POWERED BY MOMENTUM MEDIA
Spirit Super drops admin fees
MTAA Super and Tasplan officially merged today to become Spirit Super and have announced a reduction in its administration fee.
From today, the fund’s flat rate admin fee would decrease from $1.50 per week to $1.30 per week, and its total admin fee cap would reduce from $528 per year to $517.60 per year.
Spirit Super chief executive, Leeanne Turner, said the purpose of the merger was to provide better service, products, and value to members.
“We’re currently in a transition period as we move to a single administration system,” Turner said.
“For members, this will mean some transactions will be limited or delayed for the next month. That said, our call centres are always on hand to help members with any queries they may have.”
Recommended for you
In its pre-election policy document, the FSC highlighted 15 priority reforms, with superannuation featuring prominently, urging both major parties to avoid changing super taxes without a comprehensive tax review.
The Grattan Institute has labelled the Australian super system as “too complicated” and has proposed a three-pronged reform strategy to simplify superannuation in retirement.
Super funds delivered a strong 2024 result, with the median growth fund returning 11.4 per cent, driven by strong international sharemarket performance, new data has shown.
Australian Ethical has seen FUM growth of 27 per cent in the financial year to date.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
32.68 3 y p.a(%)
2
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.72 3 y p.a(%)
3
Spire Oaktree Opportunities XI First Close USD
31.36 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.60 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
27.64 3 y p.a(%)
