How the new fee will be charged

The new Administration fee component is calculated based on the value of your account balance. The fee is variable, up to a maximum of 0.04% per year of your account balance. The fee will be deducted from investment returns daily, before returns are added to your account. This fee is in addition to the administration fee of $2.25 per week and investment fees.*

For the 2019/20 financial year, the total annual amount will be charged over a 3-month period from 1 April 2020 to 30 June 2020. From 1 July 2020 the amount will be charged over the financial year.



For example, if you have an account balance of $50,000, you’ll be charged up to $20 between 1 April 2020 and 30 June 2020 and up to $20 per year from 1 July 2020 onwards.

+Insurance and other fees and costs may apply.

The new fee does not apply to Choice Income or Transition to Retirement Income accounts.

You don't need to do anything

The fee will automatically apply to your account from 1 April 2020. It will be shown on your 2019/20 Annual Statement.

Find out more about the changes

See the Significant Event Notice and FAQs for more information about the fee changes.