One of the key features of the development of MySuper products was the setting of standard rules for all default superannuation funds accepting mandatory employer contributions. The goal of the legislation was to simplify fees so that members can see what they pay. It also was designed to enable a fund member to compare his or her fund against other MySuper products.
The fee scale is simple – with separate values applied to administration and investments. The former (which covers operations, marketing and many other non-administration matters) is typically set at $1.50 a week.
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