Fees & charges
As a RecruitmentSuper member, you will really benefit from lower fees and charges. As an industry fund, we try to keep them as low as possible.
This can make a big difference to the amount of money you receive in retirement!
| Management costs - As at 30 June 2011 |
||
| Type of fee or cost |
EasyChoice | SelectSuper/SelectPlus |
| Administration fee
Calculated weekly and deducted |
$1.55 per week | $1.55 per week |
| Expense recovery fee
Calculated weekly and deducted |
Up to 2.0% of account balance (capped at $60 p.a.) |
Nil |
| Withdrawal fee
Deducted from your account |
$35 | $35 |
The table below sets out the estimated investment fees for each investment option.
| Investment fees- As at 30 June 2011 | |
| Investment option | Fee (% p.a.) |
Pre-mixed options |
|
| Aggressive | 0.41 |
| Growth | 0.38 |
| Moderate | 0.32 |
| Stable | 0.26 |
Asset class options |
|
| Australian Shares | 0.39 |
| Overseas Shares | 0.39 |
| Property | 0.59 |
| Bonds | 0.23 |
| Cash | 0.07 |
These charges are effectively paid indirectly by members as they are deducted from the underlying investment returns of each investment manager. The total amount of investment related fees paid by a member is based on the amount invested in each investment option and deducted from the assets held on behalf of the fund before investment returns are determined by each Investment Manager and before unit prices are determined by the Trustee for each Investment Option.
Around 15% of the Fund's total assets are subject to potential payment of performance fees.
| Investment managers with performance fee conditions - As at 30 June 2011 | |||||
| Manager | Asset Class | Performance fee basis | Calculation period | Low | High |
| Cooper Investors AE Fund |
Australian Shares | 10% of performance in excess of benchmark. | Monthly (3 Year rolling high water mark) |
Nil | 0.60% |
| AMP Capital Shopping Centre Fund |
Property | 15% of the outperformance of the fund if the 3 year rolling equity internal rate of return of the fund exceeds the 3 year rolling average of the Australian 10 year Commonwealth Treasury Bond yield plus 3.5% pa, adjusted to assume performance fees have been paid. Total fees capped at 1% pa (exc GST) | Rolling 3 Years | Nil | 0.90% |
| AMP Capital Wholesale Office Fund | Property | 15% of the outperformance of the fund if the 3 year rolling equity internal rate of return of the fund exceeds the 3 year rolling average of the Australian 10 year Commonwealth Treasury Bond yield plus 3.5% pa, adjusted to assume performance fees have been paid. Total fees capped at 1%pa (exc GST) | Rolling 3 Years | Nil | 0.90% |
| Charter Hall CPOF | Property | Up to 15% of performance between 11% and 13% p.a. and 20% of performance in excess of 13% p.a. | Rolling 3 Years | Nil | 0.66% |
| K2 Advisors | Alternative Assets | 15% of outperformance over Bank Bill Rate + 1.0% pa | Annually | Nil | 1.44% |
| Macquarie RMBS | Alternative Assets | 15% of outperformance over Bank Bill Rate + 0.15% pa | Quarterly | Nil | 0.62% |
| Hastings UTA | Private Capital | 10% of any outperformance (realised gain) above the benchmark (benchmark: 10 year Commonwealth Bond yield +4%). Outperformance is determined only on the sale of any underlying asset where the sale proceeds exceed the aggregate of a benchmark return plus 4% in respect of the underlying asset after taking into account any aggregated realised underperformance. | Half-yearly (Continuous high watermark) | Nil | 1.51% |
Performance based fees are only charged by investment managers when performance hurdles are exceeded. The impact of performance based fees on the management costs applicable to an investment option depends on the amount invested with, and returns achieved by, the investment manager from year to year. In the same way that past investment returns are not a reliable indicator of future returns, past performance fees are not a reliable indicator of future performance fees. Performance fee calculations can be very complex. If you would like more information about how performance fees work, please contact us.
More information
For more information about the fees and charges that apply, refer to the relevant Product Disclosure Statement.
About the Fund
RecruitmentSuper is Australia’s leading industry fund for the recruitment and employment services sector, a range of membership options will help you get the solution you need. Experience the benefits of great value, low–fees and personalised support. With our simple, straight-forward solutions, we’re proud to be known as specialists in the recruitment industry.
We offer three membership categories to make sure you get the best solution for your needs. Choose from our EasyChoice, SelectSuper and SelectPlus RecruitmentSuper products, and enjoy the convenience of flexibility, options and services tailored to suit you.
Chances are, you’ve probably changed jobs, states, and careers a few times, collecting little pockets of super all over the place. Make sure you don’t miss out on your lost or unclaimed super. We can help you to consolidate super accumulated from different jobs over the years, so you don’t lose valuable funds. Read more
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Service Providers
RecruitmentSuper is a division of Professional Associations Super, an industry fund with over 445,000 members across Australia and over $1.5 billion of funds under management. Professional Associations Super divisions include SMARTpension, Australian Enterprise Super, and Accountants Super
Find us by searching: Recruitment Super, Recruitment Super Australia, Recruitment Superannuation, Consolidate Super, Consolidate Superannuation, Consolidate Superannuation Funds, Consolidate your super, Consolidate Your Super Funds, Life Insurance Superannuation, Recruitment Super Fund, Recruitment Superannuation Fund
This information is of a general nature only and does not take into account your personal objectives, situation or needs. Before making a decision about RecruitmentSuper, you should consider your own requirements and the relevant Product Disclosure Statement. Contact us for a copy.