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One of Australia’s best value-for-money funds

Independent superannuation research and ratings company, SuperRatings, describes VicSuper as ‘one of the best value for money funds’ in Australia and has awarded us its highest rating – the Platinum Performance rating, seven years running (2013-20).

Award winning service and advice



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.

Our fees and costs
  • VicSuper FutureSaver
    Type of fee Amount How and when paid
    Investment fee1,3 Ranges between 0% pa and 0.32% (estimated) The investment fee accrues daily and is included in the calculation of the unit prices which determines your investment returns. It is not deducted directly from your account.
    Administration fee1

    Account-keeping fee
    Administration fee
    $1.50 per week plus
    0.19% pa
    The administration fee and account keeping fee are deducted from your account at the end of each month in arrears. These fees are capped at a combined total of $125 per month per account.
    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 costs2 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)1,3 Ranges between 0% pa and 0.54% pa (estimated) The ICR accrues daily and is included in the calculation of unit prices which determines your investment returns. It is not deducted directly from your account.

    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. For more information, please see ‘Additional explanation of fees and costs’ in the ‘Fees and costs’ Member Guide.
    3. The investment fees and ICR 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. Actual investment fees and indirect costs 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. It is anticipated that the investment fees and ICRs incurred in the 2020/21 financial year will change as a result of the transfer of the products to the Fund and a restructure of the underlying investment portfolios and associated reduced fee and cost structures. If it becomes apparent that actual costs will differ materially the estimates will be updated
  • VicSuper Flexible Income
    Type of fee Amount How and when paid
    Investment fee1,3 Ranges between 0% pa and 0.32% pa (estimated) The investment fee accrues daily and is deducted from the investment option/s in which you invest. They are included in the calculation of the unit prices, which determines your investment returns. They are not deducted directly from your account.
    Administration fee1

    Account-keeping fee
    Administration fee
    $1.50 per week plus
    0.22% pa
    The administration fee and account-keeping fee are deducted from your account at the end of each month in arrears.

    These fees are capped at a combined total of $125 per month per account.
    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 costs2 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)1,3 Ranges between 0% pa and 0.54% pa (estimated) The ICR accrues daily and is deducted from the investment option/s in which you invest. They are included in the calculation of unit prices, which determines your investment returns. They are not deducted directly from your account.

    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. For more information, please see ‘Additional explanation of fees and costs’ in the VicSuper Flexible Income PDS.
    3. The investment fees and ICR 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. Actual investment fees and indirect costs 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. It is anticipated that the investment fees and ICRs incurred in the 2020/21 financial year will change as a result of the transfer of the products to the Fund  and a restructure of the underlying investment portfolios and associated reduced fee and cost structures. If it becomes apparent that actual costs will differ materially the estimates will be updated.
  • VicSuper Flexible Income (with Transition to Retirement)
    Type of fee Amount How and when paid
    Investment fee1,3 Ranges between 0% pa and 0.32% pa (estimated) The investment fee accrues daily and is deducted from the investment option/s in which you invest. They are included in the calculation of the unit prices, which determines your investment returns. They are not deducted directly from your account.
    Administration fee1

    Account-keeping fee
    Administration fee
    $1.50 per week plus
    0.22% pa
    The administration fee and account-keeping fee are deducted from your account at the end of each month in arrears.

    These fees are capped at a combined total of $125 per month per account.
    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 acount.
    Other fees and costs2 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)1,3 Ranges between 0% pa and 0.54% pa (estimated) The ICR accrues daily and is deducted from the investment option/s in which you invest. They are included in the calculation of unit prices, which determines your investment returns. They are not deducted directly from your account.

    1. If your account balance for a product offered by usis 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. For more information, please see ‘Additional explanation of fees and costs’ in the VicSuper Flexible Income PDS.
    3. The investment fees and ICR 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. Actual investment fees and indirect costs 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. It is anticipated that the investment fees and ICRs incurred in the 2020/21 financial year will change as a result of the transfer of the products to the Fund and a restructure of the underlying investment portfolios and associated reduced fee and cost structures. If it becomes apparent that actual costs will differ materially the estimates will be updated.
  • 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.

We’re a profit-to-member fund and that’s good news for you
We’re a profit-to-member fund. That means we place any profits in a reserve for the benefit of our members. We use this reserve to help keep our fees as low as possible, and to develop the great products and services that our members have come to expect from us.
Fees for other products and services
Insurance premiums for FutureSaver members

If you have any insurance cover through your VicSuper FutureSaver account, the applicable premiums will be deducted from your account monthly. You can find out more in the Insurance Handbook (PDF 3mb).

Advice fees

In most cases, VicSuper members receive superannuation advice at no extra cost. In cases where fees for financial advice do apply, these will be clearly explained to you in advance so you can decide if you wish to proceed.

Tell me more about advice

Learn more about insurance

Advice fees

You can choose from a range of services we offer– both digitally and face-to-face – from simple phone advice at no additional fee through to more complex financial planning on a fee for service basis. You only pay for the service you use. If the advice relates to your super with us, it may be possible to have the fees deducted directly from your super account.

Tell me more about advice   Learn more about insurance

 

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