Update to Member Direct

investment option fees and costs

15 February 2023

AustralianSuper regularly reviews the products and services we

offer, including how much they cost members, to ensure they are
competitive, equitable and sustainable, and comply with all regulations.
Following a recent review, we’re changing and simplifying our fee structure for the Member Direct investment option
from 1 April 2023.

What’s changing?
We’re removing the Cash account fee charged as a percentage of the balance held in the Cash account and introducing
a new flat dollar Portfolio administration fee for the Cash Account option.
We’re also reducing the Portfolio administration fee on the Term Deposits option and the Shares, ETFs and LICs option,
as well as reducing Brokerage fees for all trade amounts.

Investment fees and costs

The tables below compare the current and new (from 1 April 2023) Investment fees and costs for our Member
Direct investment option:

Option Current

(Assets you can invest in using this option) Cash account fee Portfolio administration fee

Cash Account (Cash only) Nil

Term Deposits (Cash and Term Deposits) 0.12% pa of your $150 pa
Cash account balance
Shares, ETFs & LICs (Cash and Term Deposits
$395 pa
and ASX 300 shares, ETFs & LICs)

Option From 1 April 2023

(Assets you can invest in using this option) Cash account fee Portfolio administration fee

Cash Account (Cash only) $30 pa

Term Deposits (Cash and Term Deposits) Nil – no longer $120 pa
charged
Shares, ETFs & LICs (Cash and Term Deposits
$180 pa
and ASX 300 shares, ETFs & LICs)

Your Portfolio administration fee is determined by the option you select and not by the type of assets you hold.
If you no longer hold the core asset type, you can reduce this fee by selecting a different option at any time via
the platform.
There will be no change to how and when fees are paid. The Portfolio administration fee will continue to be
deducted directly from your Member Direct Cash account in arrears on the first business day of the following
month based on the number of days in the month.

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 Brokerage fees
The tables below compare the current and new (from 1 April 2023) Brokerage fees for our Member Direct
investment option:

Current From 1 April 2023

Brokerage fee Brokerage fee
Trade bracket amount Trade amount
(including GST less RITC) (including GST less RITC)
$0 to $5,000 $15.38 $0 to $13,000 $13
$5,001 to $10,000 0.3075% $13,001+ 0.10%
$10,001 to $30,000 0.2050% You will be charged either a flat brokerage fee of $13 or 0.10% of the
trade amount, whichever is greater.
$30,001 to $50,000 0.1640%
$50,001+ 0.1230%

Different Brokerage fee rates apply starting with a flat fee for the first
$5,000 of each trade. Scaled cumulative Brokerage fee rates apply to
amounts above this.

There will be no change to how and when fees are paid. Brokerage fees will continue to be deducted directly
from your Member Direct Cash account when your Share, ETF and LIC trades are settled.
The Fund will continue to claim a Reduced Input Tax Credit (RITC) of 75% on the GST component of any
Brokerage fees and will pass the benefit on to you in the form of a lower Brokerage fee deducted from your
account (reflected in the amounts shown in the above tables).

How you’re impacted

The impact of the fee changes by option are set out below. What you need to do
You don’t need to do anything if you’re happy
Cash Account option with the value you’re getting from your
The current Cash account fee of 0.12% pa of your Cash Member Direct investment option.
account balance is being removed and a new Portfolio
If you wish to change the option you have
administration fee of $30 pa on the Cash Account option
selected, or you wish to cancel your Member
is being introduced. This means that if you are currently
Direct account, simply log into Member Direct
in the Cash Account option and you hold a balance of less
and make the change in your account settings
than $25,000, your fees will increase by up to $30 pa.
before 1 April 2023.
However, if you are currently in the Cash Account option
and you hold a balance of $25,000 or more, then your
fees will either stay the same (balance of $25,000) or
decrease from 1 April 2023 (balances above $25,000) as a
result of these changes.
If you are in the Cash Account option, we recommend that
you refer to the relevant Product Disclosure Statement
and the Member Direct investment option guide, review
your own situation, including the impact of fees on your
investment returns, and decide what’s best for you.

Term Deposits option and Shares, ETFs

and LICs option
If you are currently in the Term Deposits option or the
Shares, ETFs and LICs option, then your overall fees for
the Member Direct investment option will decrease
from 1 April 2023 as a result of these changes.

We’re here to help

If you need help or have any questions, please call us on 1300 300 273 from 8am to 8pm AEDT weekdays,
or read the FAQs at australiansuper.com/MemberDirectFeeChange
SEN LT1469 02/23

This document was prepared in February 2023. This information may be general financial advice which doesn’t take into account your personal
objectives, financial situation or needs. Before making a decision about AustralianSuper, you should think about your financial requirements and
refer to the relevant Product Disclosure Statement available at australiansuper.com/pds or by calling 1300 300 273. A Target Market Determination
(TMD) is a document that outlines the target market a product has been designed for. Find the TMDs at australiansuper.com/tmd
AustralianSuper Pty Ltd, ABN 94 006 457 987, AFSL 233788, Trustee of AustralianSuper ABN 65 714 394 898.
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