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Fees and costs for APSS Member Savings

While the APSS does not charge administration fees, there are certain other fees and costs that are deducted from the assets of the APSS before Crediting Rates for Member Savings are determined. These fees and costs will depend on whether your Member Savings are in Market Return Member Savings or Cash Return Member Savings, or a combination of both.

 

The table below sets out the fees and costs that you may be charged for APSS Member Savings. You can use this information to compare fees and costs between different super products. Fees and costs can either be deducted directly from your account or from investment returns.

 

Type of fee

Amount

How and when paid

 

Cash Return

Market Return

 

Investment fee

Nil

Nil

Not applicable

Administration fee

Nil

Nil

Not applicable

Buy-Sell spread

Nil

Nil

Not applicable

Switching fee

Nil

Nil

Not applicable

Exit fee

Nil

Nil

Not applicable

Advice fees relating to all member investing in a particular option

Nil

Nil

Not applicable

Investment Cost Ratio (ICR)*

0.04% plus

ORR levy** of 0.11%

0.95%  plus

ORR levy** of 0.11%

Deducted from the returns of the relevant investment portfolio before interim and final Crediting Rates are set

 

* The ICR figures are estimates of the indirect costs incurred by the APSS for each investment option and include transaction costs where applicable. These costs cannot be calculated precisely in advance so the indirect cost figures shown in the table are an estimate based on the indirect costs of each investment option for the 2014-15 financial year. The actual indirect costs for each investment option are likely to vary from year to year. Please refer to the 'Fees and costs' section of the Product Disclosure Statement relevant to your membership category.

 

** The Operational Risk Reserve (or ORR), levy has been established to maintain and manage financial resources to cover operational risks and is mandated by law. For a detailed description, please refer to the 'Fees and costs' section of the Product Disclosure Statement relevant to your membership category.

 

Other fees and costs

Other fees, such as activity fees, may also be charged, but these will depend on your account activity. Please refer to the Fees and Costs section of the Product Disclosure Statement relevant to your membership category.

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