BUSSQ FEES AND COSTS

The table below sets out the fees and other costs you may be charged. They may be deducted directly from your account balance, from the calculation of the option’s investment return before it's allocated to your account, or from the Fund’s assets as a whole. Other fees, such as activity, advice and insurance fees, may also be charged, depending on the nature of the activity, advice or insurance chosen by you. Entry fees and exit fees cannot be charged. See the PDS for more information.

Small differences in both investment performance and fees and costs can have a substantial impact on your long term results. For example, total annual fees and costs of 2% of your account balance rather than 1% could reduce your final return by up to 20% over a 30 year period (for example, reduce it from $100,000 to $80,000).

You should consider whether features such as superior investment performance or the provision of better member services justify higher fees and costs.

If you would like to find out more or see the impact of fees, based on your own circumstances, the government website moneysmart.gov.au has a superannuation fee calculator to help you check out different fee options. Fee definitions can be found at bussq.com.au/disclosure.

BUSSQ may change indirect cost ratio fees without notice. If BUSSQ changes non-percentage based fees (i.e. administration fees) we will notify you at least 30 days in advance of the change coming into effect. Your employer may be able to negotiate to pay lower administration fees. Ask the Fund or your Financial Adviser.

Type of Fee or Cost Amount How and when you pay
Investment fee^^ Nil BUSSQ does not charge an investment fee
Administration fee^^ $2.25 p.w. Deducted from your account monthly
Buy - sell spread Nil BUSSQ does not charge a buy - sell fee
Switching fee Nil BUSSQ does not charge an investment switching fee
Advice fee^ Nil BUSSQ does not charge a fee for straightforward advice relating to insurance, investment choice and contributions
Other fees and costs Varies Refer to Additional Explanation of Fees and Costs in the Super Handbook
Indirect cost ratio*^^    
External Fixed Investment Costs 0.80% Deducted from BUSSQ's earnings before BUSSQ declares a unit price
External Performance Fees 0.04% Deducted from BUSSQ's earnings before BUSSQ declares a unit price
Trustee Related Costs 0.20% Trustee related costs subject to high balance fee cap
Total 1.04%  

^^If your account balance is less than $6,000 at the end of the financial year (30 June), the total combined amount of investment fees, administration fees and indirect costs charged will be
capped at 3% of your account balance. Any amount in excess of that cap must be refunded to your account. Refer to the
Super Handbook.
^Fees may be charged for other personal advice provided by Skylight Financial Solutions on a per hour basis, refer to the Financial Services Guide.
*The Indirect Cost Ratio is an estimate based on the investment related costs (including performance related fees payable to external investment managers where applicable) incurred for the 12 months ended 30 June 2020 and the trustee related costs as at 1 July 2020. If actual costs vary considerably from this estimate, the estimate will be updated.

Example of annual fees and costs

This table provides an example of how the fees and costs in the Balanced Growth option can affect your super over a one year period. You should use this table to compare this product with other superannuation products.

Type of fee Amount Balance of $50,000 
Investment Fee Nil For every $50,000 you have in BUSSQ, you will be charged $0
PLUS    
Administration fee $117 p.a. And you will be charged $117 p.a. in administration fees regardless of your balance, this fee is deducted from your account monthly
PLUS    
Indirect costs  1.04% And indirect costs of $520 each year will be deducted from your earnings before a unit price is declared
EQUALS    
Cost of product
  If you had a balance of $50,000 throughout the year, you will be charged a total of $637 p.a.