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||0.78%||Deducted from BUSSQ's earnings before BUSSQ declares a unit price|
|External Performance Fees||0.05%||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|
^^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 31 December 2019 and the trustee related costs as at 1 July 2019. 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|
|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|
|Indirect costs||1.03%||And indirect costs of $515 each year will be deducted from your earnings before a unit price is declared
|Cost of product
||If you had a balance of $50,000 throughout the year, you will be charged a total of $632 p.a.