THIS SITE IS INTENDED FOR ADVISER USE ONLY

By clicking through to the Investments or Platforms site below you confirm that you are a licensed adviser operating under an Australian Financial Services License.

Rollover and Superannuation Fund: Important changes to fees and insurance premiums

In January 2019, we introduced some changes to fee and insurance premium arrangements in the Rollover & Superannuation Fund.

EXIT AND CONTRIBUTION FEES REMOVED

 

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

  • 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fees (previously up to 3% for members in nil entry fee options and nil for other entry fee options) from any amounts withdrawn from your account.

 

The following changes also apply for members with no financial adviser linked to their account:

 

 

FEE REBATE FOR MEMBERS WITH NO FINANCIAL ADVISER

 

From January 2019, if you do not have a financial adviser linked to your account, or if you remove your financial adviser from your account after this time, you will automatically receive a fee rebate to your account on future fees. The rebate will be up to 0.80% for nil entry fee options and up to 0.40% for entry fee options and reduces 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 receive a rebate, this transaction will be referred to as a ‘Fee rebate’ on your future statements.

 

 

INSURANCE COMMISSION REBATE FOR MEMBERS WITH NO FINANCIAL ADVISER

 

The following change applies if you have insurance cover through the fund that commenced before 1 July 2014. From January 2019, if you do not have a financial adviser linked to your account, or if you remove your financial adviser from your account after this time, you will receive an insurance commission rebate that reduces your future insurance premiums by up to 22%.

 

Please note: If you took out insurance through the fund after 1 July 2014, you already pay a reduced insurance premium.

 


ADVISER COMMISSION REBATES

 

Where a financial adviser is linked to your account, we may pay commissions to them from the fees that we receive and the total insurance premiums you pay. From January 2019, financial advisers have the ability to rebate some or all of the commissions they receive to you. Your financial adviser can confirm if you are able to receive any commission rebates.

 

Please note: If you opened your account before 11 June 2013 and have linked a new financial adviser to your account after this time, you will also receive a fee rebate 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.