Types of Fees / Costs
Buy/Sell Spreads
Example of Annual Fees and Costs for a Balanced Investment Option
Protecting Your Benefits
Saving Administration Fees
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ACSuper will deduct fees from a member’s account in order to pay for administration, insurance premiums, and government contribution tax. Other fees may also be applicable, where utilized by the member, for example benefit processing for full or partial withdrawal. For details of these fees, see the schedule below and on page 7 of the Member Booklet - PDS.

Currently, ACSuper does not pay commission to financial advisers for the introduction of new members or for the provision of advice. We do however retain the services of van Eyk Pty Ltd and Australian Christian Services Pty Ltd.

These services benefit all members and are thus paid for out of Fund operating costs. Services provided include:

• Review of Fund Investment Policy and Product Offering
• Review of Underlying Fund Investments and Investment Manager Selection
• Review of Fund Insurance Products and Pricing
• General advice to Members regarding Investments and Insurance

In performing some of these activities, Australian Christian Services may receive payments from other providers such as the group life insurer and investment managers. Australian Christian Services will rebate the payments less expenses and fees back to the fund.

Types of Fees / Costs

TYPE OF FEE OR COST	AMOUNT	HOW AND WHEN PAID
Fees when your money moves in and out of the Fund
Establishment Fee: The fee to open your investment	Nil	Not Applicable
Contribution Fee: The fee on each amount contributed to your investment - either by you or your employer	Nil	Not Applicable
Withdrawal Fee: The fee on each amount you take out of your investment	$65 per withdrawal	Deducted monthly in arrears if applicable
Termination Fee: The fee to close your account	Nil	Not Applicable*
*Withdrawal fee may apply
Management Costs*
The fees and costs for administering your account and managing your investment	The Management Costs consist of an Administration Fee, an Expense Recovery Fee, and an Investment Fee.
	The Administration Fee is $1.81 per week or $94.12 p.a. per member	Administration Fee: This fee is deducted each month from your account in arrears.
The amount you pay for specific investment options is shown at pages 16-19 of the Members Booklet-PDS	The Expense Recovery Fee is 0.6% ($6.00 per $1,000.00).  This fee is for additional expense recovery within the Fund.	Expense Recover Fee is deducted before investment earnings are allocated to your account.
	The Investment Fee is the fee for managing the Fund’s investments and depends on the investment option/s you invest in.  The fee for each investment option is shown on pages 16-19 of the Members Booklet-PDS and ranges between 0.40% and 2.34%	Investment Fee:  This fee is deducted periodically before investment earnings are allocated to your account.  The fees payable to the investment managers can vary without notice according to the relevant manager’s current offer document.
Service Fees
Switching Fee: For changing investment options	Nil
Other Fees:	Legislation and our Trust Deed allow us to charge fees in special circumstances not listed above, e.g. retrieval of information under Family Law legislation.  You will be notified if this is the case.  Where the Fund holds investment in unitised options, a buy/sell spread may apply to new investments or redemptions (this is explained in further detail below).  “In addition to the above management expense ratios, the Fund may agree to pay performance-based fees to managers where they have significantly out-performed targeted objectives.
*Management costs include renumeration payable to advisers for services provided to the Fund and members.

Buy/Sell Spreads

Unitised investment options may apply a buy/sell spread. A buy/sell spread represents the difference between the unit allocation and unit release price of an investment option. The buy/sell spread is used to recover the transaction costs incurred when members invest, switch or withdraw all or part of their investments. Transaction costs incurred from buying and selling assets include brokerage and government taxes. The use of a buy/sell spread means that transaction costs are paid by the investors who are transacting, rather than the investors remaining in the option.

The buy/sell spreads currently range from 0.006% to 2.75% of the transaction amount, depending on the investment option. These spreads are based on our current estimates of transaction costs incurred and may be varied from time to time to reflect changes in the expenses incurred.

Buy/sell spreads represent an additional cost to the member, however are not fees paid to us – they are retained by the particular investment manager(s) in the investment options to cover transaction costs incurred in buying and selling investments.

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Example of Annual Fees and Costs for a Balanced Investment Option

This table gives an example of how fees and costs in the Balanced Investment Option for this product, can affect your superannuation investment over a 1 year period. You should use this table to compare this product with other superannuation products.

EXAMPLE-THE BALANCED INVESTMENT OPTIONS		BALANCE OF $50,000 DURING YEAR WITH TOTAL CONTRIBUTIONS OF $5,000 DURING YEAR
Contribution Fees	0%	For every $5,000 you put in, you will be charged $0
Plus Management Costs	$80.60 + 0.6% + 0.71%	And, for every $50,000 you have in the Fund you will be charged $80.60 in administration fees (levied to your account), plus $300 in expense recovery fees, plus $355 in investment fees (both deducted from investment earnings) each year.
Equals Cost of Fund		If your balance was $50,000 during the year, then for that year you will be charged fees of:  $735.60* What it costs you will depend on the investment option that you choose.

*Additional fees may apply.  And, if you leave the Fund early, you may also be charged withdrawal fees of $65.00 per withdrawal

Protecting Your Benefits

In accordance with Federal Government ‘Member Protection’ Legislation, ACSuper will protect your benefits if at any time your account balance is less than $1,000. However, please note that small balances may still be affected by deductions such as tax and insurance premiums. These deductions may cause small accounts to reduce.

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Saving Administration Fees

Transfer your old Super

Do you have any old superannuation accounts that you want rolled over to ACSuper? Having money in different superannuation funds can mean that you are paying multiple administration fees. There may be a number of advantages to having all your superannuation with ACSuper, most importantly:

• You only pay one set of administration fees.
• You only have one account to manage and keep track of.

ACSuper makes the Rollover process easier for you

Simply complete the Rollover Request form and we will contact your old fund(s) and arrange for your benefit to be transferred.

Please note that some superannuation funds may charge a fee to exit from their fund to ACSuper. You should contact your previous fund or refer to their PDS to find out if this is the case.

This document shows fees and other costs that you may be charged. These fees and costs may be deducted from your money, from the returns on your investment or from the Fund assets as a whole.

Taxes and insurance costs are set out in another part of this document.

You should read all the information about fees and costs because it is important to understand their impact on your investment.

Fees and costs for particular investment options are mentioned above and on page 7 of the Member Booklet - PDS.

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