Working hard to keep your fees competitive

When it comes to investing your super and retirement savings, the fees and costs you pay have an impact on your eventual account balance.

That’s why we work hard to keep our running costs as low as possible, so we can keep our fees low for our members.

And when we combine our competitive fees with solid, long-term investment returns, we’re making sure more money stays in your account for your future – right where you want it.

A top performing super fund

Your superannuation provides you with an income in retirement. So it’s important to choose a super fund that can grow and manage your money.

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About the fees you pay

The fees and costs you pay for your Equip Super account are made up of administration fees, investment fees and costs, and transaction costs.

While administration fees are applied for all members using the same calculation (up to an annual limit), investment fees and costs and transaction costs can vary according to the investment option you’re invested in.

Administration
fees

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Investment fees
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Transaction
costs

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Total fees
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Sometimes, other fees and costs might apply to your account – for example if you have insurance cover with your super account. The fees and costs are explained in full in the relevant PDS for the Equip Super product you’re invested in.

How your fees and costs might look

The following examples set out how your yearly fees and costs might look depending whether you’re invested in our super product or one of our retirement products.

Each example assumes an account balance of $50,000.

Example of yearly fees and costs for:

In this example, the member has an account balance of $50,000 invested in the MySuper investment option:

Example – MySuper productBalance of $50,000

Administration fees and costs

$1 per week plus 0.22%

For every $50,000 you have in the superannuation product, you will be charged or have deducted from your account $110 in administration fees and costs, plus $52 regardless of your balance.

PLUS investment fees and costs

0.51%

And, you will be charged or have deducted from your investment $255 each year in investment fees and costs.

PLUS transaction costs

0.10%

And, you will be charged or have deducted from your investment $50 each year in transaction costs.

EQUALS cost of product

$467

If your balance was $50,000 at the beginning of the year, then for that year you will be charged fees and costs of $467 for the superannuation product.

In this example, the member has an account balance of $50,000 invested in the Growth investment option:

Example – Growth optionBalance of $50,000

Administration fees and costs

$1.95 per week plus 0.20%

For every $50,000 you have in the Retirement Income product, you will be charged or have deducted from your account $100 in administration fees and costs, plus $101.40 regardless of your balance.

PLUS investment fees and costs

0.51%

And, you will be charged or have deducted from your investment $255 each year in investment fees and costs.

PLUS transaction costs

0.10%

And, you will be charged or have deducted from your investment $50 each year in transaction costs.

EQUALS cost of product

$506.40

If your balance was $50,000 at the beginning of the year, then for that year you will be charged fees and costs of $506.40 for the Retirement Income product.

In this example, the member has an account balance of $50,000 invested in the Capital Stable investment option:

Example – Capital Stable option Balance of $50,000

Administration fees and costs

$1.95 per week plus 0.20%

For every $50,000 you have in the Transition to Retirement Income product, you will be charged or have deducted from your account $100 in administration fees and costs, plus $101.40 regardless of your balance.

PLUS investment fees and costs

0.36%

And, you will be charged or have deducted from your investment $180 each year in investment fees and costs.

PLUS transaction costs

0.09%

And, you will be charged or have deducted from your investment $45 each year in transaction costs.

EQUALS cost of product

$426.40

If your balance was $50,000 at the beginning of the year, then for that year you will be charged fees and costs of $426.40 for the Transition to Retirement Income product.

Our fees and costs in detail

For our super product:

These fees and costs1 help to cover the cost of running the Fund. They will be deducted from your account effective on the last day of each month.

If you are an Equip Super MyFuture accumulation member:

  • Your weekly administration fee is $1 per week, and
  • Your asset-based administration fee is 0.22% p.a. of your account balance (up to a maximum of $1,100 p.a.)

In Equip Corporate, most members will have the same administration fees and costs as shown above. For more details on the fees applicable to you, please refer to your PDS.

Plus, any administration costs that are paid from reserves, that are not otherwise charged as administration fees of nil2. These costs are not directly charged to your account but have reduced the reserve balance held by the Fund to cover future administration costs.

For accumulation members, Equip Super claims a tax deduction on the administration fees and insurance premiums we deduct from your account and passes this benefit back to you directly by reducing the amount of tax that is deducted from your account. This means that you receive a 15% refund of your administration fees and insurance premiums.

1 If your account balance is less than $6,000 at the end of the 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 to you.
2 These amounts are calculated based wholly or in part on previous financial year(s). The actual amount will change from year to year and may be more or less than the amount shown.

These fees1,2 are charged to cover the costs for managing your investments, including any fees paid to external investment managers and custodians, and any applicable performance-related fees.

These fees are not deducted directly from your account but are deducted from the underlying asset value and are reflected in the daily unit prices.

The estimated investment fees and costs range from 0.04% to 0.64% p.a. (0.51% p.a. for MySuper option), depending on your investment options.

1 These amounts are calculated based wholly or in part on previous financial year(s). The actual amount will change from year to year and may be more or less than the amount shown.
2 Investment fees and costs include an amount of 0.00% to 0.03% (0.02% for MySuper) for estimated performance fees.

Transaction costs1 are incurred when assets are bought and sold. They are not deducted directly from your account but are deducted from the underlying asset value and are reflected in the daily unit prices.

The estimated investment fees and costs range from 0.00% to 0.11% p.a. (0.10% p.a. for MySuper option), depending on your investment options.

1 These amounts are calculated based wholly or in part on previous financial year(s). The actual amount will change from year to year and may be more or less than the amount shown.

A buy-sell spread fee is a fee to recover the cost of buying and selling various investments when you change your investment options.

Equip Super does not charge a buy-sell spread fee to your account.

A switching fee is a fee to recover the costs of switching all or part of your investment options.

Equip Super does not charge a switching fee to your account.

We offer a range of general advice and educational services, giving members the opportunity to receive general advice about Equip Super, issues relating to super, investment options, retirement planning, and related matters such as social security and estate planning.

These services are offered over the phone, face-to-face, and through seminars and online tools. This is provided at no additional cost

Limited advice

Members can access personal advice relating to their interest in the Fund through our licensed financial services company, Equip Financial Planning, in limited circumstances.

There is generally no cost for this advice although fees may apply if you use this service frequently. You'll be advised if this is to occur.

Comprehensive advice

You can also receive comprehensive advice on a fee-for-service basis, provided by Equip Financial Planning.

Call us for more information.

Insurance fees include the cost of your insurance cover in Equip Super if you have it. You may have received this cover automatically when you joined, or you may have applied for it.

Equip Super deducts the cost of your insurance cover from your account on the last day of every month, and we pay this same amount to the insurer. Equip Super does not charge any other fee relating to insurance.

You can find more information relating to the costs of insurance cover in the Insurance in your super guide.

Other fees and costs may apply. You should read all the important information about fees and other costs because it’s important to understand their impact on your investments.

For full details on how they’re calculated and the applicable fees and costs for each investment option, refer to the following documents:

For our Transition to Retirement Income and Retirement Income products:

These fees and costs1 help to cover the cost of running the Fund. They will be deducted from your account effective on the last day of each month.

If you are an Equip Super Retirement Income or Transition to Retirement Income member:

  • Your weekly administration fee is $1.95 per week, and
  • Your asset-based administration fee is 0.20% p.a. of your account balance (up to a maximum of $1,000 p.a.)

Plus, any administration costs that are paid from reserves, that are not otherwise charged as administration fees of nil2. These costs are not directly charged to your account but have reduced the reserve balance held by the Fund to cover future administration costs.

If you are a Transition to Retirement Income member, Equip Super claims a tax deduction on the administration fees we deduct from your account and passes this benefit back to you directly by reducing the amount of tax that is deducted from your account. This means that you receive a 15% refund of your administration fees.

1 If your account balance is less than $6,000 at the end of the 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 to you.
2 These amounts are calculated based wholly or in part on previous financial year(s). The actual amount will change from year to year and may be more or less than the amount shown.

These fees1,2 are charged to cover the costs for managing your investments, including any fees paid to external investment managers and custodians, and any applicable performance-related fees.

These fees are not deducted directly from your account but are deducted from the underlying asset value and are reflected in the daily unit prices.

The estimated investment fees and costs range from 0.04% to 0.64% a year depending on your investment options.

1 These amounts are calculated based wholly or in part on previous financial year(s). The actual amount will change from year to year and may be more or less than the amount shown.
2 Investment fees and costs include an amount of 0.00% to 0.03% for estimated performance fees

Transaction costs1 are incurred when assets are bought and sold. They are not deducted directly from your account but are deducted from the underlying asset value and are reflected in the daily unit prices.

The estimated investment fees and costs range from 0.00% to 0.11% a year , depending on your investment options.

1 These amounts are calculated based wholly or in part on previous financial year(s). The actual amount will change from year to year and may be more or less than the amount shown.

A buy-sell spread fee is a fee to recover the cost of buying and selling various investments when you change your investment options.

Equip Super does not charge a buy-sell spread fee to your account.

A switching fee is a fee to recover the costs of switching all or part of your investment options.

Equip Super does not charge a switching fee to your account.

We offer a range of general advice and educational services, giving members the opportunity to receive general advice about Equip Super, issues relating to super, investment options, retirement planning, and related matters such as social security and estate planning. These services are offered over the phone, face-to-face, and through seminars and online tools. This is provided at no additional cost

Limited advice

Members can access personal advice relating to their interest in the Fund through our licensed financial services company, Equip Financial Planning, in limited circumstances. There is generally no cost for this advice although fees may apply if you use this service frequently. You'll be advised if this is to occur.

Comprehensive advice

You can also receive comprehensive advice on a fee-for-service basis, provided by Equip Financial Planning.

Call us for more information.

Other fees and costs may apply. You should read all the important information about fees and other costs because it’s important to understand their impact on your investments.

For full details on how they’re calculated and the applicable fees and costs for each investment option, refer to the product disclosure statement for your product.

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