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Costs and fees

Costs is a factor to consider when deciding whether to have your own self managed superfund. The costs can be separated into two components - the set-up costs, which is once off, and the other is the ongoing costs of compliance.

Ongoing compliance costs includes annual fees for fund accounting, fund taxation and audit of the fund. If the accounting, tax and audit fees is $1,000, and the fund has $100,000 in assets, the fees equates to 1 per cent. At the $250,000 level, it equates to 0.4 per cent.

More about our fees.

There are also other brokerage or transaction costs depending on the investments of the superfund.

All corporate, industry, and public offer superannuation funds charge fees. Do you know what fees you are currently paying and how much? Differences in the fees fund charge can have a big effect on what you may have to retire on. This effect may be more than you think and for this reason you need to consider what fees are being charged. For example, your final return could be reduced by 20% over 30 years if your total amount of fees and costs are 2% rather than 1% (eg, from $100,000 to $80,000). Some funds may also charge an exit fee if you leave the fund.