BUSSQ Fees and Costs

BUSSQ is a super fund that focuses on having competitive fees and costs.
The less you pay in fees now, means you'll have more when you retire.

Fees and costs summary

This section shows the fees and other costs that you may be charged.

These fees and other costs may be deducted from your money, from the returns on your investment or from the assets of the superannuation entity as a whole. Other fees, such as activity fees, advice fees for personal advice and insurance fees, may also be charged, but these will depend on the nature of the activity, advice or insurance chosen by you. Entry and exit fees cannot be charged.

Ongoing annual fees and costs¹

MySuper and Premium Choice products

Type of fee or cost	Amount	How and when paid
Administration fees and costs	$1.75 per week	The dollar-based weekly administration fee of $1.75 is deducted from your account monthly.
	Plus 0.20% p.a. of your account balance	The percentage-based administration fee of 0.20% p.a. is deducted daily from the investment option before BUSSQ declares a unit price, capped at $1,000 p.a.
	0.00% p.a.²	Administration costs paid from reserves that are not otherwise charged as administration fees. These costs are not directly charged to your account but have reduced the General Reserve balance held by the Fund to cover future administration costs.
Investment fees and costs²	Varies depending on your chosen investment option(s) and ranges from 0.08% to 0.85%. See 'Investment fees and costs' section below for more information.	Deducted daily from the investment option before BUSSQ declares a unit price.
Transaction costs	Varies depending on your chosen investment option(s) and ranges from 0.04% to 0.21%. See 'Transaction costs' section below for more information.	Deducted daily from the investment option before BUSSQ declares a unit price.

_{1. If your account balance for a product offered by BUSSQ is less than $6,000 at the end of the financial year (30 June), certain fees and costs charged to you in relation to administration and investment are capped at 3% of your account balance. Any amount charged in excess of that cap must be refunded.

2. These percentages are an estimate based on the costs incurred for the 12 months ending 30 June 2023. The investment fees and costs include an amount of up to 0.18% for performance fees and the calculation basis for this amount is set out under the 'Additional explanation of fees and costs' section in the Super Handbook.}

TTR and Income account products

Type of fee or cost	Amount	How and when paid
Administration fees and costs	0.20% p.a. of your account balance.	The percentage-based administration fee of 0.20% p.a. is deducted daily from the investment option before BUSSQ declares a unit price, capped at $1,000 p.a.
Investment fees and costs²	Varies depending on your chosen investment option(s) and ranges from 0.08% to 0.85%. See 'Investment fees and costs' section below for more information.	Deducted daily from the investment option before BUSSQ declares a unit price.
Transaction costs	Varies depending on your chosen investment option(s) and ranges from 0.04% to 0.21%. See 'Transaction costs' section below for more information.	Deducted daily from the investment option before BUSSQ declares a unit price.

Member activity related fees and costs

Type of fee or cost	Amount	How and when paid
Buy-sell spread	Nil	Not applicable
Switching fee	Nil	Not applicable
Other fees and costs	Refer to the 'Additional explanation of fees and costs' section in the Income account PDS or Super Handbook (MySuper and Premium Choice products).

Investment fees and costs

Investment fees and costs are fees and costs that relate to the investment of the assets of a superannuation entity and includes:
‍
(a) fees in payment for the exercise of care and expertise in the investment of those assets (including performance fees); and
‍
(b) costs incurred by the trustee of the entity that:
(i) relate to the investment of assets of the entity; and
(ii) are not otherwise charged as administration fees and costs, a buy-sell spread, a switching fee, an activity fee, an advice fee or an insurance fee.

Investment fees and costs relate to the management of assets in each investment option. BUSSQ estimates these costs for each new financial year based on the actual costs for the prior financial year and will be shown in the Super Handbook (MySuper and Premium Choice products) and Income account PDS. The costs may include payment of a performance fee, which is explained in the Investment performance fees section below.

MySuper and Premium Choice products

Investment option	Investment fees and costs p.a*
Balanced Growth	0.57%
Defensive	0.44%
High Growth	0.57%
Cash	0.08%
Australian Shares	0.33%
Australian (Small Companies) Shares	0.44%
International Shares	0.57%
International (Emerging Markets) Shares	0.85%

_{*For more information refer to the ‘Additional explanation of fees and costs’ section in the Super Handbook.}

TTR and Income account products

Investment option	Investment fees and costs p.a*
Balanced Growth (TTR account)	0.57%
Balanced Growth (Income account)	0.52%
Defensive (TTR account)	0.44%
Defensive (Income account)	0.42%
High Growth (TTR account)	0.57%
High Growth (Income account)	0.54%
Cash	0.08%
Australian Shares	0.33%
Australian (Small Companies) Shares	0.44%
International Shares	0.57%
International (Emerging Markets) Shares	0.85%

_{*For more information refer to the ‘Additional explanation of fees and costs’ section in the Income account PDS.}

Transaction costs

Transaction costs are costs associated with the sale and purchase of assets of the superannuation entity other than costs that are recovered by the superannuation entity charging buy-sell spreads.

MySuper and Premium Choice products

Investment option	Transaction costs p.a
Balanced Growth	0.17%
Defensive	0.14%
High Growth	0.17%
Cash	0.04%
Australian Shares	0.15%
Australian (Small Companies) Shares	0.13%
International Shares	0.13%
International (Emerging Markets) Shares	0.21%

TTR and Income account products

Investment option	Transaction costs p.a
Balanced Growth	0.17%
Defensive	0.14%
High Growth	0.17%
Cash	0.04%
Australian Shares	0.15%
Australian (Small Companies) Shares	0.13%
International Shares	0.13%
International (Emerging Markets) Shares	0.21%

Examples of annual fees and costs

The below tables give an example of how the ongoing annual fees and costs can affect your account over a one year period. You should use these tables to compare the relevant product with others.

MySuper and Premium Choice - Balanced Growth options

EXAMPLE – MySuper and Premium Choice Balanced Growth options		Balance of $50,000
Administration fees and costs	$1.75 p.w. plus 0.20% p.a. of your account balance.	For every $50,000 you have in the superannuation product, you will be charged or have deducted from your investment $100 in administration fees and costs, plus $91 regardless of your balance.
PLUS Investment fees and costs	0.57% p.a. of your account balance.	And, you will be charged or have deducted from your investment $285 in investment fees and costs.
PLUS Transaction costs	0.17% p.a. of your account balance.	And, you will be charged or have deducted from your investment $85 in transaction costs.
EQUALS Cost of product		If your balance was $50,000, at the beginning of the year, then for that year you will be charged fees and costs of $561 for the superannuation product.

Note: Additional fees and costs may apply. These are explained in the 'Additional explanation of fees and costs' section in the Super Handbook. If you have insurance, the costs are explained in the Insurance Handbook.

TTR Income account - Balanced Growth option

EXAMPLE – Balanced Growth – Transition to Retirement Income account option		Balance of $50,000
Administration fees and costs	0.20% p.a. of your account balance.	For every $50,000 you have in the superannuation product, you will be charged or have deducted from your investment $100 in administration fees and cost.
PLUS Investment fees and costs	0.57% p.a. of your account balance.	And, you will be charged or have deducted from your investment $285 in investment fees and costs.
PLUS Transaction costs	0.17% p.a. of your account balance.	And, you will be charged or have deducted from your investment $85 in transaction costs.
EQUALS Cost of product		If your balance was $50,000, at the beginning of the year, then for that year you will be charged fees and costs of $470 for the superannuation product.

Note: Additional fees and costs may apply. These are explained in the 'Additional explanation of fees and costs' section in the Income account PDS.

Retirement Income account – Balanced Growth option

EXAMPLE – Balanced Growth – Income account option		Balance of $50,000
Administration fees and costs	0.20% p.a. of your account balance.	For every $50,000 you have in the superannuation product, you will be charged or have deducted from your investment $100 in administration fees and costs.
PLUS Investment fees and costs	0.52% p.a. of your account balance.	And, you will be charged or have deducted from your investment $260 in investment fees and costs.
PLUS Transaction costs	0.17% p.a. of your account balance.	And, you will be charged or have deducted from your investment $85 in transaction costs.
EQUALS Cost of product		If your balance was $50,000, at the beginning of the year, then for that year you will be charged fees and costs of $445 for the superannuation product.

Note: Additional fees and costs may apply. These are explained in the 'Additional explanation of fees and costs' section in the Income account PDS.

Cost of product for one year

The cost of product gives a summary calculation about how ongoing annual fees and costs can affect your superannuation investment over a one year period for all superannuation products and investment options. It is calculated in the manner shown in the 'Example of annual fees and costs' (see above section). The cost of product information 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 'Fees and costs summary' (see above section) for the relevant superannuation product or investment option. You should use this figure to help compare superannuation products and investment options.

MySuper and Premium Choice products

Investment option	Cost of product
Balanced Growth (MySuper and Premium Choice)	$561
Defensive	$481
High Growth	$561
Cash	$251
Australian Shares	$431
Australian (Small Companies) Shares	$476
International Shares	$541
International (Emerging Markets) Shares	$721

TTR and Income account products

Investment option	Cost of product
Balanced Growth (TTR account)	$470
Balanced Growth (Income account)	$445
Defensive (TTR account)	$390
Defensive (Income account)	$380
High Growth (TTR account)	$470
High Growth (Income account)	$450
Cash	$160
Australian Shares	$340
Australian (Small Companies) Shares	$385
International Shares	$450
International (Emerging Markets) Shares	$630

Investment performance fees

Some of BUSSQ's investment managers will be eligible to receive performance-based fees if they outperform a target return. A target return is set as a percentage in excess of an index or other suitable benchmark, above which a performance fee is payable.

Performance fees are calculated on an average of the previous five financial years. These fees will vary in the future depending upon factors including performance targets and investment results from underlying investment managers.

The performance fees in the following table are included in 'Investment fees and costs' section (see above section).

Performance fees for each product’s investment option

Investment option	Performance fee
Balanced Growth (MySuper, Premium Choice, TTR accounts)	0.04%
Balanced Growth (Income account)	0.03%
Defensive (MySuper, Premium Choice, TTR accounts)	0.03%
Defensive (Income account)	0.03%
High Growth (MySuper, Premium Choice, TTR accounts)	0.03%
High Growth (Income account)	0.03%
Cash	0.00%
Australian Shares	0.03%
Australian (Small Companies) Shares	0.18%
International Shares	0.00%
International (Emerging Markets) Shares	0.09%