Fee discounts designed for young Australians

Protecting low super balances

One of the of the biggest financial problems young people face is low super balances being eroded by fees.
Lots of young people get their first job over the summer holidays. Most will just leave it up to their boss to choose a super fund for them.
At the end of the holidays they might have a few hundred dollars in their super account. The super fund then charges them fees to manage their account, as well as other costs like life insurance. Because their balance is low, the fees and costs can quickly erode their super balance.
This can repeat with each summer job, especially if they open a new fund with every new job. Each summer a new account is opened, a small balance is deposited and the balance is eroded by fees.
It’s a problem experienced by too many young Australians.
Our solution is zero fees for balances under $1,000.

Transparent Fees

We believe in transparent fees. Our standard fees are for balances over $5,000 and are $78 and 0.99% p.a. Other fees and costs can apply – see Section 6 Fees and Costs in our PDS.
BalanceOur fees
Under $1,000
Completely fee free!
$1,000 - $4,999
50% discount to our flat dollar administration fee
$39 + 0.99% of the account balance *
$5,000 +
Full fees
$78 + 0.99% of the account balance *
* If your account balance at the end of the financial year is less than $6,000, the total combined amount of administration fees, investment fees and indirect costs that were charged to your account during the year (and not rebated) will be capped at 3% of your account balance, and any amount charged in excess of that amount will be refunded to your account.

Zero fees for balances under $1,000

We have no fees or charges for balances under $1,000. That includes zero fees for zero balances.
This means you can open a super account before you get your first job. You’ll be prepared and look organised on your first day.
We have a pre-filled superannuation nomination form, so you don’t have to fill in extra paperwork on your first day. It will save your employer from having to open a new account for you.

Discounted fees for balances under $5,000

We provide a 50% discount to our flat dollar administration fee for all members with a balance between $1,000 and $4,999.
So you pay $39 p.a. and 0.99% of your account balance.
Other fees and costs apply – see Section 6 Fees and Costs of our PDS.

Balances over $5,000

Balances over $5,000 are charged $78 and 0.99% p.a.
These are the main fees. Other fees and costs apply – see Section 6 Fees and Costs of our PDS.

No insurances protects your balance from being eroded by fees

One of the ways we protect your super balance is by not providing death and disability insurance. Premiums will not be deducted from your account balance, and you will not have insurance cover as part of your super.
Paying insurance premiums can lead to faster account erosion for people with low balances.
This has been acknowledged by a number of people including the previous Minister for Revenue and Financial Services, Kelly O'Dwyer MP, who made a speech about this issue of insurance premiums negatively impacting members with low super balances.
You should consider your personal circumstances as to whether Student Super is appropriate for you.