Members of Sunsuper can now benefit from reduced fees and costs following changes introduced 1 July 2019. Sunsuper has reduced its weekly fee from $3.00 to $1.50 for pension members and reduced the investment fee and costs for its pension account default investment option from 0.80% to 0.73%.

For more than 1.3 million Super-savings members, Sunsuper has reduced the investment fee and costs for its default investment option from 0.85% to 0.79%.

Sunsuper’s Chief Financial Officer Jason Sommer said the Fund is also maintaining its insurance premiums at a time when a number of other funds have had to increase insurance premiums in response the Protecting Your Super legislation.

“These changes further strengthen Sunsuper’s position as one of the lowest cost superannuation funds in Australia,” Mr Sommer said.

“As a profit-for-members fund, our strong growth and increasing scale means we can pass on savings to members,” Mr Sommer said.

“Passing on a reduction in fees and costs is consistent with our duty to act in our members’ best interests and halving the weekly administration fee for our pension members and reducing investment fees and costs is a great outcome”.

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Disclaimer: This article has been prepared and issued by Sunsuper Pty Ltd, the trustee and issuer of the Sunsuper Superannuation Fund. Sunsuper Pty Ltd ABN 88 010 720 840, AFSL No. 228975, is the Trustee and issuer of the Sunsuper Superannuation Fund ABN 98 503 137 921, USI 98 503 137 921 001.