The Local Government Superannuation scheme (Employer Scheme) provides superannuation benefits for local government employees. Find out how it works, and how it can help you.
Find out about our fees here
The annual fund charges comprise:
- an annual management fee of 0.33% per annum expressed as a percentage of the Fund’s net asset value, deducted from the Scheme. This fee covers Civic’s management of the Scheme, as well as the Scheme’s underlying fund manager fees, and other scheme-related charges and expenses paid by Civic as Administration Manager.
- fees and expenses recovered from the underlying funds we invest in (referred to as ‘in-fund costs’) for each investment option is 0.003%.
The in-fund costs are not fixed as the actual amount of these costs will vary slightly from year to year based on average balances. This means that this component of the annual fund charges can only be estimated.
The annual fund charges exclude transaction costs incurred by the funds in which the Scheme invests.
The administration fee is paid to Civic for the administration services it provides to the Scheme. Where applicable, this fee is paid from your member account, at the rate of $6 monthly in arrears from the start of your membership.