Nobody likes to pay fees. That’s why we aim to make ours as competitive as possible so you can enjoy the kind of growth you deserve. Your fees can vary depending on your personal situation as they take into account details such as account balances and insurance premiums.
Example of the annual fees and costs for a balanced investment option
The case studies below shows examples of how much, Dave and Linda would be charged on an annual basis for fees and costs within the OAMPS Super Fund.
Case Study: Dave has an account balance of $10,000 and received contributions of $2,000 during the year. He is invested in the Retirement Growth Option and has no insurance cover.
|
Type of fee
|
Fee
|
$ value paid
|
|
Management Cost
|
$10,000 x 1.42%
|
$142
|
|
Less Management Cost Rebate
|
First $20,000 x 0.00%
|
$0
|
|
Plus Member Fee
|
$1 per annum
|
$52
|
| Equals |
Per annum
|
$194
|
Therefore: Dave’s total fee for the year would be $194
Case Study: Linda has an account balance of $50,000 and received contributions of $5,000 during the year. She is invested in the Balanced Option and has no insurance cover.
|
Type of fee
|
Fee
|
$ value paid
|
|
Management Cost
|
$50K x 1.42%
|
$710
|
|
Less Management Cost Rebate
|
First $20K x 0.00%
Next $30K x 0.20%
|
$0
-$60
|
|
Plus Member Fee
|
$1 per week
|
$52
|
| Equals |
Per annum
|
$702
|
*To establish the amount you could pay in the above examples, you should select the appropriate investment option and apply the investment management costs. Below is a table providing Investment Management Costs for all of out Investment Options:
|
|
DiversifiedShares Option
|
High Growth Option
|
Retirement Growth Option
|
Balanced Option
|
Capital Stable Option
|
Australian Shares Option
|
International Shares Option
|
Property Option
|
Diversified Fixed Interest Option
|
Cash Option
|
|
Investment Management Costs
|
1.53%
|
1.49%
|
1.42%
|
1.37%
|
1.32%
|
1.42%
|
1.55%
|
1.52%
|
1.23%
|
1.06%
|
Rebate of Management Costs
If you have more than $20,000 in your account, you will be entitled to receive a rebate directly into your account to off-set some of the management costs paid. The rebate system works on a tiered structure as follows:
|
Account Balance $
|
Rebate of Management Fees ($)
|
|
0 - 20,000
|
0.00%
|
|
20,000 - 250,000
|
0.20%
|
|
250,001 - 1,000,000
|
0.30%
|
|
1,000,001 +
|
0.40%
|
Additional Fees
Other fees and costs may be deducted depending upon your personal circumstance and if you have instructed us to do something to your account which incurs a cost. For example, fees are ONLY paid to an adviser if you have instructed us to pay an adviser and withdrawal fees are only applied if you have withdrawn some of your money.
For additional information about these fees and costs, please refer to the Fees and other costs section of the OAMPS Super Fund Product Disclosure Statement.
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