Pension fees

Fees and costs summary

Type of fee	Amount	How and when you pay
Investment fee1,2	The estimated investment fees range from 0.07% each year up to 0.76% each year depending on your chosen investment option. You can see the Estimated investment fee  for each investment option in the table below.	Deducted from investment returns before they're credited to your account. Performance related fee estimates are included in the investment fee.
Administration fee2	$783 plus 0.21% of your account balance each year (the percentage fee is capped at $1,2003 each year).	Calculated daily and deducted monthly from your account.
Buy-sell spread	0%	Not applicable.
Switching fee	$0	Not applicable.
Advice fees relating to all members investing in a particular investment option.	$0	For intra-fund advice only.
Other fees and costs	Other fees and costs, such as activity fees and advice fees for personal advice, may be charged, but these will depend on the nature of the activity or advice. See below for more information.
Indirect cost ratio2,4	The estimated indirect cost ratio ranges from 0.00% each year up to 0.37% each year depending on your chosen investment option. You can see the estimated indirect cost ratio for each investment option in the Estimated investment fee table below	Deducted from your investment returns before they are credited to your account.

Defined fees

The following fee definitions are required to be disclosed as per Schedule 10 of the Corporations Regulations 2001.

Activity fees

A fee is an activity fee if:

a) the fee relates to costs incurred by the trustee of the superannuation entity that are directly related to an activity of the trustee:

1. that is engaged in at the request, or with the consent, of a member or
2. that relates to a member and is required by law and

b) those costs are not otherwise charged as an administration fee, an investment fee, buy-sell spread, a switching fee, an advice fee or an insurance fee.

Administration fees

An administration fee is a fee that relates to the administration or operation of the superannuation entity and includes costs that relate to that administration or operation, other than:

a) borrowing costs and

b) indirect costs that are not paid out of the superannuation entity that the trustee has elected in writing will be treated as indirect costs and not fees incurred by the trustee of the entity or in an interposed vehicle or derivative financial product and

c) costs that are otherwise charged as an investment fee, a buy-sell spread, a switching fee, an activity fee, an advice fee or an insurance fee.

Our administration fees cover the day‑to‑day management of member accounts and operation of the fund. This includes items such as compliance costs, licence fees, office rent, audits, provision of member statements and processing transactions.

Advice fees

A fee is an advice fee if:

a) the fee relates directly to costs incurred by the trustee of the superannuation entity because of the provision of financial product advice to a member by:

1. a trustee of the entity or
2. another person acting as an employee of, or under an arrangement with, a trustee of the entity and

b) those costs are not otherwise charged as an administration fee, an investment fee, a switching fee, an activity fee or an insurance fee.

We can provide you with general advice on your Tasplan account. If you need personal advice, you can meet with a Tasplan financial planner. Our planners have set fees for advice. Tasplan financial planners are authorised representatives of Quadrant First Pty Ltd (ABN 78 102 167 877, AFS Licence No. 284443), a wholly owned subsidiary of Tasplan Pty Ltd operating as a separate legal entity.

The Statement of advice provided by your financial expert will state the fees, if any, that you’ll pay.

Buy-sell spreads

A buy-sell spread is a fee to recover transaction costs incurred by the trustee of the superannuation entity in relation to the sale and purchase of assets of the entity.

We don't charge buy-sell spreads.

Exit fees

An exit fee is a fee to recover the costs of disposing of all or part of members’ interests in the superannuation entity.

Exit fees recover the costs of full and part withdrawals.

We don't charge exit fees. 

Indirect cost ratio

The indirect cost ratio, for an investment option or an investment option offered by a superannuation entity, is the ratio of the total of the indirect costs for the investment option, to the total average net assets of the superannuation entity attributed to the investment option.

Note: a fee deducted from a member’s account or paid out of the superannuation entity is not an indirect cost.

The indirect cost ratio includes the costs related to the management of your investment options, including transactional and operational costs. These costs are deducted from investment returns before they’re credited to your account or reduce the earnings received from underlying investments within your investment options.

You can see the estimated indirect cost ratio for each investment option in the Estimated investment fee table below.

Investment fees

An investment fee is a fee that relates to the investment of the assets of a superannuation entity and includes:

a) fees in payment for the exercise of care and expertise in the investment of those assets (including performance fees) and

b) costs that relate to the investment of assets of the entity other than:

1. borrowing costs and
2. indirect costs that are not paid out of the superannuation entity that the trustee has elected in writing will be treated as indirect costs and not fees incurred by the trustee of the entity or in an interposed vehicle or derivative financial product and
3. costs that are otherwise charged as an administration fee, a buy-sell spread, a switching fee, an activity fee, an advice fee or an insurance fee.

This includes investment fees relating to your chosen investment options and performance related fees, if applicable. The investment fee for each investment option varies depending on the nature of the underlying investments.

This fee recovers the indirect investment fees and costs associated with the investment and management of the fund’s assets. These fees are deducted from investment returns before they are credited to your account.

Performance related fees

Some of our investment managers can earn additional fees, called performance related fees, if their investment returns exceed an agreed target rate. The target rate is based on the benchmark return for that asset class and the investment manager.

The estimated performance related fees are based on the estimated expected outperformance of each fund manager against agreed targets. When a manager has been appointed on a performance fee basis, the fee depends on whether and by how much the manager has exceeded the agreed target. As such, the actual performance related fees can’t be determined.

When we've engaged an investment manager on a performance fee arrangement, a provision for the fee will be deducted from the investment fee of the relevant investment option, and will be passed on to members by way of an adjustment to the unit price. The provision for the performance fee is reconciled against the actual performance fee incurred on a regular basis.

We'll apply a performance fee if it anticipates that it will be payable to an investment manager.

The table below shows the costs of managing your investment options.

Investment option	Estimated investment fee each year1			Estimated indirect cost ratio5
	Investment fee (base)	Performance related fee	Total
Long-term6	0.43%	0.02%	0.45%	0.22%
Growth	0.53%	0.03%	0.56%	0.22%
Sustainable	0.65%	0.11%	0.76%	0.23%
Balanced	0.47%	0.03%	0.50%	0.22%
Moderate	0.33%	0.02%	0.35%	0.17%
Conservative	0.30%	0.01%	0.31%	0.16%
Australian shares	0.34%	0.00%	0.34%	0.22%
International shares	0.55%	0.00%	0.55%	0.12%
Property	0.65%	0.11%	0.76%	0.37%
Fixed interest	0.18%	0.00%	0.18%	0.07%
Cash	0.07%	0.00%	0.07%	0.00%

Switching fee

A switching fee for a superannuation product is a fee to recover the costs of switching all or part of a member’s interest in a superannuation entity from one class of beneficial interest in the entity to another.

We don't charge fees for switching investment options.

Transactional and operational costs

Transactional and operational costs can include:

• brokerage
• buy-sell spread
• settlement costs (including custody costs)
• clearing costs
• stamp duty on an investment transaction
• costs incurred in or by an underlying investment entity that would be transactional and operational costs if incurred by the fund.

Transactional and operational costs depend on the type and complexity of the underlying assets within each of our investment options. They are a cost to members and are included in the indirect cost ratio, they are not directly charged to your account. They may be deducted from investment returns before they are credited to your account or reduce the earnings distributed to us from the underlying assets within your investment options. The table below shows the transactional and operational costs for each investment option.

Property operating costs

Property operating costs relate to property investments within our investment options and include costs such a property maintenance and management costs. Property operating costs aren’t included in the indirect cost ratio and are an additional cost, however your account is not directly charged. Property operating costs may reduce the earnings for the underlying asset before they distributed to us.

Estimated property operating costs are shown in the table below.

Borrowing costs

While we don't borrow money, some entities who manage the underlying investments within our investment options may borrow and incur borrowing costs. Examples of borrowing costs include interest, establishment fees, administrative fees and other fees for maintaining the loans, borrowing costs are not directly charged to your account but may reduce the earnings for the underlying asset before they are distributed to us. They are not included in the investment fee or indirect cost ratio.

The following table shows estimated transactional and operational costs, property operating costs and borrowing costs. These costs have been estimated based on costs incurred in 2019-20. The property operating and borrowing costs are additional costs that generally reduce the earnings of underlying investment within your investment options. The transactional and operational costs are included in the indirect cost ratio.

Investment option	Estimated property operating costs each year	Estimated borrowing costs each year	Estimated transactional and operational costs included in the indirect cost ratio each year
Long-term6	0.07%	0.07%	0.22%
Growth	0.07%	0.08%	0.22%
Sustainable	0.13%	0.12%	0.23%
Balanced	0.08%	0.08%	0.22%
Moderate	0.08%	0.07%	0.17%
Conservative	0.06%	0.06%	0.16%
Australian shares	0.00%	0.00%	0.22%
International shares	0.00%	0.00%	0.12%
Property	0.73%	0.65%	0.37%
Fixed interest	0.00%	0.00%	0.07%
Cash	0.00%	0.00%	0.00%

Tax on fees

Fees shown on this page include GST and stamp duty, if applicable. 

Next steps

For more information, check out the Fees and costs section of the Tasplan Pension guide.

 

• 1

  Investment and performance related fees are based on estimated annual fees for a full financial year and are indicative only. Future investment fees will vary mainly due to the underlying investments used, performance and asset allocation.

• 2

  If your account balance for a product offered by Tasplan is less than $6,000 at 30 June each year or when you close your Tasplan account, the total combined amount of administration fees, investment fees and indirect costs charged to you is capped at 3% of the account balance. Any amount charged in excess of that cap must be refunded. If you hold more than one Tasplan Pension, we’ll assess these separately.

• 3

  If you hold more than one Control or Managed Pension, the $78 yearly fee is only charged once and will be applied proportionally across all pension accounts. The percentage fee cap of $1,200 will apply on the combined total of these pension accounts.

• 4

  The indirect cost ratio is estimated based on costs incurred during the 2019-20 financial year.

• 5

  The indirect cost ratio is estimated based on actual costs incurred in 2019-20 and vary from year-to-year.

• 6

  The Long-term option is only available in the Managed Pension.