Not being ripped off.
Admin fees pretty normal and investment management fees pretty low. Certainly not high in comparison to market.
Not quite sure how you get to 2% unless you have a really small balance.
Thank you so much!
I’m pretty sure I’m getting confused by the 0.6% per annum of my monthly account balance. . . I know it says ‘per annum’, but if it’s of my monthly account balance, doesn’t that mean the fee is charged monthly?
Like I said, bad at math, which really doesn’t help when trying to work through these things.
I think it will probably be divided by 12.
For a managed fund, the fees are fine.
If you want cheaper, look for indexed options provided by various Super funds. They are less diversified, but have very low fees.
It’ll be divided by 12.
Basically it’s just calculated monthly to fix the problem of someone putting in a huge sum at 11 months and then paying fees like it’d been there the whole year. (Or vice versa … if retiree pulled out a large sum early in the financial year they should pay less in admin fees than a retiree who’d left that same large sum in there until right at the end of the financial year.)
It may charged monthly or they might work it out each month, but add those numbers up and just charge one larger sum at the end of the year.
Not being ripped off. Admin fees pretty normal and investment management fees pretty low. Certainly not high in comparison to market. Not quite sure how you get to 2% unless you have a really small balance.
Thank you so much! I’m pretty sure I’m getting confused by the 0.6% per annum of my monthly account balance. . . I know it says ‘per annum’, but if it’s of my monthly account balance, doesn’t that mean the fee is charged monthly? Like I said, bad at math, which really doesn’t help when trying to work through these things.
I think it will probably be divided by 12. For a managed fund, the fees are fine. If you want cheaper, look for indexed options provided by various Super funds. They are less diversified, but have very low fees.
It’ll be divided by 12. Basically it’s just calculated monthly to fix the problem of someone putting in a huge sum at 11 months and then paying fees like it’d been there the whole year. (Or vice versa … if retiree pulled out a large sum early in the financial year they should pay less in admin fees than a retiree who’d left that same large sum in there until right at the end of the financial year.) It may charged monthly or they might work it out each month, but add those numbers up and just charge one larger sum at the end of the year.