Retirement and TTR Pensions - Fees and charges

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:  

Pension Accounts 

 Types of fees and costs

 Amount

 How and when paid 

Investment Fee

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 option*

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 Account

Administration fee

Direct fee

$67.60 per year ($1.30 per week) 

PLUS

Indirect fee

0.29% pa of your unitised investment option(s) listed above.

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

0.00% pa  - Cash

0.00% pa  -  Enhanced cash

0.08% pa  -  Conservative

0.12% pa  - Conservative balanced

0.20% pa  - Balanced index

0.16% pa  - Balanced

0.17% pa  - Growth

0.19% pa -  High growth

0.20% pa -  Australian shares

0.19% pa -  Overseas shares

0.22% pa -  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.For more information, click here.
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 costs*

Variable

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

 

* Please refer to 'Additional explanation of fees and costs' below.

If you maintain more than one legalsuper account (for example, a superannuation account and one or more pension accounts) you will pay the weekly administration fee in respect of each account. All fees and costs stated are GST inclusive.

Additional explanation of fees and costs 

If you maintain more than one legalsuper account (for example, a superannuation account and one or more pension accounts) you will pay the weekly administration fee in respect of each account. All fees and costs stated are GST inclusive.

Activity fees include:
 
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 ($240 p.a.) 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 for further details.

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

Further definitions of the terms used above in relation to fees and costs can be found under the heading 'Pension members' and selecting 'Defined Fees'.

Member fee capping

Where a member has an account balance* at 30 June at the end of the financial year which exceeds $350,000, 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.