Here is an example of the ongoing annual fees and costs for the MySuper Lifecycle Grow — Age 55 and under stage over a 1-year period.
If you are a Future Saver member, MySuper Lifecycle is where your super is invested if you don’t make a choice. It automatically tailors your investment mix to your age over time to help you retire with more. It’s where more than 80% of our members invest their money.
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| MySuper Lifecycle Grow - Age 55 and under | $50,000 superannuation balance | $150,000 superannuation balance | $250,000 superannuation balance | |
|---|---|---|---|---|
| Admin fees and costs | $52 + 0.15% p.a. of your super balance | $52 + $75 | $52 + $225 | $52 + $375 |
Plus Investment fees and costs |
0.59% p.a. of your super balance | $295 | $885 | $1,475 |
Plus Transaction costs |
0.07% p.a. of your super balance | $35 | $105 | $175 |
Equals Cost of product |
$457 | $1,267 | $2,077 |
The example above is illustrative only. More information on fees and costs can be found on our website in the Investment and Fees Handbook (for Future Saver members) or the Retirement Income PDS (for Retirement Transition and Retirement Income members).
Aware Super has competitive fees[F1] which can make a real difference to your super balance over time. In fact, our superannuation account admin fee is just $1 per week + 0.15% p.a. of your account balance (Admin fees are only one part of the total fee).
Unlike some retail funds, Aware Super does not have shareholders to pay which means we return any profits to members as better services, and helps us keep fees low.
Small differences in both investment performance and fees and costs can have a big impact on your long-term returns.
Chant West Super Fund Fee Survey 31 December 2024, High Growth [81-95% in growth assets] investment option index and $50,000 account balance. *Overall average is the average fee of funds measured in the survey. Aware Super's Future Saver High Growth fees is as published in the Aware Super Future Saver PDS (dated 1 Oct, 2024).
Superannuation fees cover the costs of managing and investing your super. This could include administration, investments and insurance.
The fees and costs you pay can have a substantial impact on your long-term returns. For example, total annual fees and costs of 2% of your account balance rather than 1% could reduce your final return by up to 20% over a 30-year period (ie, reduce it from $100,000 to $80,000).
Our Future Saver High Growth option is ranked in the top 10 for similar investments across super funds over 10 years. This is where your money is invested during the Grow phase of our MySuper Lifecycle[P1] product.
Our fees are very competitive[F1] and this can make a big difference to your super balance over time.
Member Online gives you online account access via the web or the Aware Super app. You can check your super balance and manage your account whether you’re sitting at home or out and about.
One way to compare superannuation products and investment options is to look at the cost of product. The cost of product gives a summary calculation about how ongoing annual fees and costs can affect your superannuation investment over a 1-year period. The cost of product amount assumes a constant balance throughout the year. In the table below, you'll find the cost of product for a $50,000, $150,000 and $250,000 super balance.
Note, the Cost of Product amount includes Administration fees and costs, Investment fees and costs and Transaction costs.
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| MySuper Lifecycle Stage | Cost of Product (on a $50,000 balance) |
Cost of Product (on a $150,000 balance) |
Cost of Product (on a $250,000 balance) |
|---|---|---|---|
| Grow | Age 55 and under | $457 | $1,267 | $2,077 |
| Manage | Age 56 | $452 | $1,252 | $2,052 |
| Manage | Age 57 | $442 | $1,222 | $2,002 |
| Manage | Age 58 | $437 | $1,207 | $1,977 |
| Manage | Age 59 | $432 | $1,192 | $1,952 |
| Manage | Age 60 | $422 | $1,162 | $1,902 |
| Manage | Age 61 | $417 | $1,147 | $1,877 |
| Manage | Age 62 | $412 | $1,132 | $1,852 |
| Manage | Age 63 | $407 | $1,117 | $1,827 |
| Manage | Age 64 | $402 | $1,102 | $1,802 |
| Enjoy | Age 65 and over | $397 | $1,087 | $1,777 |
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| Investment Option | Cost of Product (on a $50,000 balance) |
Cost of Product (on a $150,000 balance) |
Cost of Product (on a $250,000 balance) |
|---|---|---|---|
| High Growth | $457 | $1,267 | $2,077 |
| Balanced | $422 | $1,162 | $1,902 |
| Conservative Balanced | $397 | $1,087 | $1,777 |
| Conservative | $337 | $907 | $1,477 |
| Defensive | $262 | $682 | $1,102 |
| High Growth Socially Conscious | $332 | $892 | $1,452 |
| Balanced Socially Conscious | $322 | $862 | $1,402 |
| High Growth Indexed | $157 | $367 | $577 |
| Balanced Indexed | $157 | $367 | $577 |
| Australian Shares | $157 | $367 | $577 |
| International Shares | $157 | $367 | $577 |
| Property | $252 | $652 | $1,052 |
| Bonds | $167 | $397 | $627 |
| Cash | $147 | $337 | $527 |
| Term Deposit | $127 | $277 | $427 |
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| Investment Option | Cost of Product (on a $50,000 balance) |
Cost of Product (on a $150,000 balance) |
Cost of Product (on a $250,000 balance) |
|---|---|---|---|
| High Growth | $497 | $1,387 | $2,277 |
| Balanced | $462 | $1,282 | $2,102 |
| Conservative Balanced | $437 | $1,207 | $1,977 |
| Conservative | $377 |
$1,027 | $1,677 |
| Defensive | $302 | $802 | $1,302 |
| High Growth Socially Conscious | $372 | $1,012 | $1,652 |
| Balanced Socially Conscious | $362 | $982 | $1,602 |
| High Growth Indexed | $197 | $487 | $777 |
| Balanced Indexed | $197 | $487 | $777 |
| Australian Shares | $197 | $487 | $777 |
| International Shares | $197 | $487 | $777 |
| Property | $292 | $772 | $1,252 |
| Bonds | $207 | $517 | $827 |
| Cash | $187 | $457 | $727 |
| Term Deposit | $167 | $397 | $627 |
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| Investment Option | Cost of Product (on a $50,000 balance) |
Cost of Product (on a $150,000 balance) |
Cost of Product (on a $250,000 balance) |
|---|---|---|---|
| High Growth | $462 | $1,282 | $2,102 |
| Balanced | $442 | $1,222 | $2,002 |
| Conservative Balanced | $437 | $1,207 | $1,977 |
| Conservative | $377 | $1,027 | $1,677 |
| Defensive | $302 | $802 | $1,302 |
| Conservative Balanced Socially Conscious | $342 | $922 | $1,502 |
| Conservative Socially Conscious | $302 | $802 | $1,302 |
| Conservative Balanced Indexed | $197 | $487 | $777 |
| Conservative Indexed | $192 | $472 | $752 |
| Australian Shares | $197 | $487 | $777 |
| International Shares | $197 | $487 | $777 |
| Property | $292 | $772 | $1,252 |
| Bonds | $207 | $517 | $827 |
| Cash | $187 | $457 | $727 |
| Term Deposit | $167 | $397 | $627 |
The above tables show the Cost of Product for each investment option. The Cost of Product figures include administration fees and costs, investment fees and costs and transaction costs. Investment fees and costs and transaction costs are indicative only and based on historical fee and cost data as at 30 June 2024.
Performance fees, where applicable, are part of investment fees and costs and reflect a five-year average, or the average for the period since the option commenced, if that period is less than five years.
Past costs are not a reliable indicator of future costs. The actual amount you’ll pay in future years will depend on the administration fees and costs at the time, and for investment fees and costs and transaction costs, the fees and costs incurred by the trustee in managing the investment option(s).
For more information on administration fees and costs, investment fees and costs and transaction costs, refer to the Aware Super Investments and Fees Handbook and related Product Disclosure Statement (PDS).
Aware Super is an award-winning[A1] superannuation fund. We regularly receive awards and ratings from industry leading rating agencies. Many of our awards acknowledge the expertise of our investment team who manage your super with the goal delivering strong, long term returns.[P1]
We’ve received recognition from Canstar+ for ‘Outstanding Value Superannuation’ four years’ running. The Award is given to the providers whose products are the strongest overall performers in Canstar’s Star Ratings over the award period.
Future Saver super account - If you have a super account (also known as an accumulation account) you pay:
an account-keeping fee of $52 per year, plus
an administration fee of 0.15% of your account balance each year, up to a maximum of $62.50 per month ($750 per year).
Retirement Income and Retirement Transition accounts - If you have a Retirement Income or Retirement Transition account, you pay:
an account-keeping fee of $52 per year, plus
an administration fee of 0.23% of your account balance each year, up to a maximum of $125 per month ($1,500 per year).
Aware Super charges an administration fee to cover the costs of administering and operating the fund. This may include investment in strategic projects for the benefit of members.
Investment fees and costs are the costs paid for managing the fund’s investments for each option. They include an investment base fee and, where applicable, performance fees.
We pay these fees and costs from the fund or they are deducted from underlying investment vehicles before we calculate an investment option’s unit price; they’re not deducted directly from your account.
