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.