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The fees and charges to your account will include:
|Type of fee||Amount||How and when paid|
Account keeping fee of $2.00 per week
0.19% of your account balance a year – up to a maximum of $1,000 a year2
|Deducted from your account at the end of each month or when you close your account.|
The investment fee varies for each investment option.
See section below ‘What it costs to manage your investment option’.
For standard Cbus investment options, it is deducted from the investment returns before the crediting rate is applied to your account.
For the Cbus Self Managed investment option, it is deducted directly from your transaction account.
1If your account balance for a product is less than $6,000 at the end of the financial year, the total combined amount of administration fees, investment fees and indirect costs charged to you is capped at 3% of your account balance. Any amount charged above this cap will be refunded to you.
2The percentage-based administration fee cap of $1,000 a year was introduced on 1 February 2020.
3Fees deducted from the crediting rate are estimates based on the actual fees from the 2019/20 financial year. The fees usually change from year to year and are different for each investment option. The actual fee will be determined at the end of the financial year and published in your 30 June statement.
|Investment option||Investment fees for 2020/21|
|Growth (Cbus mySuper)||0.56%|
|Type of fee||Amount|
|Indirect cost ratio||Nil|
As part of your Cbus membership, you have access to our team of financial advisers at no additional cost. Cbus Advice Services can provide you with advice over the phone about:
When you join Cbus Industry Super, most members qualify for our default level of Death and Total and Permanent Disablement (TPD) cover. The cost of insurance is paid direct from your super account and will depend on your age, occupation and the amount of cover you have. Visit our insurance page for more detailed information on the types of cover available.
As at February 2021. Based on an income of $80,000 and a starting super balance of $50,000 modelled by SuperRatings. Full assumptions available on SuperCalculator.