What types of fees do super funds charge?
Australian super funds charge a range of fees for different purposes generally for 30 days period. The most usual types of superannuation fees include.
Fees chargeable when anyone make a transaction such as withdrawing money or contributing to the fund.
Fees for fiscal advice given about your investments and super.
The cost of insurance coverage like life insurance or total and permanent disability cover
Fees to cover the cost of managing and operating your super fund membership.
Fees for investment management which can differ due to investment and fund strategy.
Fees for changing your investment mix within fund.
Admin fees are charged every month that you are member of fund.The fees are deducted from your super account at any time you fulfil the criteria.
Can you manage your own super fund?
Self managed superannuation fund are most famous superannuation in Australia. It is your personal fund that gives you complete authority how your money is invested.