Fees & costs

As a fully independent, profit-to-members super fund, our fees are competitive; designed to meet the cost of fund operations, and not to maximise profit.

What does it mean?

Fully independent: it means we are not tied to any third parties, that can influence the direction we take, including the fees we charge. As an independent super fund, we have control over what we need to do to deliver the best outcomes for our members.

Profit-to-member: this means we are run for the benefit of our members only, we do not pay any profit to shareholders.

What are our fees?

The fees we charge can be divided into five main categories:

Administration fee: charged to run your super account.
Investment fee: charged for the professional management of the investments that make up your super.
Insurance fees: charged for insurance in your super if you have insurance with us.
Indirect cost ratio including Performance Based Fees (PBF): the ratio of indirect management costs to Prime Super's total average net assets. This fee is not deducted directly from your account. Rather, they are estimated costs deducted from our overall investment earnings before we declare earnings rates that are credited to your account.
Other fees and costs: other fees like government taxes and charges, operational risk reserve, transactional and operational costs, etc.

Type of fee	Amount	How and when paid
Administration fee	$1.53 gross per week ($1.30 net per week or $67.60 p.a. deducted from your account and shown in your statement) Balances below $6,000 are not charged an administration fee.	The administration fee is deducted from your super account on the last business day of each month.
Investment fee	0.588% gross p.a. (0.50% net p.a.) of your account balance for the first $100,000, then nil on amounts over $100,000. Balances below $6,000 are not charged an investment fee.	The investment fee is deducted from your super account on the last business day of each month.
Insurance fees	Various factors affect the fees you pay for insurance cover. See our Product Disclosure Statement (PDS) and Member Guide to find out more about insurance fees.	The insurance fees are deducted from your super account on the last business day of each month.
Indirect cost ratio including Performance Based Fees (PBF) MySuper Managed Growth Alternatives Conservative Income Focused SRI balanced option Australian Shares International Shares Property Fixed Interest Cash	A percentage which based on the investment option you select, ranging between 0.04% - 1.06% per year. The indirect cost ratio for the Fund's investment options: 0.51% (including PBF of 0.06 %) 0.52% (including PBF of 0.08 %) 0.71% (including PBF of 0.02 %) 0.35% (including PBF of 0.03 %) 0.57% (including PBF of 0.02%) 1.06% (no PBF paid) 0.63% (including PBF of 0.12 %) 0.44% (including PBF of 0.12 %) 0.78% (no PBF paid) 0.30% (no PBF paid) 0.04% (no PBF paid)	Indirect costs are deducted from Prime Super's investment earnings before the declaration of earning rates. This cost is not deducted directly from your super account.
Buysell spread	Nil	N/A
Switching fee	Nil	N/A
Advice fees relating to all members investing in a particular MySuper product or investment option	Nil	There is no direct cost for limited personal advice over the phone regarding personal contribution strategies, investment and insurance options relating to your Prime Super account.
Other fees and costs	Depending on the choices you make and the activity of your Prime Super account, you may incur other fees like government taxes and charges, operational risk reserve, transactional and operational costs, etc. See our Product Disclosure Statement (PDS) and Member Guide to find out more about these fees and costs.	Other fees and costs maybe payable directly from your super account.

*Refer https://www.primesuper.com.au/member/resources/news/a-top-10-performance-for-our-mysuper-option/