Some fees for Triple S, the Income Stream, Flexible Rollover Product and Super SA Select will be changing.

If you are a member or investor of one of these schemes you will be receiving a Significant Event Notice containing the details shortly.

You can also access the scheme specific Significant Event Notice below:

 Triple-S-logo  IS-logo  FRP-logo  Select-Logo
Access the Triple S SEN here Access the Income Stream SEN here Access the FRP SEN here Access the Super SA Select SEN here

                                                                   

Overview:

Administration fees for Triple S, the Flexible Rollover Product (FRP) and Super SA Select increasing

As of 1 January 2020 the administration fees will change. In addition to the existing flat fee of $1.35 per week ($70.20 pa), members will pay 0.05% of their account balance p.a. (capped at $325 p.a.). This change will ensure we continue to cover the costs of providing you with a competitive level of services, products and benefits.

Family law fees for Triple S, the Income Stream, FRP and Super SA Select increasing

There will be a small increase in Family law fees members to reflect processing costs.

Income Stream administration fees decreasing

From 1 January 2020, there will be a reduction in the administration fee from 0.3% to 0.15% of balance p.a., and a reduction to fee caps.

Low account balance protection arrangements for Triple S and Super SA Select changing, new for FRP

Changes to low account balance protection arrangements will commence on 1 July 2020 to align with the Commonwealth Government’s “Protecting Your Super Package”.

FRP Withdrawal fee removed

FRP members will benefit from the changes with the removal of the partial withdrawal fee, also to align with the Commonwealth Government’s “Protecting Your Super Package”.

Unit pricing

Super SA is reviewing the way unit prices are applied to members’ accounts. The review is expected to be finalised by mid 2020 and any changes from the review are expected to be introduced shortly after.

 

If you have any questions call us on 08 8207 2094 during business hours, email us at supersa@sa.gov.au, visit the Member Service Centre or book an appointment with a licensed financial adviser.

 

1 Source: Chant West Super Fund Fee Survey June 2019 – Chant West Pty Ltd (www.chantwest.com.au)