Fees and costs | VicSuper

VicSuper FutureSaver

Type of fee or cost	Amount	How and when paid
Investment fee^1,2	An estimated percentage, depending on your investment option/s. Ranging from 0.00% pa to 0.78% (estimated). The investment fees for all investment options are provided on page 5 of the ‘Fees and costs’ Member Guide.	Deducted from the assets of the option or the assets of underlying investment vehicles before the unit price for an investment option is determined. Investment fees are not deducted directly from your account.
Administration fee¹ Account-keeping fee Administration fee	$52 pa plus 0.15% pa capped at $750 pa ($62.50 per month)	The account keeping fee is calculated daily and deducted from your account monthly, or on exit. The administration fee is calculated and deducted monthly based on the account balance at the end of the month. On exit, the fee is calculated based on the previous month end balance and prorated for the number of days in the Fund.
Buy-sell spread	Nil	Not applicable
Switching fee	Nil	Not applicable
Advice fees relating to all members investing in a particular investment option	Nil	No advice fee is charged for providing general and simple advice limited to your account.
Other fees and costs³	Comprehensive financial advice	Additional fees may be paid to a financial planner. The fees will depend on the complexity of the advice you are seeking. If you obtain complex financial advice from a planner in our financial planning business, you will be informed of the cost before you proceed. If you are issued with a statement of advice, it will contain details of the fees, which may be deducted from your account when the advice is received (or you may need to pay the fee directly).
Indirect cost ratio (ICR)¹	Nil	All indirect costs are included in Investment fees.

_{1. If your account balance for a product offered by us is less than $6,000 at the end of our income year, the total combined amount of administration fees, investment fees and
indirect costs charged to you is capped at 3% of your account balance. Any amount charged in excess of that cap must be refunded.

2. The investment fees are based on the estimated investment-related costs that these investment options incurred in the Victorian Superannuation Fund for the 12 months ended 30 June 2020, in addition to the 0.04% per annum Trustee charge (applicable to the diversified options only from 1 November 2020). Actual investment fees may vary depending on the fees and costs incurred by us in managing the investment option, and cannot be estimated precisely in advance. The figures disclosed are based on historical information provided to us by the former trustee of the Victorian Superannuation Fund.

3. For more information, please see ‘Additional explanation of fees and costs’ in the ‘Fees and costs’ Member Guide.}

VicSuper Flexible Income

Type of fee	Amount	How and when paid
Investment fee^1,2	An estimated percentage, depending on your investment option/s. Ranges between 0.00% pa and 0.89% pa (estimated). The investment fees for all investment options are provided on page 19 of the Flexible Income PDS (table 2).	Deducted from the assets of the option or the assets of underlying investment vehicles before the unit price for an investment option is determined. Investment fees are not deducted directly from your account.
Administration fee¹ Account-keeping fee Administration fee	$52 pa plus 0.20% pa capped at $1,500 pa ($125 per month).	The account keeping fee is calculated daily and deducted from your account monthly, or on exit. The administration fee is calculated and deducted monthly based on the account balance at the end of the month. On exit, the fee is calculated based on the previous month end balance and prorated for the number of days in the Fund.
Buy-sell spread	Nil	Not applicable
Switching fee	Nil	Not applicable
Advice fees Relating to all members investing in a particular investment option	Nil	No advice fee is charged for providing general and simple advice limited to your account.
Other fees and costs³	Comprehensive financial advice	Additional fees may be paid to a financial planner. The fees will depend on the complexity of the advice you are seeking. If you obtain complex financial advice from a planner in our financial planning business, you will be informed of the cost before you proceed. If you are issued with a statement of advice, it will contain details of the fees, which may be deducted from your account when the advice is received (or you may need to pay the fee directly).
Indirect cost ratio (ICR)¹	Nil	All indirect costs are included in Investment fees.

_{1. If your account balance for a product offered by us is less than $6,000 at the end of our income year, the total combined amount of
administration fees, investment fees and indirect costs charged to you is capped at 3% of your account balance. Any amount charged in excess of that cap
must be refunded.

2. The investment fees are based on the estimated investment-related costs that these investment options incurred in the Victorian Superannuation Fund for the 12 months ended 30 June 2020, in addition to the Management fee (applicable to the diversified and Australian Shares options from 1 November 2020). Actual investment fees may vary depending on the fees and costs incurred by us in managing the investment option, and cannot be estimated precisely in advance.

3. For more information, please see ‘Additional explanation of fees and costs’ in the VicSuper Flexible Income PDS.}

VicSuper Flexible Income (with Transition to Retirement)

Type of fee	Amount	How and when paid
Investment fee^1,2	An estimated percentage, depending on your investment option/s. Ranges between 0.00% pa and 0.78% pa (estimated). The investment fees for all investment options are provided on page 19 of the Flexible Income PDS (table 1).	Deducted from the assets of the option or the assets of underlying investment vehicles before the unit price for an investment option is determined. Investment fees are not deducted directly from your account.
Administration fee¹ Account-keeping fee Administration fee	$52 pa plus 0.20% pa capped at $1,500 pa ($125 per month).	The account keeping fee is calculated daily and deducted from your account monthly, or on exit. The administration fee is calculated and deducted monthly based on the account balance at the end of the month. On exit, the fee is calculated based on the previous month end balance and prorated for the number of days in the Fund.
Buy-sell spread	Nil	Not applicable
Switching fee	Nil	Not applicable
Advice fees Relating to all members investing in a particular investment option	Nil	No advice fee is charge for providing general and simple advice limited to your account.
Other fees and costs³	Comprehensive financial advice	Additional fees may be paid to a financial planner. The fees will depend on the complexity of the advice you are seeking. If you obtain complex financial advice from a planner in our financial planning business, you will be informed of the cost before you proceed. If you are issued with a statement of advice, it will contain details of the fees, which may be deducted from your account when the advice is received (or you may need to pay the fee directly).
Indirect cost ratio (ICR)¹	Nil	All indirect costs are included in Investment fees.

_{1. If your account balance for a product offered by us is less than $6,000 at the end of our income year, the total combined amount of
administration fees, investment fees and indirect costs charged to you is capped at 3% of your account balance. Any amount charged in excess of that cap
must be refunded.

2. The investment fees are based on the estimated investment-related costs that these investment options incurred in the Victorian Superannuation Fund for the 12 months ended 30 June 2020, in addition to the 0.04% per annum Trustee charge (applicable to the diversified options only from 1 November 2020). Actual investment fees may vary depending on the fees and costs incurred by us in managing the investment option, and cannot be estimated precisely in advance.

3. For more information, please see ‘Additional explanation of fees and costs’ in the VicSuper Flexible Income PDS.}

Guaranteed Income

Guaranteed Income - Guaranteed Income for Life product

Type of fee	Amount	How and when paid
Investment fee	Nil¹	Not applicable
Administration fee	0.15% pa of initial investment	Included in the calculation of the income payment (not deducted directly from an account of yours or from your income payments)
Buy-sell spread	Nil	Not applicable
Switching fee	Nil	Not applicable
Advice fees Relating to all members investing in the product	Nil	No advice fee is charged for providing general and simple advice limited to your account.
Other fees and costs	Comprehensive financial advice	Additional fees may be paid to a financial planner. The fees will depend on the complexity of the advice you are seeking. If you obtain complex financial advice from a planner in our financial planning business, you will be informed of the cost before you proceed. If you are issued with a statement of advice, it will contain details of the fees, which may be deducted from your account when the advice is received (or you may need to pay the fee directly).
Indirect cost ratio	Nil¹	Not applicable

_{1. Challenger Life and the Trustee do not impose additional fees or expense recoveries in relation to your account. In setting the amount of regular payments,
Challenger Life takes into account various assumptions about longevity and investment returns as well as the cost of providing the product to our
members. For more information about how Challenger Life derives income and the guarantee, see ‘Who provides the guarantee?’ on page 22.}

Guaranteed Income - Guaranteed Fixed Term Income product

Type of fee	Amount	How and when paid
Investment fee	Nil¹	Not applicable
Administration fee	RCV100 0.20% pa of initial investment RCV 0-99 0.20% pa of reducing initial investment²	Included in the calculation of the income payment (not deducted directly from an account of yours or from your income payments)
Buy-sell spread	Nil	Not applicable
Switching fee	Nil	Not applicable
Advice fees Relating to all members investing in the product	Nil	No advice fee is charge for providing general and simple advice limited to your account.
Other fees and costs	Comprehensive financial advice	Additional fees may be paid to a financial planner. The fees will depend on the complexity of the advice you are seeking. If you obtain complex financial advice from a planner in our financial planning business, you will be informed of the cost before you proceed. If you are issued with a statement of advice, it will contain details of the fees, which may be deducted from your account when the advice is received (or you may need to pay the fee directly).
Indirect cost ratio	Nil¹	Not applicable

_{1. Challenger Life and the Trustee do not impose additional fees or expense recoveries in relation to your account. In setting the amount of regular payments,
Challenger Life takes into account various assumptions about longevity and investment returns as well as the cost of providing the product to our
members. For more information about how Challenger Life derives income and the guarantee, see ‘Who provides the guarantee?’ on page 22.

2. The initial investment is reduced after each regular income payment by an amount calculated as: initial investment minus any residual capital value, divided
by the total number of income payments in the investment term.}

Our fees and costs

Why fees matter

The fees and costs you pay form an important part of your super. In fact the combination of competitive fees and solid investment returns can help your super balance grow over time. That’s because lower fees mean more money stays in your account, ultimately helping to boost your balance.

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