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 pa (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 ($78 pa)

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

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

Currently the reserving margin is nil.

Investment fees and costs

Investment fees and costs include 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, 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 fees refer to applicable PDS.

Investment fees and costs 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.

 

Premixed optionsInvestment fees and costs pa (i)Single sector optionsInvestment fees and costs pa (i)
Growth0.61%Just shares0.35%
Balanced growth0.54%Australian equities0.21%
Sustainable balanced0.12%International equities0.44%
Balanced0.48%Innovation and disruption0.55%
Conservative0.36%Infrastructure0.69%
  Property0.49%
  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).

Transaction costs

Transaction costs include explicit transaction costs such as brokerage, settlement costs or stamp duty, as well as buy sell spreads charged by our investment managers or in underlying investment vehicles.

Where buy-sell spreads are applied by Vision Super, transaction costs incurred by the Fund may be wholly or partly recovered through the buy-sell spread on member transactions. Currently, buy-sell spreads do not apply. However, buy-sell spreads may be applied in future based on the ranges set out under “Buy and sell spreads below”.

Any Transaction costs that are not recovered though a Vision Super buy-sell spread are deducted from the underlying assets, and therefore deducted from the unit prices for each Investment option.

Premixed optionsTransaction cost pa (i)Single sector optionsTransaction cost pa (i)
Growth0.10%Just shares0.10%
Balanced growth0.09%Australian equities0.06%
Sustainable balanced0.03%International equities0.13%
Balanced0.08%Innovation and disruption0.02%
Conservative0.05%Infrastructure0.04%
  Property0.20%
  Diversified bonds0.00%
  Cash0.00%

(i) Transaction costs in respect of all investment options other than the Property option and Infrastructure option are an estimate based on the explicit transaction costs incurred by the Fund and underlying investment vehicles over the year ended 30 June 2020. These estimates are based on information provided by our investment managers and custodian and reflect actual amounts for the year ended 30 June 2020 where available and some estimated components. Transaction costs for the Property option and Infrastructure option are an estimate of anticipated transaction costs for the 2020/2021 financial year as at the date of preparation of this document. The actual amount of transaction costs that you will incur in the current and subsequent financial year(s) depends on the investment option(s) you are invested in; the frequency, size and type of member transactions relating to your account and actual transaction 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.
* Other fees and costs may apply.

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 pa.

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 two components:

  • An asset based fee of 0.35% of your account balance capped at $1,050 pa, and
  • If charged, a reserving margin ranging from 0.00% to 0.02% pa which is reflected in the daily unit price.

Currently the reserving margin is nil.

Investment fees and costs

Investment fees and costs include 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, 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 fees refer to applicable PDS.

Investment fees and costs 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.

 

Premixed optionsInvestment fees and costs pa (i)Single sector optionsInvestment fees and costs pa (i)
Growth0.61%Just shares0.35%
Balanced growth0.54%Australian equities0.21%
Sustainable balanced0.12%International equities0.44%
Balanced0.48%Innovation and 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).

Transaction costs 

Transaction costs include explicit transaction costs such as brokerage, settlement costs or stamp duty, as well as buy sell spreads charged by our investment managers or in underlying investment vehicles.

Premixed optionsTransaction cost pa (i)Single sector optionsTransaction cost pa (i)
Growth0.10%Just shares0.10%
Balanced growth0.09%Australian equities0.06%
Sustainable balanced0.03%International equities0.13%
Balanced0.08%Innovation and disruption0.02%
Conservative0.05%Diversified bonds0.00%
  Cash0.00%

(i)Where buy-sell spreads are applied by Vision Super, transaction costs incurred by the Fund may be wholly or partly recovered through the buy-sell spread on member transactions. Currently, buy-sell spreads do not apply. However, buy-sell spreads may be applied in future based on the ranges set out under “Buy and sell spreads” below.

Any Transaction costs that are not recovered though any Vision Super buy-sell spread are deducted from the underlying assets, and therefore deducted from the unit prices for each Investment option.

Transaction costs in respect of all investment options are an estimate based on the explicit transaction costs incurred by the Fund and underlying investment vehicles over the year ended 30 June 2020. These estimates are based on information provided by our investment managers and custodian and reflect actual amounts for the year ended 30 June 2020 where available and some estimated components.

The actual amount of transaction costs that you will incur in the current and subsequent financial year(s) depends on the investment option(s) you are invested in; the frequency, size and type of member transactions relating to your account and actual transaction costs incurred by the 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 and costs

Buy and sell spreads

The buy-sell spread (where applicable) is the difference between the buy price and sell price of units in each investment option. As noted above, buy-sell spreads for all investment options are currently nil. This is based on the current level and pattern of member transactions (eg investment switching requests) and the current level of transaction costs incurred by the Fund when Fund assets are purchased or sold.

If circumstances change, Vision Super may need to charge buysell spreads to ensure it is able to more appropriately recover the transaction costs resulting from member transactions from the members engaged in those transactions. 

Buy-sell spreads may change within this range without prior notice. Buy-sell spreads are reviewed on a regular basis and are set out in the table below.

OptionCurrent buy-sell spreadBuy-sell spread range
Balanced growth0.00%0.00% to 0.12%
Conservative0.00%0.00% to 0.08%
Balanced0.00%0.00% to 0.11%
Sustainable balanced
0.00%0.00% to 0.09%
Growth0.00%0.00% to 0.13%
Just shares
0.00%0.00% to 0.17%
Australian equities
0.00%0.00% to 0.19%
International equities
0.00%0.00% to 0.15%
Innovation and disruption
0.00%0.00% to 0.15%
Property0.00%0.00% to 0.00%
Infrastructure0.00%0.00% to 0.00%
Diversified bonds
0.00%0.00% to 0.04%
Cash0.00%0.00% to 0.03%

Reserving margins

The reserving margin is paid into a general reserve. Vision Super is able to draw on this reserve as permitted by relevant law and the Fund’s reserving strategies. The general reserve is not used as an investment fluctuation reserve for smoothing investment returns.

If circumstances change, Vision Super may need to charge a reserving margin. The following table sets out the possible range of the reserving margins. Reserving margins may change within this range without prior notice. 

OptionReserving margins paReserving margin range pa
Balanced growth0.00%0.00% to 0.02%
Conservative0.00%0.00% to 0.02%
Balanced0.00%0.00% to 0.02%
Sustainable balanced
0.00%0.00% to 0.02%
Growth0.00%0.00% to 0.02%
Just shares
0.00%0.00% to 0.02%
Australian equities
0.00%0.00% to 0.02%
International equities
0.00%0.00% to 0.02%
Innovation and disruption
0.00%0.00% to 0.02%
Infrastructure0.00%0.00% to 0.02%
Property0.00%0.00% to 0.02%
Diversified bonds
0.00%0.00% to 0.01%
Cash0.00%0.00% to 0.01%

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.

Already a Vision Super member?

The great news is you can now open your pension account online through the secure site.

Not a Vision Super member?

You’ll just need to open a Vision Personal account first and then you can transfer across to a Vision Super pension.