Fees and costs
Fees and costs for Nationwide Super are set out below (effective 1 October 2019):
|Type of fee or cost+||Amount||How and when paid|
|Investment fee||0.36%* p.a. of your account balance||The investment fee is deducted from investment returns before the unit price is declared and is not deducted from your account|
|Administration fee||0.25% p.a. of your account balance. Plus, a fixed-dollar fee of $78 p.a.||The administration fee is deducted from your account on the last business day of each month. The fixed-dollar fee will be indexed with AWOTE^ at 1 July each year.
The Trustee passes on the tax deductions it receives so the actual amount deducted from your account would be 0.213% p.a. Plus, a fixed-dollar fee of $66.30 p.a.
|Buy-sell spread||These spreads vary depending on the investment option(s) you choose. For more information, visit nationwidesuper.com.au/buysellspread||You can read more about the buy-sell spread in the ‘Additional explanation of investment fees and costs’ section of your Investment Guide.|
|Switching fee||Nil||Not applicable|
|Advice fees# relating to all members investing in a particular MySuper product or investment option||Nil for general and simple personal advice related to your interests in the fund. An advice fee for complex personal advice may be payable.||For Advice fees, refer to the ‘Additional explanation of fees and costs’ section of your Insurance, Fees and Costs Guide.|
|Other fees and costs||Insurance fees:
For insurance fees, refer to the ‘Types of insurance cover within Nationwide Super’ section of your Insurance, Fees and Costs Guide.
|The insurance fee is calculated monthly and deducted from your account on the last Friday of the month.|
|Family Law fees:
Family Law fees are payable for information requests and for payment splits.
|For Family Law fees, refer to the ‘Additional explanation of fees and costs’ section of your Super Guide.|
|Indirect cost ratio (ICR)||0.29% p.a. of your account balance, which comprises:
Estimated Performance Related Fee of 0.07% p.a.
Estimated Other Indirect Costs of 0.22% p.a.
Operational Risk Reserve of 0.00% p.a.
|These costs have already been accounted for in the unit price. Please refer to the ‘Additional explanation of investment fees and costs’ section of your Investment Guide.|
+ If your account balance is less than $6,000 at 30 June, the total combined amount of administration fees, investment fees and indirect costs charged to you is capped at 3% of your account balance. Any amount charged in excess of that cap must be refunded to you.
*The Investment fee varies according to the option you invest in. The quoted fee here is for the MySuper option.
^ AWOTE means Average Weekly Ordinary Times Earnings
# Additional fixed-dollar or percentage-based fees may apply depending on the type of advice you need. These fees will be agreed upfront between you and the adviser.
Additional explanations of your fees and costs can be found in the Insurance, Fees and Costs Guide, Investment Guide, and Super Guide, which you can download from our Forms section. You can also see the Definitions of Fees here. The material here relating to your fees and costs and any additional explanations (in your Insurance, Fees and Costs Guide, Investment Guide, and Super Guide) may change between the time when you read the PDS and the day when you join the Fund.
This table provides an example of how the fees and costs in the MySuper option of Nationwide Super can affect your superannuation investment over a one year period. You should use this table to compare this product with other superannuation products. Fees and costs can be paid directly from your account, or deducted from investment returns.
|EXAMPLE – MySuper option||BALANCE OF $50,000|
|Investment fees||0.36% p.a.||For every $50,000 you have in this option, you will be charged $180 each year|
|PLUS Administration fees||0.25% p.a. of your account balance. Plus, $78 p.a. ($6.50 per month)||AND, you will be charged $125 in administration fees. Plus, a fixed dollar fee of $78 regardless of your balance.
The Trustee passes on the tax deductions it receives so the actual amount deducted from your account would be $106.25 p.a. Plus, a fixed-dollar fee of $66.30 p.a.
|PLUS Indirect costs for the MySuper option||0.29% p.a. of your account balance||AND, indirect costs of $145 each year will be deducted from your investments|
|EQUALS Total cost of product||$528 p.a.||If your balance is $50,000, then for that year you will be charged fees of $528* for the superannuation product.
The Trustee passes on the tax deductions it receives so the estimated cost to you would be $497.55 p.a.