebate $1,372.60