Fees and costs

As your super fund, you are our focus and we’re always looking for ways to keep costs low and invest in a better and sustainable future. This page provides details of the fees and costs that you could pay as a Vision Super member. 

For detailed information regarding our fees and costs, please refer to the relevant Product Disclosure Statement.

 

Super account fees

Most Vision Super members are invested in our MySuper investment option, Balanced growth.

The table below gives an example of the fees and costs for a MySuper member with $50,000 invested the Balanced growth option for one year.  

MySuper account invested in Balanced growth

Example – MySuper (Balanced growth) Balance of $50,000
Administration fees and costs $78 pa ($1.50 per week) plus 0.14% of your account balance For every $50,000 you have in the superannuation product, you will be charged or have deducted from your investment $70 in administration fees and costs, plus $78 regardless of your account balance.1
Plus Investment fees and costs 0.54% Andyou will be charged or have deducted from your investment $270 in investment fees and costs
Plus Transaction costs 0.09% And you will be charged or have deducted from your investment $45 in transaction costs
Equals Cost of product    If your balance was $50,000 at the beginning of the year, then for that year you will be charged fees and costs of $463* for the superannuation product.

 

*Additional fees may apply.

1. Administration fees and costs are comprised of

  • A flat fee of $78 (regardless of your account balance)
  • Plus a % based fee, which is $70 for every $50,000 you have in the superannuation product, up to a maximum of $540.

2. For every $50,000 you have in the superannuation product, Investment fees and costs and transaction costs will apply.

Superannuation account fees

Administration fees and costs

The administration fees and costs are made up of three components:

  • A flat dollar fee of $1.50 per week ($78p.a.)
  • An asset based fee of 0.14% of your account balance capped at $540 pa, and
  • If charged, a reserving margin ranging from 0.00% to 0.02% which is reflected in the daily unit price.

Currently the reserving margin is nil.

Investment fees and costs

The fee amounts depend on the investment option (or options) you’re invested in.

Investment fees and costs includes investment expenses relating to the investment management of Vision Super’s assets, such as base and performance related fees paid to investment managers and advisers, management fees charged in investment vehicles, asset consulting fees, bank fees, custodian fees and internal Vision Super costs related to the management of the Fund’s assets. For further information about performance fees, refer to applicable PDS.

Investment fees are taken into account in the calculation of the unit prices for the investment options and are therefore reflected in the returns allocated to your account through changes in the unit prices.

 

Premixed options Investment fees and costs (i) Single sector Investment fees and costs (i)
Growth 0.61% Just shares 0.35%
Balanced growth 0.54% Australian equities 0.21%
Sustainable balanced 0.12% International equities 0.44%
Balanced 0.48% Innovation & Disruption 0.55%
Conservative 0.36% Infrastructure 0.69%
    Property 0.61%
    Diversified bonds 0.08
    Cash 0.03%

(i) Investment fees and costs in respect of all investment options other than the Property option and Infrastructure option are an estimate based on the fees and costs incurred over the year ended 30 June 2020. These estimates reflect actual amounts for the year ended 30 June 2020 where available and some estimated components. Investment fees and costs for the Property option and Infrastructure option are an estimate of anticipated investment fees and costs for the 2020/2021 financial year as at the date of preparation of this document.The actual amount of investment fees and costs that you will incur in the current and subsequent financial year(s) depends on the investment option(s) you are invested in and actual investment fees and costs incurred by Vision Super from year to year in relation to the option(s).

 

Transactional costs

Transaction costs include explicit transaction costs such as brokerage,
settlement costs or stamp duty, as well as buy sell spreads charged by
our investment managers or in underlying investment vehicles.

Premixed options Transaction costs pa (i)
Growth 0.10%
Balanced Growth 0.09%
Sustainable balanced 0.03%
Balanced 0.08%
Conservative 0.05%

 

Single sector options Transaction costs pa (i)
Just shares 0.10%
Australian equities 0.06%
International equities 0.13%
Innovation and Disruption 0.02%
Infrastructure 0.04%
Diversified bonds 0.00%
Cash 0.00%

 

(i) Transaction costs in respect of all investment options other than the
Property option and Infrastructure option are an estimate based on
the explicit transaction costs incurred by the Fund and underlying
investment vehicles over the year ended 30 June 2020. These estimates
are based on information provided by our investment managers and
custodian and reflect actual amounts for the year ended 30 June 2020
where available and some estimated components.

Transaction costs for the Property option and Infrastructure option are
an estimate of anticipated transaction costs for the 2020/2021 financial
year as at the date of preparation of this document.

The actual amount of transaction costs that you will incur in the current
and subsequent financial year(s) depends on the investment option(s)
you are invested in; the frequency, size and type of member transactions
relating to your account and actual transaction costs incurred by Vision
Super from year to year in relation to the option(s).

How do we compare?

Example fees for a $50,000 super account 

 

$463

Vision Super fees

$645

Average super fees 1

 

1 - SuperRatings average fee for a $50,000 super account balance – SuperRatings Fundamentals Report July 2020

 

 

Pension account fees


Vision Super also has pension products.  The table below gives an example of the fees and costs for a Account Based Pension or Non-commutable account based pension member with $50,000 invested in Balanced growth option for one year.  

 

Account based pension or Non-commutable Account based pension invested in Balanced growth

Example – Balanced growth Balance of $50,000
Administration fees and costs 0.35% of your account balance For every $50,000 you have in the superannuation product, you will be charged or have deducted from your investment $175 in administration fees and costs1.
PLUS Investment fees and costs 0.54% AND2  You will be charged or have deducted from your investment $270 in investment fees and costs
PLUS Transaction costs 0.09% AND2, you will be charged or have deducted from your investment $45 in transaction costs
EQUALS Cost of product   If your balance was $50,000 at the beginning of the year, then for that year you will be charged fees and costs of $490* for the superannuation product.

* Additional fees may apply.

1. Administration fees and costs are comprised of a % based fee which is $175 for every $50,000 you have in the superannuation product up to a maximum of $1,050

2. For every $50,000 you have in the superannuation product, Investment fees and costs and Transaction costs will apply.

Pension account fees

Administration fees and costs

The administration fees and costs are made up of three components:

  • A flat dollar fee of $1.50 per week ($78p.a.)
  • An asset based fee of 0.14% of your account balance capped at $540 pa, and
  • If charged, a reserving margin ranging from 0.00% to 0.02% which is reflected in the daily unit price.

Currently the reserving margin is nil.

Investment fees and costs

The fee amounts depend on the investment option (or options) you’re invested in.

Investment fees and costs includes investment expenses relating to the investment management of Vision Super’s assets, such as base and performance related fees paid to investment managers and advisers, management fees charged in investment vehicles, asset consulting fees, bank fees, custodian fees and internal Vision Super costs related to the management of the Fund’s assets. For further information about performance fees, refer to applicable PDS.

Investment fees are taken into account in the calculation of the unit prices for the investment options and are therefore reflected in the returns allocated to your account through changes in the unit prices.

 

Premixed options Investment fees and costs (i) Single sector Investment fees and costs (i)
Growth 0.61% Just shares 0.35%
Balanced growth 0.54% Australian equities 0.21%
Sustainable balanced 0.12% International equities 0.44%
Balanced 0.48% Innovation & Disruption 0.55%
Conservative 0.36% Diversified bonds 0.08%
    Cash 0.03%

(i) Investment fees and costs in respect of all investment options are an estimate based on the fees and costs incurred over the year ended 30 June 2020. These estimates reflect actual amounts for the year ended 30 June 2020 where available and some estimated components.The actual amount of investment fees and costs that you will incur in the current and subsequent financial year(s) depends on the investment option(s) you are invested in and actual investment fees and costs incurred by Vision Super from year to year in relation to the option(s).

 

Transactional costs

Transaction costs include explicit transaction costs such as brokerage,
settlement costs or stamp duty, as well as buy sell spreads charged by
our investment managers or in underlying investment vehicles.

Premixed options Transaction costs pa (i)
Growth 0.10%
Balanced Growth 0.09%
Sustainable balanced 0.03%
Balanced 0.08%
Conservative 0.05%

 

Single sector options Transaction costs pa (i)
Just shares 0.10%
Australian equities 0.06%
International equities 0.13%
Innovation and Disruption 0.02%
Infrastructure 0.04%
Diversified bonds 0.00%
Cash 0.00%

 

(i) Transaction costs in respect of all investment options other than the
Property option and Infrastructure option are an estimate based on
the explicit transaction costs incurred by the Fund and underlying
investment vehicles over the year ended 30 June 2020. These estimates
are based on information provided by our investment managers and
custodian and reflect actual amounts for the year ended 30 June 2020
where available and some estimated components.

Transaction costs for the Property option and Infrastructure option are
an estimate of anticipated transaction costs for the 2020/2021 financial
year as at the date of preparation of this document.

The actual amount of transaction costs that you will incur in the current
and subsequent financial year(s) depends on the investment option(s)
you are invested in; the frequency, size and type of member transactions
relating to your account and actual transaction costs incurred by Vision
Super from year to year in relation to the option(s).

 

How do we compare?

Example fees for a $50,000 Account based pension or Non-commutable account-based pension invested in the Balanced growth option

 

$490

Vision Super fees

$718

Average super fees 1

1 - SuperRatings Average Account Based Pension fee for a $50,000 account balance – SuperRatings Fundamentals Report July 2020

 

 

  Other fees


Insurance fees

If you have insurance cover under Vision Super, insurance premiums apply and are deducted from your account. Please refer to our Vision Super Saver Insurance in your super PDS or if you are a Vison Personal member refer to the Vision Personal Insurance Guide for more information about insurance costs.

Advice fees

You can obtain personal financial advice which takes into account your objectives, financial situation and needs from a Vision Super Financial Planner (VSFP). VSFPs are employed by the Trustee of Vision Super. These staff members are authorised to give personal advice under an arrangement that the Trustee has with Industry Fund Services Pty Ltd (IFS) (AFSL no: 232514).

Advice limited to contributions and investments regarding your membership of Vision Super that is not subject to ongoing review is called ‘intra-fund’ advice and includes personal intra-fund advice. Intra fund advice is available at no extra cost to you as the cost of intra-fund advice is included in the Fund’s administration fees.

Advice fees apply on a fee for service (user pays) basis for all other personal financial advice provided by a VSFP in addition to the fees and costs shown in this Guide. Fees are only charged for a Statement of Advice that contains personal advice that is not intra-fund advice. Fees for personal advice relating solely to your interest in Vision Super are generally paid directly by you. However, if we are satisfied that the fee is solely for the provision of advice regarding your membership in Vision Super, it may be deducted from your account, with your written authorisation.

If you’re after a comprehensive financial plan, you can book a call-back with one of our financial planners.

Buy and sell spreads

The buy-sell spread (where applicable) is the difference between the buy price and sell price of units in each investment option. As noted above, buy-sell spreads for all investment options are currently nil. This is based on the current level and pattern of member transactions (eg investment switching requests) and the current level of transaction costs incurred by the Fund when Fund assets are purchased or sold. If circumstances change, Vision Super may need to charge buy-sell spreads to ensure it is able to more appropriately recover the transaction costs resulting from member transactions from the members engaged in those transactions. Table 5 sets out the possible range of buy-sell spreads. Buy-sell spreads may change within this range without prior notice.

 

Option Buy-sell spread Buy-sell spread range
Balanced growth 0.00% 0.00% to 0.12%
Conservative 0.00% 0.00% to 0.08%
Balanced 0.00% 0.00% to 0.11%
Sustainable balanced 0.00% 0.00% to 0.09%
Growth 0.00% 0.00% to 0.13%
Just shares 0.00% 0.00% to 0.17%
Australian equities 0.00% 0.00% to 0.19%
International equities 0.00% 0.00% to 0.15%
Innovation and Disruption 0.00% 0.00% to 0.15%
Infrastructure 0.00% 0.00% to 0.00%
Property 0.00% 0.00% to 0.00%
Diversified bonds 0.00% 0.00% to 0.04%
Cash 0.00% 0.00% to 0.03%

 

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