Document ID: chunk:federal_register_of_legislation:F2021C00160:body:0:p17
Version: federal_register_of_legislation:F2021C00160
Segment Type: other
Provision Reference: 
Character Range: 45126–47994

year and not first offered in the current financial year—based on the responsible person's reasonable estimate of the costs for the current financial year at the time the Product Disclosure Statement is prepared; or

             (d) if the investment option was first offered in the current financial year—based on the responsible person's reasonable estimate of the costs for the current financial year at the time the Product Disclosure Statement is prepared, adjusted to reflect a 12 month period.

    104B Calculating fees and costs in periodic statements

        In periodic statements, fees and costs (including indirect costs) are to be determined over the period to which the periodic statement relates.

    Part 2—Product Disclosure Statements: Fees and Costs Summary, Example of Annual Fees and Costs and Consumer Advisory Warning

    Division 1—The Fees and Costs Summary for superannuation products

    201 Fees and Costs Summary for superannuation products

        Fees and other costs
    This section shows fees and other costs that you may be charged. These fees and other costs may be deducted from your money, from the returns on your investment or from the assets of the superannuation entity as a whole.

    Other fees, such as activity fees, advice fees for personal advice and insurance fees, may also be charged, but these will depend on the nature of the activity, advice or insurance chosen by you. Entry fees and exit fees cannot be charged.

    Taxes, insurance fees and other costs relating to insurance are set out in another part of this document.

    You should read all the information about fees and other costs because it is important to understand their impact on your investment.

    [If relevant] The fees and other costs for each MySuper product offered by the superannuation entity, and each investment option offered by the entity, are set out on page [insert page number].

        Fees and costs summary
[Name of superannuation product]
Type of fee or cost                         Amount      How and when paid
Ongoing annual fees and costs1
Administration fees and costs
Investment fees and costs2
Transaction costs
Member activity related fees and costs
  Buy‑sell spread
  Switching fee
  Other fees and costs3

1. If your account balance for a product offered by the superannuation entity is less than $6,000 at the end of the entity's income year, certain fees and costs charged to you in relation to administration and investment are capped at 3% of the account balance. Any amount charged in excess of that cap must be refunded.

2. [Where the amount for performance fees is zero or positive, insert a footnote Investment fees and costs includes an amount of x.xx% for performance fees. The calculation basis for this amount is set out under "Additional explanation of fees and costs". Where the amount for