Lower fees, means more money in your super
Low fees mean more value for you, more confidence about your financial future and more savings to rely on when you stop working.
In April 2023, we reduced our standard fees for members – and they’re now lower than most of our major competitors.1 In fact, our Mercer Super MySuper SmartPath® standard fees are around 13% below the MySuper market average.2
So – how do our fees stack up?
The charts below illustrate how competitive our standard fees are against other super funds for a Mercer, MySuper SmartPath member with a super balance of $50,000 and $100,000.*
Annual Fees (Admin and Investment)
based on $50,000 Account Balance
Annual Fees (Admin and Investment)
based on $100,000 Account Balance
* Source: Chant West MySuper Default Fee Tables June 2023 – for $50,000 and $100,000 account balances. Fees are for Mercer SmartSuper - SmartPath® (our MySuper product) at 1 April 2023 and the total includes administration, investment and transaction fees. Chant West uses our 1964-1968 investment option for purposes of comparison with other MySuper funds – as this is the highest annual fee for our SmartPath options. You may pay less than this if you are in another SmartPath option or in an employer plan.. For details on fees for each of our SmartPath options, or if you’ve chosen your own investment option/s, go to the ‘How Your Super Works' guide online.
What fees do members pay?
All super funds charge fees to cover various costs related to your super account. These can include administration fees and costs, investment fees to manage and invest your money, and insurance fees to cover premiums. At Mercer Super we’re committed to helping our members keep more of their money where it belongs – in their super account. We do this by having some of the lowest fees in the industry.
Administration fees and costs
From 1 April 2023, we changed our standard fees and removed the dollar-based administration fee for all members.
We also reduced the asset-based administration fee to 0.10% for Mercer SmartPath members with a balance up to $500,000. For members in Mercer SmartPath with a balance in excess of $500,000, the asset-based administration fee has been reduced to nil for the amount of the balance over $500,000.3
Members also pay an estimated expense allowance range of between 0.00% to 0.05% per annum of their super account balance, and costs associated with product and strategic services, estimated to be 0.017% per annum of Mercer Super Trust assets.
|From 1 April 2023 (% per annum of your super account balance)|
|All other investment options||0.15%||0.00%|
Investment fees and costs
We also reduced our investment fees from 1 April 2023 for our Mercer Smartpath investment options.
Members also pay other investment costs. For Mercer SmartPath: Estimated investment costs of between 0.06% to 0.22% per annum of your super account balance, depending on which path you are in. For all other investment options (except Mercer Direct): Estimated investment costs of between 0.00% to 0.44% per annum of your super account balance depending on which investment option you choose.4
(% per annum of your super account balance)
|Born prior to 1959
|Born 1959 or later
How do I find out more about Mercer Super fees and costs?
You can see all of our standard fees and costs for all Mercer SmartSuper investment options in the ‘How Your Super Works’ guide which you can find online. The guide includes a table with a summary on page 7 of the standard costs per year for each of our investment options for a $50,000 balance, which you can use to compare your Mercer Super with other super funds and investment options. You can also check your annual statement which will show the total dollar value charged in fees for the statement period.
If you’re a member of an employer sponsored plan – your fees may be the same as, or less than, our standard fees.
Mercer Super delivers for members
We are pleased to report that the Mercer Super Trust Corporate Superannuation Division is delivering well above average superannuation returns for members.
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1 2 Chant West MySuper Default Fee Tables June 2023 – for $50,000 account balance. Fees are for Mercer SmartSuper – SmartPath® (our MySuper product) at 1 April 2023 and the total includes administration, investment and transaction fees. Chant West uses our 1964-1968 investment option for purposes of comparison with other MySuper funds – as this is the highest annual fee for our SmartPath options. You may pay less than this if you are in another SmartPath option or in an employer plan. For details on fees for each of our SmartPath options, or if you’ve chosen your own investment option/s, go to the ‘How Your Super Works’ Guide online. Fees and costs can vary from year to year. Past fees and costs are not a reliable indicator of future fees and costs. Fees and comparisons may differ for other investment options and account balances.
3.Excluding investments in Mercer Direct where the asset based administration fee remains unchanged – and is applied to the total of your account balance invested in Mercer Direct.
4 The investment costs and transaction costs are as at 1 April 2023 and are based on the actual information available and/or reasonable estimates for the financial year ending 30 June 2022. Fund expenses and performance based fees are based upon the latest information provided by the underlying investment managers, and are based upon the historical expenses and performance based fees for the actual assets held by the Mercer Super Trust as at the effective date of the Mercer SmartSuper PDS. For some investment managers, the expenses and performance based fees are based upon the twelve months to 30 June 2022, and for others, earlier dates. Where earlier dates have been used, they represent the latest information provided by investment managers, and we expect them to be similar for the 30 June 2022 financial year. Investment and transaction costs may vary from year to year. For more details see ‘Investment costs ’ and ‘Transaction costs’ in the ‘Additional explanation of fees and costs’ section of this Booklet.