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CPI

CPI stands for Consumer Price Index, which is used as a measure of inflation.

Investment risk

The main risk when investing your super is that your savings will fall short of your income needs in retirement. The appropriate level of risk will depend on when you need to access your super savings.

Standard Risk Measure

The Standard Risk Measure is used across super funds to help members compare the risk levels of investment options. It is the short-term risk that your super savings will be reduced by volatility (or the ups and downs) of investment markets and the estimated number of negative returns that may be experienced in 20 years. Actuarial calculations are done to come up with an estimate for each investment option.

Return

The net return is the average annual return over ten years to 30 June 2021 after taxes, administration fees and the investment fees for the investment option. 

Return target

The return target is an estimate of the expected return above inflation (after fees and costs) over a ten year period.

One year return

The financial year return for each of the last ten years for the Balanced option.

Ten year average return

Is the average annual return at 30 June for the last ten financial years less taxes, investment fees and administration fees. 

Ten year moving average return target

Is the actual ten year average return target for the investment option less administration fees.

Administration fees

The administration fee is comprised of two components:

1. The $2.25 per week, which is calculated weekly and deducted monthly from your account, and
2. The up to 0.04% pa of your account balance, which is deducted from investment returns daily, before returns are applied to your account balance.

The administration fee is paid into the Fund’s administration reserve and the Fund pays its administration fees and costs from that reserve.

Investment fees

The Investment fee is charged to cover the cost to us of managing your investments. These costs include external investment management fees, performance related fees, plus transactional and operational costs.

This fee includes expenses incurred by AustralianSuper, as well as amounts deducted indirectly via underlying fund investments. Each of the individual fees and costs that make up the overall Investment fee are calculated looking back as at 30 June each year (using the average value of all the assets in the investment option over the year to 30 June). These individual fees and costs may change from year to year. For the Balanced option, this was 0.63% for the 2020/21 financial year.

Indirect cost ratio

This is another way of calculating the cost of managing your investments. AustralianSuper doesn’t calculate an Indirect cost ratio. Instead, the costs relating to managing your investments are included in our overall Investment fee.

Adviser service fee (Advice fees)

This fee is negotiated between you and your adviser for advice about your investment in AustralianSuper. This can include advice on your investment options, insurance cover, contributions to super and retirement pension options and can be deducted from your super account or paid directly to your adviser. The cost of advice on non-super matters can’t be deducted from your account.