Great news. On 1 October 2018 we lowered some of the fees for members in our Gateway Division and Divisions 6 and 7. We’ve done this as part of our commitment to find ways to provide more value to members. And who doesn’t like a reduction in fees!
What fees are dropping?
Your fixed administration fee component was lowered from $137 to $98 per annum on 1 October 2018. The other components of your administration fee are unchanged.
Divisions 6 and 7
Your salary-based administration fee dropped from 0.34% to 0.29% per annum on 1 October 2018. The APRA fee component of your administration fee remains unchanged.
Not in one of those divisions?
There have been no changes to the administration fees for other divisions. However, many members in other divisions already pay lower administration fees. Here’s a quick snapshot of administration fees for other divisions.
For members in Division 2, 3, 3A, 5 and 15
You pay zero administration fees. Your employer pays these for you.
For members in Division 10
You pay $1 per week, your employer covers the rest.
For members in Division 1
An amount is deducted from your account on 30 June each year based on the administration expenses for Division 1. The amount is calculated as a percentage of contributions. View these costs by logging into your account and viewing your most recent statement or give the helpline a call.
The fees and costs quoted on this page are current as at 1 October 2018.