Fees and costs

Details of the fees and costs that you could pay as a Vision Super member.

As your super fund, you are our focus and we’re always looking for ways to keep costs low and invest in a better and sustainable future. This page provides details of the fees and costs that you could pay as a Vision Super member.

For detailed information regarding our fees and costs, please refer to the relevant Product Disclosure Statement.

Super account fees

Most Vision Super members are invested in our MySuper investment option, Balanced growth.

The table below gives an example of the fees and costs for a MySuper member with $50,000 invested in the Balanced growth option for one year.  

MySuper account invested in Balanced growth

Example – MySuper (Balanced growth)Balance of $50,000
Administration fees and costs$78 pa ($1.50 per week) plus 0.14% of your account balanceFor every $50,000 you have in the superannuation product, you will be charged or have deducted from your investment $70 in administration fees and costs, plus $78 regardless of your account balance.1
Plus Investment fees and costs0.54%And 2 you will be charged or have deducted from your investment $270 in investment fees and costs.
Plus Transaction costs0.09%And2 you will be charged or have deducted from your investment $45 in transaction costs.
Equals Cost of product  If your balance was $50,000 at the beginning of the year, then for that year you will be charged fees and costs of $463* for the superannuation product.
Additional fees may apply
1. Administration fees and costs are comprised of
  • A flat fee of $78 (regardless of your account balance)
  • Plus a % based fee, which is $70 for every $50,000 you have in the superannuation product, up to a maximum of $540.

2. For every $50,000 you have in the superannuation product, Investment fees and costs and transaction costs will apply.

Administration fees and costs 

The administration fees and costs are made up of three components: 

> A flat dollar fee of $1.50 per week ($78p.a.) 

> An asset based fee of 0.14% of your account balance capped at $540 pa, and 

> If charged, a reserving margin ranging from 0.00% to 0.02% which is reflected in the daily unit price. 

Currently the reserving margin is nil.

Investment fees and costs

The Investment fee includes investment expenses relating to the investment management of Vision Super’s assets, such as base and performance related fees paid to investment managers and advisers, management fees charged in investment vehicles, explicit transaction costs incurred by investment managers, asset consulting fees, bank fees, custodian fees and internal Vision Super costs related to the management of the fund’s assets. For further information about performance related fees, as well as investment related expenses that are not included in the investment fees, refer to applicable PDS.

Investment fees are taken into account in the calculation of the unit prices for the investment options and are therefore reflected in the returns allocated to your account through changes in the unit prices.

Pre-mixed optionsInvestment fees and costs (i)Single sectorInvestment fees and costs (i)
Growth0.61%Just shares0.35%
Balanced growth0.54%Australian equities0.21%
Sustainable balanced0.12%International equities0.44%
Balanced0.48%Innovation & Disruption0.55%
Conservative0.36%Infrastructure0.69%
  Property0.61%
  Diversified bonds0.08
  Cash0.03%

(i) Investment fees and costs in respect of all investment options other than the Property option and Infrastructure option are an estimate based on the fees and costs incurred over the year ended 30 June 2020. These estimates reflect actual amounts for the year ended 30 June 2020 where available and some estimated components. Investment fees and costs for the Property option and Infrastructure option are an estimate of anticipated investment fees and costs for the 2020/2021 financial year as at the date of preparation of this document. The actual amount of investment fees and costs that you will incur in the current and subsequent financial year(s) depends on the investment option(s) you are invested in and actual investment fees and costs incurred by Vision Super from year to year in relation to the option(s).

How do we compare?

Example fees for a $50,000 super account


$463
Vision Super Saver fees
$645
Average super fees 1

 

1 - SuperRatings average fee for a $50,000 super account balance – SuperRatings Fundamentals Report July 2020

Pension account fees

Vision Super also has pension products.  The table below gives an example of the fees and costs for a Account Based Pension or Non-commutable account based pension member with $50,000 invested in Balanced growth option for one year.  

Account based pension or Non-commutable Account based pension invested in Balanced growth

Example – Balanced growthBalance of $50,000
Administration fees and costs0.35% of your account balanceFor every $50,000 you have in the superannuation product, you will be charged or have deducted from your investment $175 in administration fees and costs1.
PLUS Investment fees and costs0.54%AND2 you will be charged or have deducted from your investment $270 in investment fees and costs.
PLUS Transaction costs0.09%AND2 you will be charged or have deducted from your investment $45 in transaction costs.
EQUALS Cost of product If your balance was $50,000 at the beginning of the year, then for that year you will be charged fees and costs of $490* for the superannuation product.
1. Administration fees and costs are comprised of a % based fee which is $175 for every $50,000 you have in the superannuation product up to a maximum of $1,050

2. For every $50,000 you have in the superannuation product, Investment fees and costs and Transaction costs will apply.

Administration fees and costs

For every $50,000 you have in the superannuation product, Investment fees and costs and Transaction costs will apply.

Investment fees and costs

The fee amounts depend on the investment option (or options) you’re invested in.

The Investment fee includes investment expenses relating to the investment management of Vision Super’s assets, such as base and performance related fees paid to investment managers and advisers, management fees charged in investment vehicles, explicit transaction costs incurred by investment managers, asset consulting fees, bank fees, custodian fees and internal Vision Super costs related to the management of the fund’s assets. For further information about performance related fees, as well as investment related expenses that are not included in the investment fees, refer to applicable PDS.

Investment fees are taken into account in the calculation of the unit prices for the investment options and are therefore reflected in the returns allocated to your account through changes in the unit prices.

Pre-mixed optionsInvestment fees and costs (i)Single sectorInvestment fees and costs (i)
Growth0.61%Just shares0.35%
Balanced growth0.54%Australian equities0.21%
Sustainable balanced0.12%International equities0.44%
Balanced0.48%Innovation & Disruption0.55%
Conservative0.36%Diversified bonds0.08%
  Cash0.03%

(i) Investment fees and costs in respect of all investment options are an estimate based on the fees and costs incurred over the year ended 30 June 2020. These estimates reflect actual amounts for the year ended 30 June 2020 where available and some estimated components. The actual amount of investment fees and costs that you will incur in the current and subsequent financial year(s) depends on the investment option(s) you are invested in and actual investment fees and costs incurred by Vision Super from year to year in relation to the option(s).

How do we compare?

Example fees for a $50,000 Account based pension or Non-commutable account-based pension invested in the Balanced growth option


$490
Vision Super Saver fees
$718
Average super fees 1

 

1 - SuperRatings average fee for a $50,000 super account balance – SuperRatings Fundamentals Report July 2020

Other fees

Insurance fees

If you have insurance cover under Vision Super, insurance premiums apply and are deducted from your account. Please refer to our Vision Super Saver Insurance guide or if you are a Vison Personal member refer to the Vision Personal Insurance Guide for more information about insurance costs  

Advice fees

You can obtain personal financial advice which takes into account your objectives, financial situation and needs from a Vision Super Financial Planner (VSFP). VSFPs are employed by the Trustee of Vision Super. These staff members are authorised to give personal advice under an arrangement that the Trustee has with Industry Fund Services Pty Ltd (IFS) (AFSL no: 232514).

Advice limited to contributions and investments regarding your membership of Vision Super that is not subject to ongoing review is called ‘intra-fund’ advice and includes personal intra-fund advice. Intra fund advice is available at no extra cost to you as the cost of intra-fund advice is included in the Fund’s administration fees.

Advice fees apply on a fee for service (user pays) basis for all other personal financial advice provided by a VSFP in addition to the fees and costs shown in this Guide. Fees are only charged for a Statement of Advice that contains personal advice that is not intra-fund advice. Fees for personal advice relating solely to your interest in Vision Super are generally paid directly by you. However, if we are satisfied that the fee is solely for the provision of advice regarding your membership in Vision Super, it may be deducted from your account, with your written authorisation.

If you’re after a comprehensive financial plan, you can book an appointment with one of our financial planners.

Frequently asked questions

It depends how your details have been changed. The most common request is changing a surname due to marriage, which you can do with a certified copy of your marriage certificate, and a Vision Super “Change of Personal Details form” found here: view form

If you have changed your name another way, we recommend you contact us first on 1300 300 820 so we can outline what documents we need to change your details without issue.

If you want to change your address, you can do this by logging onto the secure member portal online, or calling our Member Services team on 1300 300 820.

You can check your balance 24/7 via Vision Online, our secure member secure site, or via the Vision Super app for mobile devices. You can also contact our Member Services on 1300 300 820 or by emailing us on [email protected]

Here’s how it works. You may be able to receive a tax-free contribution from the Government when you make a non-concessional (after-tax) contribution to your super account.  The maximum entitlement that can be received is $500 where your total income is $39,837 or less in the 2020/21 year. This reduces on a sliding scale and cuts out if your total income is above $54,837 in the 2020/21 year.

This is, of course, provided you satisfy work, income and age tests.

Please note that the income threshold test for the co-contribution is your total income, which is calculated as follows:

Total income (assessable income + reportable fringe benefits + reportable employer super contributions – allowable business deductions).

In very basic terms, ‘salary sacrificing’, or ‘salary packaging’ means using some of your before-tax salary to pay for something. In superannuation terms, it is usually an arrangement between you and your employer to contribute some of your before-tax salary into your superannuation account.

In the 2020/2021 financial year, the maximum that can be contributed as before-tax payments is $25,000, this includes your employer SG payments of 9.5%.

If you’re contributing by BPAY, it can take Vision Super up to two business days to receive your contribution, then up to three business days to process, although most are done the same day they are received. This will depend upon your financial institution’s processing times.

If you’re contributing by cheque, you will need to allow enough time for your chosen postage method to reach us. Once it has arrived, it can take up to five working days to process.

We can also process contributions by EFT, however, this may take up to three business days.

Best Doctors can help you if you are dealing with an illness, or a chronic or serious condition.

Through your insurance, you and your family get access to Best Doctors which connects you with a network of 50,000 leading medical specialists from around the world. It offers a second opinion when you need it most, to make sure you received the right diagnosis and are on the best treatment plan. You can use Best Doctors at anytime, anywhere, as often as you need for no extra cost, and it’s completely confidential.

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