Contents
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Commencement
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Estimates Replies
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SOUTHERN STATE SUPERANNUATION SCHEME
In reply to Mr HAMILTON-SMITH (Waite—Leader of the Opposition) (25 June 2008).
The Hon. K.O. FOLEY (Port Adelaide—Deputy Premier, Treasurer, Minister for Industry and Trade, Minister for Federal/State Relations): I have been provided the following information:
The administration fees charged by Super SA are currently $52 per year on each Triple S account. Funds SA deducts an investment management fee prior to declaring investment returns, based on the investment option selected.
The total administration and investment management fees on an account balance of $40,000, which is the average Triple S account balance, is $288 pa. This compares favourably with other private sector funds, as shown in the table below.
| Scheme | Total Management Fees Per Year(based on a balance of $40,000) |
| Triple S | $288 |
| Australian Super | $328 |
| REST | $332 |
| Host Plus | $342 |
| Cbus | $440 |
| AMP SuperLeader | $606 |
| AXA Super Directions (for business) | $974 |
| Colonial First State Employer | $832 |
| MLC Masterkey Business Super | $753 |