Fees

Ensure your super is not eaten up by fees. Virgin Money Super is all about bringing value to you. Our fees are easy to understand – no commissions, no joining fee, no contribution fee, plus a Baby Break while you're on maternity or paternity leave.

How much is the annual fee?

To help you compare our super fees, here are a few examples of how much you might be charged based on a Virgin Money Super account invested in LifeStageTracker®.

 

Fee type
Adam, 28 years old
Account balance: $27,000
Invested in LifeStage Tracker
Rachel, 37 years old
Account balance: $50,000
Invested in LifeStage Tracker
Tom, 46 years old
Account balance: $120,000
Invested in LifeStage Tracker
Admin fee $58 + (0.394%
of $27,000)
= $164
$58 + (0.394%
of $50,000)
= $255
$58 + (0.394%
of $120,000)
= $531
Investment fees 0.116% of
$27,000 = $31
0.116% of
$50,000 = $58
0.116% of
$120,000 = $139
Indirect costs 0.04% of
$27,000 = $11
0.04% of
$50,000 = $20
0.04% of
$120,000 = $48
Total annual cost $207 $333 $718

Fees explained

  • Administration fee
    What do you pay for?
    How much is it? How and when is it paid?
    Administration fee (dollar based) $58 per member per year Deducted monthly from account balance
    Administration fee (asset based) 0.394% per year Generally deducted daily when unit prices are determined. Reflected in your super account balance.
  • Investment fees

    This covers the ongoing cost associated with managing your investment. It’s a percentage based fee that is applied to the money you have invested in each investment option.

    How and when is it paid?

    Generally calculated and deducted daily (from the underlying investment vehicles or the relevant investment options) when unit prices are determined. Reflected in your super account balance.

     
    What do you pay for? How much is it?
    LifeStage Tracker® 0.116% p.a. of your account balance in this option
    Australian shares 0.20% p.a. of your account balance in each of these option
    International shares
    Australian listed property
    Cash 0.10% p.a. of your account balance in this option
    Indexed diversified shares 0.20% p.a. of your account balance in this option
    Enhanced index growth 0.24% p.a. of your account balance in this option
    Enhanced index conservative growth 0.24% p.a. of your account balance in this option

     

  • Activity and exit fees
    What do you pay for?
    How much is it? How and when is it paid?
    Switching fee NIL N/A
    Exit fee $100 Deducted at the time of withdrawal, prior to your money being transferred.
    Insurance administration fee $18 p.a. Deducted monthly from account balance
    Family law split $88 One off deducted from account balance
    Family law information request $110 One off fee. Payable by cheque upon application.
    Overseas transfer fee NIL N/A
  • Indirect costs3

    What do you pay for?

      How much is it? How and when is it paid?
    LifeStage Tracker® 0.02% to 0.03% Generally deducted daily when unit prices are determined. Reflected in your super account balance.
    Australian shares 0.01%
    International shares 0.01%
    Australian listed property 0.02%
    Cash 0.01%
    Index diversified shares 0.01%
    Enhanced index growth 0.01%
    Enhanced index conservative growth 0.01%
  • For more information about fees, please read the Virgin Money Super Product Disclosure Statement and product guide.

    Baby Break

    It doesn't seem fair. When mums go on maternity leave or dads go on paternity leave, their superannuation contributions for retirement stop. So why do super funds continue to charge the full administration fees?

    Virgin Super was the first super fund in Australia to do something about it. We'll discount your asset based administration fee from 0.394% to 0.044% for up to 12 months while you're on parental leave. Keep your money in your super fund. What else would you expect from Virgin?

    Ready for your delivery?
    Our Baby Break isn’t means tested, so you get the full benefit* while you’re on maternity or paternity leave. You can apply for the Virgin Money Super Baby Break once per child.

    If you're an existing member and want to apply for the Virgin Money Super Baby Break, fill in the  Baby Break application form.

    *Conditions apply. See full terms and conditions.

    • View Baby Break terms and conditions

      Virgin Money Super Baby Break – terms & conditions

      The offer: Virgin Money Super will discount the asset based administration fee from 0.394% to 0.044% for Virgin Money Super members who are on maternity or paternity leave, for up to 12 months per child. No more than one application per child will be approved.

       

      To be eligible to receive the offer, the applicant must:

      • Be a Virgin Money Super customer (either new or existing);
      • Be on or about to go on maternity/paternity leave from their employer or self-employment;
      • Complete and submit a Baby Break application form; and
      • Provide a letter from the employer on company letterhead, including the following details: 
      1. Employee name; 
      2. HR/Finance contact name, address, telephone number and email address; 
      3. Maternity/Paternity leave start and end dates that correlate to the dates on the customer’s Baby Break Application form. 

       

      If self-employed, a letter on company letterhead detailing;

      1. Company name, address, ABN; and
      2. Maternity/Paternity leave start and end dates that correlate to the dates on the customer’s Baby Break Application Form

      Only the Asset Based Administration Fee as defined in the current Virgin Money Super Product Disclosure Statement is discounted under this offer.

      Activity Fees, Dollar Based Administration Fees, Investment Management Fees and Insurance premiums are excluded from the offer and will continue as normal.

      Following completion of maternity/paternity leave or 12 months (whichever is less), the Asset Based Administration Fees discount will be removed and the fee you pay will recommence as per the current Virgin Money Super Product Disclosure Statement.

      The offer only applies to maternity or paternity leave (either paid or unpaid) from an employer, including same sex couples for a period of 12 months or less.

      The period to which the offer applies: 

      • Concludes no more than 12 months after the baby has first arrived;
      • Will not be greater than 12 months per child; and
      • Must be declared on the Baby Break Application Form and confirmed in writing by the customer’s employer. 

      If the period you apply for is less than 12 months and you later decide to extend your leave period, please complete another Baby Break Application Form and we will extend the offer up to the maximum of 12 months.

      Should a customer in receipt of the offer cease to be on maternity/paternity leave prior to the date shown on the Baby Break Application form, they must notify Virgin Money Super immediately.

      Please allow 14 business days for Virgin Money Super to receive, process and accept the Baby Break Application Form and the Employer confirmation letter.

      Applications cannot be back dated and are not valid until processed and accepted by Virgin Money Super.

      Virgin Money Super may contact the employer nominated on the Baby Break Application Form during the period of the offer. If the contact, name, and/or leave periods details cannot be confirmed or are no longer valid, the offer may be withdrawn immediately.

      Virgin Money Super reserves the right to amend, vary or withdraw this offer at any time without notice.

      Other than is required under consumer protection law, under no circumstances will Virgin Money Financial Services Pty Limited and its related companies be liable for any loss or damage caused directly or indirectly by a user's reliance on information provided.

    Get started now with Virgin Money Super

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