We've lowered administration fees for GESB Super
1 October 2021
As a result of a recent pricing review, we have reduced our administration fee for GESB Super accounts. This change took effect on 1 October 2021.
What's changed?
We reduced the percentage-based part of the administration fee for GESB Super accounts from 0.20% p.a. to 0.16% p.a. of your monthly account balance. There was no change to the account-keeping fee.
Here's an explanation of our administration fee
The cost for managing your account includes:
- A fixed account-keeping fee, and
- A percentage-based charge, which is calculated as a percentage of your monthly balance
The table below shows the previous fees and new fee amounts from 1 October.
| Type of fee or cost | Previous fee amount | Fee amount effective 1 October 2021 | How and when paid |
|---|---|---|---|
Administration fee The fee for managing your account | $66 p.a. ($5.50 per month) as an account keeping fee + 0.20% p.a. of your monthly account balance | $66 p.a. ($5.50 per month) as an account keeping fee + 0.16% p.a. of your monthly account balance | Deducted each month from your account |
Note: other fees and costs apply. For more information, see our GESB Super schedule of fees.
Learn more about GESB Super fees and costs.
No other accounts were impacted
No changes were made to West State Super, Transition to Retirement Pension, RI Allocated Pension or RI Term Allocated Pension administration fees at this time. Gold State Super and WA Public Sector Pension Scheme accounts weren’t affected.
More information
- For a full summary of fees and costs for your account, see the relevant schedule of fees or Product Information Booklet.
- You can use our Retirement planning calculator to help you work out the effect of fees and costs on your account.
- If you have any questions, contact your Member Services Centre.
Thank you for printing this page. Remember to come back to gesb.wa.gov.au for the latest information as our content is updated regularly. This information is correct as at 20 May 2024.