Fees and costs
Fees and costs summary for Nationwide Super are set out below (effective 1 October 2020):
GoalTracker Investment option
|Type of fee or cost||Amount||How and when paid|
|Ongoing annual fees and costs 1|
|Administration Fees and Costs||0.27% to 0.30% p.a. of your account balance up to $1 million and then 0.02% to 0.05% p.a. thereafter. Plus, a fixed-dollar fee of $78.00 p.a.||0.25% p.a. of the administration fees and costs and the fixed dollar fee are deducted from your account on the last Friday of each month. The fixed-dollar fee will be indexed to AWOTE at 1 October each year. The Trustee passes through the tax deductions it receives, therefore the deduction that you will see is 0.213% p.a. on the first $1 million of your account balance, plus a fixed-dollar fee of $66.30 p.a. A Trustee Administration Fee of 0.02% p.a. and up to 0.05% p.a. also applies. This fee is deducted from the investment returns. It is not deducted from your account.|
|Investment Fees and Costs 2||0.59% p.a.3||The investment fees and costs are deducted from the investment returns. They are not deducted from your account. Please refer to the ‘Additional explanation of fees and costs’ section of the Investment Guide for further information.|
|Transaction Costs||0.21% p.a.4||Transaction costs are deducted from the investment returns. They are not deducted from your account. Please refer to the ‘Additional explanation of fees and costs’ section of your Investment Guide for further information.|
|Member activity related fees and costs|
|Buy-sell spread||These spreads vary depending on the investment option(s) you choose. For more information, please visit nationwidesuper.com.au/buysellspread||You can read more about the buy-sell spread in the ‘Additional explanation of fees and costs’ section of the Investment Guide.|
|Switching fee||Nil||Not applicable.|
|Other fees and costs 5||Insurance fees:
For insurance fees, please refer to the ‘Insurance in your superannuation’ section of the PDS.
|The insurance fee is calculated monthly and deducted from your account on the last Friday of the month. Please refer to the ‘Types of insurance cover within Nationwide Super’ section of the Insurance, Fees and Costs Guide for further information.|
|Family Law fees:
Family Law fees are payable for information requests.
|For Family Law fees, refer to the ‘Additional explanation of fees and costs’ section of your Super Guide.|
1. If your account balance for a product offered by the superannuation entity is less than $6,000 at the end of the entity’s income year, certain fees and costs charged to you in relation to administration and investment are capped at 3% of the account balance. Any amount charged in excess of that cap must be refunded.
2. Investment fees and costs includes an amount of 0.01% p.a. for performance fees. The calculation basis for this amount is set out under the ‘Additional explanation of fees and costs’ section of the Investment Guide.
3. The Investment fee varies according to the option you invest in. The quoted fee here is for the GoalTracker option. The GoalTracker investment option is a new option and therefore, the indirect costs are reasonable estimates based on the information available as at the date the current PDS was issued.
4. 0.09% p.a. of the transaction costs represents the one off cost of moving from the previous MySuper investment strategy to the new GoalTracker investment strategy.
5. Additional fees may apply. Refer to the ‘Additional explanation of fees and costs’ section of the Super Guide.
You should read the important information about ‘Fees and costs’ before making a decision – For Insurance and Administration Fees and Costs read the Insurance, Fees and Costs Guide. For Investment Fees and Costs read the ‘Additional explanation of fees and costs’ in the Investment Guide . For all other fee information, such as Family Law, Advice Fees and Fee definitions, read the ‘Additional explanation of fees and costs’ in the Super Guide . 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 ongoing annual fees and costs for the GoalTracker option in this superannuation product can affect your superannuation investment over a one year period. You should use this table to compare this product with other superannuation products.
|EXAMPLE – GoalTracker investment option||BALANCE OF $50,000|
|Administration Fees and Costs||0.30% p.a.
Plus $78.00 p.a.
|For every $50,000 you have in this option, you will be charged or have deducted from your investment $150.00 in administration fees and costs, plus $78.00 regardless of your balance|
|PLUS Investment Fees and Costs||0.59% p.a.||AND, you will be charged or have deducted from your investment $295.00 in investment fees and costs.|
|PLUS Transaction Costs||0.21% p.a.||AND, you will be charged or have deducted from your investment $105.00 in transaction costs.|
|EQUALS Cost of product1||$628 p.a.2||If your balance was $50,000 at the beginning of the year, then for that year you will be charged fees of $628.00 2 for the superannuation product.|