The fees and costs you pay can make a significant difference to your super. As an industry super fund, we’re run only to benefit our members — we keep our costs low so you can get the most from your super.

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Summary of fees and costs

This section shows fees and other costs that you may be charged. These fees and costs may be deducted from your money, from the returns on your investment or from the assets of NGS Super as a whole.

Other fees — such as advice fees for personal advice and insurance premiums — may also be charged, but these will depend on the nature of the activity, advice or insurance chosen by you.

Entry fees and exit fees cannot be charged.

Ongoing annual fees and costs*

Member activity-related fees and costs

Note: the trustee of NGS Super has the right to increase fees at any time. Increases may be due to changes in economic conditions or government regulations, increased costs or a substantial reduction in the size of the fund. The trustee will give 30 days’ notice of any increases to fees deducted directly from your account. For further detail on our fees and costs, please read our Fees, costs and tax guide.

Investment fees and costs and transaction costs

Investment fees and costs

Transaction costs

What it could look like for you

Accumulation account example — Diversified (MySuper) option

Transition to retirement account example — Diversified option

Income account example — Diversified option

NGS Self-Managed Direct Investment Option (DIO)

As well as the administration fee applicable to all NGS Super accounts, members who invest in the NGS Self-Managed DIO are subject to the following fees:

Self-Managed DIO fees

Cost of product for one year

The cost of product calculation is a summary of how ongoing annual fees and costs can affect your super investment over a 1-year period. You can view the calculated figure for each of our super products and individual investment options. The cost of product is calculated in the manner shown in the examples of annual fees and costs (further above).

The calculation assumes a balance of $50,000 at the beginning of the year. Additional fees such as a buy-sell spread may apply — refer to the Summary of fees and costs for more detail.

You should use these figure to help compare superannuation products and investment options.

Cost of product for each investment option

Performance fees

Some of our investment managers may be entitled to receive performance fees (in addition to base fees) if they generate strong investment returns above an agreed benchmark. Where applicable, performance fees are paid on the percentage of the performance above the agreed benchmark, and will result in higher investment fees and costs.

Performance fees are included in the investment fees and costs (see above), where applicable.

In summary, government regulations require that we disclose performance fees calculated on the basis of accrued performance fees averaged over the previous 5 financial years.

The average performance fees are shown in the tables below. The amount of performance fees paid by us in each year will change depending on the level of performance the relevant managers generate. The actual amount of performance fees that you will incur in the current and subsequent financial year(s) depends on the investment option(s) you are invested in and the amount of performance fees accrued in relation to the investment option(s) from year to year.

Performance fees for each investment option

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Fees shown include GST (unless stated otherwise) and stamp duty if applicable.

In order to meet our regulatory requirements under RG97.414 we are required to provide the following information:
The Fund reports fees and costs to assist members and potential members to compare products. These numbers must be calculated and reported in alignment with ASIC’s Regulatory Guide 97: Disclosing fees and costs in PDSs and periodic statements (September 2020).
 In compliance with that guide, the fund has documented procedures for making reasonable estimates. Where reasonable estimates are used, the fund has taken reasonable steps to obtain what we believe is the best estimate of the relevant amount of fees and costs. Some of the information that we may use when making reasonable estimates of fees and costs include:
 - the use of year-to-date costs for a particular investment and averaging of those costs where current information is unavailable and it is reasonable to use an average;
 - the use of reasonable estimates of funds under management for particular asset classes within a product. One way these estimates are used is for apportioning flat-dollar costs equitably over time;
 - we use estimates derived from similar investments where data is unavailable or has not yet been created (which can be the case for costs relating to new investments or investment transactions which are about to occur).
 - where there is uncertainty around the full year costs relating to administration, a reasonable estimate is made based upon budgeted income and expenditure factoring actual experience for the period to date. 

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