Australian Catholic Superannuation has reduced its asset-based administration fees to 0.19% per annum and reduced its investment management fees by 0.01%.
The super fund said the investment management fee for cash and term deposits remained the same and the fund’s maximum asset-based administration fee for each member reduced from $2,000 to $1,520 per financial year.
The fund’s chief executive, Greg Cantor, said the fund was focused on service and competitive fees for members.
“This fee reduction is about putting our members first. Our goal is to help our members achieve the best retirement outcomes,” Cantor said.
Cantor noted the fund was also focused on providing more online services and call centre support for members and employers during the COVID-19 pandemic.
“We recognise that in the current environment our members are seeking advice and information on their superannuation options and retirement planning more than ever,” he said.
“We have responded by providing more webinars for our members and access to our team of financial planners by video conference.”