As a member of SuperLife's superannuation scheme ("SLSS"), you pay SuperLife Limited’s administration fees. In addition, you pay the investment managers’ fees and the costs of the insurance benefits you choose.

Administration fees

There is a fixed dollar based administration fee and a percentage of assets fee. The fixed dollar based fee is made up of an overall fee and a savings fee, and a fee for each insurance benefit you have.

NB: Special fees may apply to some employer groups. 

The percentages of assets fee is 0.20% (20 cents in each $100) of the money in each SuperLife pool. This is the annual before-tax cost.

The administration fees cover SuperLife Limited’s costs of running SuperLife e.g. the printed material (like the member’s booklet), the costs of collecting your savings and premiums and sending them to the providers, maintaining the computer systems used to hold member data, keeping records, preparing SuperLife’s accounts and reporting to you.

The administration fees aren’t, under present law, subject to GST because they relate to the provision of financial services through a superannuation scheme. The annual administration fees are, under present law, deductible against SuperLife’s taxable investment income. If the tax status changed, the cost of any tax imposed would be passed on to members by adjusting the fees.

SuperLife Limited can change its administration fees by notifying the Trustee. The Trustee will then advise members. 

Compliance costs

The compliance costs of SuperLife such as audit, FMA fees may be deducted from the assets. Currently these fees are met by SuperLife Limited. SuperLife Limited's policy is to charge any increases to the current level of compliance costs to members. 

Trustee fees

The trustee costs are the actual trustee costs incurred. Currently there are nil.

Entry and exit fees

There are no entry fees or exit fees, charge for withdrawals or for switching between investment options. However, the Trustee reserves the right to charge:

• a benefit payment fee if you withdraw money from SuperLife;
• a switching fee if you move your savings from one pool to another.

Investment managers’ fees

SuperLife's superannuation scheme pays no investment manager fees directly. The indirect investment manager fees are paid in respect of any savings depending on the pool(s) that your savings go into and can change. At the publication date, the fees charged by the managers are set out in the table below.

1. The actual cost will vary based on the split between listed and unlisted investments. The current fee is 0.20%.
2. The actuat cost will vary based on the split of listed and unlisted investments. The current fee is 0.77%.  

See a printout of the current fees.  The costs can change from time to time as determined by the Trustee.

Brokerage

Each pool incurs the cost of buying and selling assets (e.g. brokerage) when investments are bought and sold along with bank fees.

Also a KiwiSaver member?

If you are also a member of SuperLife for KiwiSaver, check out the KiwiSaver fees.