Brighter together: Further fee reductions for members from 1 January 2025

Frequently asked questions for advisers

How is the fee cap applied for partner linking?

When two Pension members link accounts, the percentage-based administration fee cap of $650 will apply once the combined balance across the linked accounts exceeds $464,286.

Accumulation and Transition to Retirement (TTR) members already receive a tax refund of 15% of their administration fee, resulting in a lower net administration fee overall. From 1 January 2025, Accumulation and TTR members who link accounts will continue to benefit from the 15% tax refund. When two Accumulation or TTR members link accounts, the percentage-based administration fee cap of $650 will apply once the combined balance across the linked members exceeds $546,219.

Any fees that have been charged in excess of the cap during the financial year will be credited back to the members’ linked accounts proportionately in the following year.

How can a member apply for partner linking?

Members will be able to take advantage of partner linking from early 2025. They will need to complete the Account Linking Request form with their partner, which will be available at brightersuper.com.au/forms from early 2025.

If a member is already on an existing arrangement, there’s no need to complete a new form.

Is the weekly account keeping fee included in the partner link cap?

No. Each member will still pay the $0.50 per week account keeping fee on their account, which is applied at the end of each month.

How can a member make a binding nomination?

The quickest and easiest way to make a binding nomination is via Member Online. It takes less than 10 minutes and there’s no need for anyone to witness their nomination.

Members need to log in to Member Online and select ‘Beneficiaries’, then:

• If they don’t currently have a nominated beneficiary, click ‘Add new beneficiary’ under ‘Binding nominations’.
• If they currently have a ‘preferred’ beneficiary nomination, click on the ‘Add new beneficiary’ tab and their preferred beneficiary will appear with an ‘Expiry’ label of ‘Non-lapsing’ (they can remove this beneficiary if no longer valid).

Members can add up to eight ‘Binding non-lapsing’ beneficiary nominations, then tick that they have read the member declaration and save.

Where can I find more details of the revised fees and costs?

From 1 January 2025, you can visit our Fees and Costs page or refer to the Investment and Fees Guide relevant to your client’s account.

Visit our web page for advisers >