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Rollover and Superannuation Fund: Fees and commissions - Dec 2018

In January 2019, we introduced some changes to how we charge fees. These changes may reduce the fees you pay and give you more options over how you pay for advice.

EXIT AND CONTRIBUTION FEES REMOVED

From January 2019, exit and contribution fees will not be charged to members in the Rollover and Superannuation Fund. This means that:

  • we will no longer deduct contribution fees (previously up to 4%) from any amounts contributed to your account; and
  • we will no longer charge exit fees (previously up to 3% for members in the nil entry fee options and nil for other entry fee options) from any amounts withdrawn from your account.  

FEE & INSURANCE COMMISSION REBATE

  • Where a financial adviser is linked to your account, we may pay commissions to your adviser from the fees that we receive. From January 2019, you can speak to your adviser or contact us directly to request a rebate.

     

    Note: Before changing any arrangements, we suggest you contact your adviser to discuss your future advice needs and arrangements for those services.

     

    If you appointed a new adviser on or after 11 June 2013, you will receive a fee rebate from January 2019. This rebate will reduce the total fees and costs that apply to your investment. If you receive a rebate, this transaction will be referred to as a ‘Fee rebate’ in your future statements. The rebate will reduce the total fees and costs that apply to your investment.

     

    Rebates are calculated and paid monthly. If you close your account, your withdrawal amount will only include a rebate calculated to the end of the previous month. The rebate will be paid to your most conservative investment option (as determined by us), unless you nominate another investment option.

     

    If you have insurance cover that commenced before 1 July 2014, we may pay commissions to your adviser from the total insurance premiums you currently pay. From January 2019 you can request a rebate for any commissions paid to your adviser. You can speak to your adviser or contact us directly to request a rebate.

     

     

    If you receive a rebate, the total insurance premiums you currently pay may be reduced by up to 22%. If your insurance cover commenced after 1 July 2014, your premiums already reflect this change.

     

     

    Note: Before changing any arrangements, we suggest you contact your adviser to discuss your future advice needs and arrangements for those services.

  • From January 2019, we are introducing a fee rebate for customers with no financial adviser linked to their account. The rebate will be up to 0.8% for nil entry fee options and up to 0.4% for entry fee options.

     

    Rebates are calculated and paid monthly. If you close your account, your withdrawal amount will only include a rebate calculated to the end of the previous month. The rebate will be paid to your most conservative investment option (as determined by us), unless you nominate another investment option. If you receive a rebate, this transaction will be referred to as a ‘Fee rebate’ on your future statements. This rebate will reduce the total fees and costs that apply to your investment.

     

    If you also have insurance cover, the total insurance premiums you currently pay will be reduced by up to 22%. This will also apply from January 2019.

We're here to help

Please refer to the flyer for more information.

 

To find out how these changes may affect you, call us on 13 13 36, or speak to your financial adviser.

Disclaimer
Colonial First State Investments Limited ABN 98 002 348 352, AFS Licence 232468 (Colonial First State) is the issuer of super, pension and investment products. This document may include general advice but does not take into account your individual objectives, financial situation or needs. You should read the relevant Product Disclosure Statement (PDS) carefully and assess whether the information is appropriate for you and consider talking to a financial adviser before making an investment decision. A PDS for Colonial First State’s products are available at colonialfirststate.com.au or by calling us on 13 13 36.