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Australian Catholic Super drops fees
Australian Catholic Superannuation has reduced its asset-based administration fees to 0.19% per annum and reduced its investment management fees by 0.01%.
The super fund said the investment management fee for cash and term deposits remained the same and the fund’s maximum asset-based administration fee for each member reduced from $2,000 to $1,520 per financial year.
The fund’s chief executive, Greg Cantor, said the fund was focused on service and competitive fees for members.
“This fee reduction is about putting our members first. Our goal is to help our members achieve the best retirement outcomes,” Cantor said.
Cantor noted the fund was also focused on providing more online services and call centre support for members and employers during the COVID-19 pandemic.
“We recognise that in the current environment our members are seeking advice and information on their superannuation options and retirement planning more than ever,” he said.
“We have responded by providing more webinars for our members and access to our team of financial planners by video conference.”
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The fund has achieved double-digit returns amid market volatility, reinforcing the value of long-term investment strategies for its members.
Australian super funds notched a third consecutive year of strong returns, with the median balanced option delivering an estimated 10.1 per cent over the 2024-25 financial year, but an economist has warned that the rally may be harder to sustain as key risks gather pace.
AustralianSuper has reported a 9.52 per cent return for its Balanced super option for the 2024–25 financial year, as markets delivered another year of strong performance despite the complex investing environment.
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