Administration fees you pay are reducing
23 June 2022
5
min read
From 1 July 2022 members will benefit from a decrease in the ongoing administration fees charged to a member’s account.
Australian Retirement Trust is the super fund formed through the merger of QSuper and Sunsuper.
We’re one of Australia’s largest super funds and proud to take care of over $200 billion in retirement savings for more than two million members.
We’re committed to returning profits to members as lower fees and better services, as the less you pay in fees on your super account the more you could have to live your best retirement.
Administration fee reduction
We let members know in January that QSuper and Sunsuper had committed to reducing the administration fees that members pay once the merger was completed.
For QSuper account holders, this means that from 1 July 2022, the administration fees that you pay from any of your QSuper Accumulation account(s) and Income account(s), and those deducted from the QSuper Lifetime Pension pool, will be reduced from 0.16% to 0.15% per annum. This is the amount that is charged to a member’s account.
Also, the administration fee cap will be reduced from $900 to $875 per annum, so that any administration fees you pay on your QSuper Accumulation and/or Income account(s) over the cap of $875 in a financial year (that’s the combined figure for any of these accounts that you may hold) will be rebated back to you in July of the next financial year, as long you still have a QSuper Accumulation and/or Income account at the time of the refund.
This rebate will first apply in July 2023.
It’s also important to know that this annual administration fee cap only applies to the portion of the administration fees charged to member’s account.
A fund that works for members not shareholders
As a fund that works for members, not shareholders, we work in members’ best interests and are committed to returning profits to them as lower fees and better services.
Whether you are starting out your working life, already retired, or somewhere in between, we’ll guide you to help ensure you feel secure, confident and protected.