Working hard to keep our fees low, for the benefit of all members

Administration fees and costs are fees and costs that relate to the administration or operation of the superannuation entity and includes costs incurred by the trustee of the entity that:

1. relate to the administration or operation of the entity, and
2. are not otherwise charged as investment fees and costs, transaction costs, a buy-sell spread, a switching fee, an activity fee, an advice fee or an insurance fee.

Investment fees and costs are fees and costs that relate to the investment of the assets of a superannuation entity and includes:

1. fees in payment for the exercise of care and expertise in the investment of those assets (including performance fees), and
2. costs incurred by the trustee of the entity that:
   1. relate to the investment of assets of the entity, and
   2. are not otherwise charged as administration fees and costs, a buy-sell spread, a switching fee, an activity fee, an advice fee or an insurance fee.

Investment fees and costs relate to the management of your super into different assets. These fees vary depending on how your super is invested.

Transaction costs are costs associated with the sale and purchase of assets of the superannuation entity other than costs that are recovered by the superannuation entity charging buy-sell spreads. Transaction costs are amounts incurred in buying and selling assets (for example, brokerage and settlement costs) that are not otherwise included in the buy-sell spread of an investment option.

Performance fees are payable when investment returns exceed an investment manager’s benchmark and form part of the investment fee. Generally, these fees are calculated as a percentage of the investment returns that exceed an agreed level of return. For some investments, if the investment returns are below each manager’s benchmark, no performance fee is payable until the underperformance has been made up.

Performance fees are included in the investment fees and costs for each investment option – they are not charged separately.

The below table outlines the performance fee for each investment option and are included in the investment fees and costs shown above.

Administration and Investment fees cover the actual costs of administration and investment management paid out of Brighter Super and, as such, may vary from year to year. The actual investment fees deducted from investment earnings each financial year are reported to you in the Annual Report to members.

Before the start of each financial year Brighter Super estimates the Investment fees and costs and transaction costs for the year ahead and these estimates only change where necessary to ensure costs are covered.

Brighter Super reserves the right to make changes to the fees and costs charged without your prior consent. We will notify you at least 30 days in advance if a change results in an increase in the fees and costs charged directly to your account.

A fee is an insurance fee for a superannuation product if:

1. the fee relates directly to either or both of the following:
   1. insurance premiums paid by the trustee, or the trustees, of a superannuation entity in relation to a member or members of the entity,
   2. costs incurred by the trustee, or the trustees, of a superannuation entity in relation to the provision of insurance for a member or members of the entity, and
2. the fee does not relate to any part of a premium paid or cost incurred in relation to a life policy or a contract of insurance that relates to a benefit to the member that is based on the performance of an investment rather than the realisation of a risk, and
3. the premiums and costs to which the fee relates are not otherwise charged as administration fees and costs, investment fees and costs, transaction costs, a switching fee, an activity fee or an advice fee.

These costs (or ‘premiums’) are to cover any insurance cover you have with us. These fees are deducted from your account each month.

For more information about our insurance offering, please refer to the relevant Insurance Guide or our insurance.

If you’re a member, you can login to your account to view your insurance cover and monthly premium.

A fee is an advice fee if:

1. the fee relates directly to costs incurred by the trustee of the superannuation entity because of the provision of financial product advice to a member by:
   1. a trustee of the entity; or 
   2. another person acting as an employee of, or under an arrangement with, the trustee of the entity; and
2. those costs are not otherwise charged as an administration fee and costs, an investment fee and costs, transaction costs, a buy-sell spread, a switching fee, an activity fee or an insurance cost.

A Brighter Super financial adviser can also help keep you on the path to financial success, by providing you with the advice and support you need over the long term. Brighter Super also offers a range of advice services to help you plan, protect and grow your retirement savings.

Brighter Super offers members intrafund advice as part of the administration fees and costs.

If you engage with a financial adviser and receive personal advice, the cost of this advice may be deducted from your account. Personal advice is where one or more of your personal objectives, financial situation and needs are considered when providing the advice. The financial adviser must also disclose the details of any advice fees in the Statement of Advice they provide to you. Brighter Super may at its discretion reduce or refuse to deduct a personal advice fee. Any personal advice fee may include GST.

For more details on our financial advice services, please refer to our Financial Services Guide or our advice page.