Asset class options Australian Shares 0.41% p.a. Overseas Shares 0.33% p.a. Property 0.79% p.a. Bonds 0.24% p.a. Cash 0.05% p.a.
Deducted before gross earnings of the option are received by the Fund and taken into account in the calculation of unit prices.
1 Other fees and costs may apply, such as activity fees and advice fees for personal advice. Refer to the Kinetic Smart Pension PDS for more information. 2 ICR includes estimated performance related fees and is subject to change from time to time. The ICR is calculated based on available information from underlying managers, taking into account the Fund's experience for the year ending 30 June 2016, the Fund's experience for the 6 months to 31 December 2016 and the Fund's investment portfolio as at 31 December 2016 (as the experience for the year to 30 June 2016 alone does not provide a reasonable estimate of the ICR).
Note: The above table shows fees charged to member for the investment options. Some expenses may also be paid from Fund reserves. Refer to the Kinetic Smart Pension PDS for more information.
Example - the growth investment option
Balance of $50 000
For every $50 000 you have in the investment option you will be charged $0 each year.
PLUS Administration fees
And, you will be charged $250 in administration fees each year.
PLUS Indirect costs for the investment option
And, indirect costs of $240 each year will be deducted from your investment.
EQUALS Cost of product
If your balance was $50 000, then for that year you will be charged fees of $490.
* Note: Additional fees may apply. And, if you leave the superannuation entity (by closing your account) you’ll also be charged an exit fee of $50 (for each pension account you hold) and a buy/sell spread which applies whenever you make a contribution, exit, rollover or investment switch. The buy/sell spread for exiting is 0.11% (this will equal to $55 based on a $50,000 balance).
A fee of $30 is applied to lump sum and pension payments made by cheque.
For each $50,000 after the first $100,000 the administration fee is reduced.
The table below sets out the buy/sell spread amounts for each investment option. A buy/sell spread is the difference between the purchase (buy) and sale (sell) unit price of an option (depending on the type of Kinetic Smart Pension you hold), when transactions on your account occur. The unit prices for investment options in the case of standard Account-based pensions and Transition-to-Retirement (TTR) pensions are different because investment earnings on TTR pensions are subject to tax. The unit price for account based pensions is referred to as the ‘Pension unit price’ and the unit price for TTR is referred to as the ‘TTR unit price’.
The spreads help ensure buy and sell investment costs (reflecting third party buy/sell spreads), are borne by members who undertake transactions in relation to their account. Buy or sell spreads aren’t a direct fee to your account, but are an additional cost to members (paid directly to the investment managers that we are invested with), included in the buy or sell unit price for each investment option.
Asset class options
For more information about the fees and charges that apply, refer to the ProductDisclosureStatement.