Estimates Committee A - Answers to Questions Fifty-First Parliament, Second Session (51-2) 51 2 Parliament of South Australia Estimates Committee A - Answers to Questions published Estimates Replies Southern State Superannuation Scheme SOUTHERN STATE SUPERANNUATION SCHEME In reply to Mr HAMILTON-SMITH House of Assembly Waite Leader of the Opposition SOUTHERN STATE SUPERANNUATION SCHEME In reply to Mr HAMILTON-SMITH (Waite—Leader of the Opposition) (25 June 2008). The Hon. K.O. FOLEY House of Assembly Port Adelaide Deputy Premier Minister for Industry and Trade Minister for Federal/State Relations SOUTHERN STATE SUPERANNUATION SCHEME 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