Fees and costs

Administration fees and costs are fees and costs that relate to the administration or operation of the superannuation entity and includes costs incurred by the trustee of the entity that:

1. relate to the administration or operation of the entity, and
2. are not otherwise charged as investment fees and costs, transaction costs, a buy-sell spread, a switching fee, an activity fee, an advice fee or an insurance fee.

Brighter Super

Regardless of how your super is invested or what kind of account you have, Brighter Super charges an administration fee of 0.18% p.a. plus 0.03% p.a.

The 0.03% p.a. is not deducted from your account balance/investment returns but is deducted from the Fund’s General Reserve.

Administration fee rebate

The administration fee of 0.18% is subject to a limit of $900 in a financial year. If the total of your eligible account balances at the end of the financial year exceeds $500,000, any administration fee above $900 will be rebated to your account in the following financial year. All your account balances are eligible except for the defined benefit portion of a Defined Benefit account. If you hold more than one Brighter Super account at the time the rebate is applied, it will be paid in direct proportion to the account balance at that time.

Optimiser

Depending on how your super is invested and what kind of account you have, Brighter Super charges an administration fee of:

• 0.18% p.a. plus 0.03% p.a. if you are invested in the MySuper option.
• 0.59% p.a. plus 0.03% p.a. if you are invested in an accumulation choice investment option.
• 0.50% p.a. plus 0.03% p.a. if you are invested in a pension investment option.
• 0.59% p.a. plus 0.03% p.a. if you are invested in a Transition to Retirement pension investment option.
• 0.00% p.a. plus 0.03% p.a. if you are invested in the cash investment option.

The 0.03% p.a. is not deducted from your account balance/investment returns but is deducted from the Fund’s General Reserve.

Please note if you are under an Optimiser Corporate Plan, special administration fees and costs apply to you, please refer to your relevant Optimiser Corporate Plan Summary.

Administration fee rebate

If you are invested in the MySuper option - the administration fee of 0.18% is subject to a limit of $900 in a financial year. If the total of your eligible account balances at the end of the financial year exceeds $500,000, any administration fee above $900 will be rebated to your account in the following financial year.

If you are not invested in the MySuper option - the administration fee of 0.59% is subject to a limit of $2,950 in a financial year. Any administration fee above $2,950 will be rebated to your account in the following financial year and applies to the total of your eligible account balances at the end of the financial year.

If you hold more than one Brighter Super account at the time the rebate is applied, it will be paid in direct proportion to the account balance at that time.

Investment fees and costs are fees and costs that relate to the investment of the assets of a superannuation entity and includes:

1. fees in payment for the exercise of care and expertise in the investment of those assets (including performance fees), and
2. costs incurred by the trustee of the entity that:
   1. relate to the investment of assets of the entity, and
   2. are not otherwise charged as administration fees and costs, a buy-sell spread, a switching fee, an activity fee, an advice fee or an insurance fee.

Investment fees and costs relate to the management of your super into different assets. These fees vary depending on how your super is invested:

Brighter Super

Optimiser

A fee is an insurance fee for a superannuation product if:

1. the fee relates directly to either or both of the following:
   1. insurance premiums paid by the trustee, or the trustees, of a superannuation entity in relation to a member or members of the entity,
   2. costs incurred by the trustee, or the trustees, of a superannuation entity in relation to the provision of insurance for a member or members of the entity, and
2. the fee does not relate to any part of a premium paid or cost incurred in relation to a life policy or a contract of insurance that relates to a benefit to the member that is based on the performance of an investment rather than the realisation of a risk, and
3. the premiums and costs to which the fee relates are not otherwise charged as administration fees and costs, investment fees and costs, transaction costs, a switching fee, an activity fee or an advice fee.

These costs (or ‘premiums’) are to cover any insurance cover you have with us. These fees are deducted from your account each month. For more information about our insurance offering, please refer to the relevant Insurance guide.

If you’re a member, you can login to your account to view your insurance cover and monthly premium.

Performance fees are payable when investment returns exceed an investment manager’s benchmark and form part of the investment fee. Generally, these fees are calculated as a percentage of the investment returns that exceed an agreed level of return. For some investments, if the investment returns are below each manager’s benchmark, no performance fee is payable until the underperformance has been made up.

The performance fees have been estimated by taking the average of the last five financial years. The actual amount you will be charged in each financial year will depend on the actual fees and costs incurred by the Trustee in managing the investment option/s for that financial year.

Performance fees are included in the investment fees and costs for each investment option – they are not charged separately.

The below table outlines the performance fee for each investment option and are included in the investment fees and costs shown above.

Brighter Super

Optimiser

Administration and Investment fees cover the actual costs of administration and investment management paid out of Brighter Super and, as such, may vary from year to year. The actual investment fees deducted from investment earnings each financial year are reported to you in the Annual Report to members.

Before the start of each financial year Brighter Super estimates the Investment fees for the year ahead and these estimates only change where necessary to ensure costs are covered.

Brighter Super reserves the right to make changes to the fees and costs charged without your prior consent. If a change results in an increase in the fees and costs charged, you will be notified.

The cost of providing general advice is included in the Administration fees charged to Brighter Super members.

Financial advice fee

Brighter Super does not charge for general or single issue personal advice provided over the phone.

For broader or more complex superannuation advice, fees will apply. The fees will vary depending on the type and complexity of personal advice required and will be confirmed with you during your obligation free appointment.

The fee charged for advice can potentially be deducted from your Brighter Super account. The fees will be explained to you in detail.

For more detail on our financial advice services, please refer to our Financial Services Guide.

Transaction costs are costs associated with the sale and purchase of assets of the superannuation entity other than costs that are recovered by the superannuation entity charging buy-sell spreads.

Brighter Super

Optimiser