What are the RI Allocated Pension fees?
Fees and other costs
Below is a general guide to the fees and costs for an RI Allocated Pension account.
Other fees, such as fees for personal advice, might be charged, depending on the type of advice you choose. Entry fees and exit fees will not be charged.
Type of fee or cost | Amount | How and when paid |
---|---|---|
Ongoing annual fees and costs1 | ||
Administration fees and costs The fee for managing your account | Nil | Not applicable
|
Investment fees and costs2 | Estimated to be between 0.18% p.a. and 0.53% p.a. of the value of your investment, depending on which investment plan you choose | Fees and costs that relate to the investment of assets that are not charged directly to your account as an administration fee or other fee. These costs are deducted from the fund assets, before the unit price is calculated on a daily basis |
Transaction costs | Estimated to be between 0% p.a. and 0.14% p.a. of the value of your investment, depending on which investment plan you choose | Transaction costs are costs incurred when assets are bought and sold. Transaction costs are incurred over the course of the year and disclosed as a percentage of the average assets of the relevant investment option3 |
Member activity-related fees and costs | ||
Buy-sell spread | Nil | Not applicable |
Switching fee The fee for changing your investment plan | Nil | Not applicable |
Other fees and costs | Nil | Other fees and costs such as activity fees, advice fees or insurance fees may apply. Please refer to the ‘Additional explanation of fees and costs’ section on page 13 of the Retirement Income Product Information Booklet |
For more information on the types of fees and costs that may apply to your account, see page 10 of the Retirement Income Pension Product Information Booklet.
We may make changes to the fees we charge
From time to time, we might need to change our fees to make sure the structure and level of fees is appropriate, including any extra costs from government taxes or statutory charges.
We’ll always let you know about any changes through our website or your member statement. If the change is an increase in fees or charges, we’ll give you at least 30 days’ notice.
1 If your account balance is less than $6,000 at the end of the financial year, certain fees and costs charged to you in relation to administration and investment are capped at 3% of the account balance. Any amount charged in excess of that cap must be refunded.
2 Investment fees and costs includes an amount of 0.00% p.a. to 0.06% p.a for performance fees. The calculation basis for this amount is set out under the ‘Additional explanation of fees and costs’ section on page 13 of the Retirement Income Product Information Booklet. Please note, the transaction costs percentage is also included in the investment fees and costs percentage shown in the table.
3 Please see the ‘Additional explanation of fees and costs’ section on page 13 of the Retirement Income Pension Product Information Booklet, which provides further detail about the items included in transaction costs.
More information
Need help
- Attend a seminar
- Book a Retirement Options Service appointment
- Call us on 13 43 72
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