Features and fees at a glance
| Investment options | |
| Ready-made portfolios | 17 specially selected multi-manager investment portfolios managed by IOOF. |
| Self-selected managed funds | 130 managed investment funds.(excluding all closed options and includes 6 suspended options) |
| Listed securities | Direct securities listed on the Australian Securities Exchange1. |
| Interest rate securities | Fixed and variable interest rate options for various terms2. |
| Investment minimums3 | |
| Minimum investment for ready-made portfolios | Nil |
| Minimum investment for managed funds | Nil |
| Minimum share trades4 | $3,000 per share |
| Minimum interest rate securities5 | $20,000 per investment |
| Insurance options | |
| Employee default death and total & permanent disablement (TPD) cover | Minimum insurance cover based on a premium of $2 per week. |
| Death only cover | There is no maximum amount for death cover for members aged between 16 and 696. |
| Death and TPD cover | The maximum TPD cover is $3 million dollars for members aged between 16 and 657. |
| Income replacement cover | Up to $25,000 per month payable for up to 2 or 5 years, or to age 65. |
| Other features | |
| Investment switching | Up to two free investment switch instructions per financial year. |
| Online access |
Access your account online from our website
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| Superannuation consolidation service | We can help you transfer your superannuation balances into one account to reduce fees. |
| Spouse accounts | Access to employees’ reduced fee structures for spouses. |
| Clearing house facility | Allows eligible employers to make contributions to their preferred superannuation funds. |
| Flexible contribution payment options | Easy contribution submission via cheque, direct debit or Bpay®8. |
| Competitive pricing with group fee discounts | Employers may be eligible for fee reductions in account and management fees. |
| Seamless pension options when you retire | Transfer to pension without incurring buy/sell costs unless you switch investments. |
| Summary of fees and charges | |
| Contribution fee | Ranging from 0% to 4.10% negotiated by you or your employer with the financial adviser. |
| Member fee | Up to $53.30 pa |
| Termination fee | $75.00 |
| Withdrawal fee | $60.00 |
| Administration fee | First $175,000 | 1.025% to 1.845% (or as negotiated with the Trustee) |
| $175,001–$400,000 | 1.025% | |
| Above $400,000 | 0.410% | |
| Please refer to the Product Disclosure Statement for full explanation of fees and charges. | ||
| Portfolio management fee | Up to 1.025%pa of the value of the assets in your Spectrum Super account. This fee will be an additional cost to you. |
| Investment fees | 0.27%pa to 2.17%pa depending on the investment options you choose. |
| Switching fees | You will not be charged for the first two switching instructions per financial year when you change from one investment option to another. Thereafter, a $30 administration fee will be charged for each switch. |
| Listed security fees | You will be charged share brokerage of 0.205% of the gross value of the trade (or $2.05 per $1,000 trade – minimum $38.44). |
Additional fees may apply to your account. For full details of the fees and costs associated with your account please see the Product Disclosure Statement.
1 The available listed securities are stocks included on the S&P/ASX300 and a list of approved securities.
2 Due to the fixed nature of an interest rate security investment, the availability (liquidity) of the investment is restricted for the nominated term.
3 The maximum overall combined investment weighting that you can hold in listed, unlisted and interest rate securities is 80%.
4 Maximum overall investment is 80% of your account balance.
5 Maximum overall investment is 80% of your account balance.
6 Death cover ceases at age 70.
7 TPD cover ceases at age 65.
8 ® Registered to Bpay Pty Ltd ABN 69 079 137 518.
