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Why do fees matter

Education HUB article

5 minute read

We pride ourselves on keeping our fees low to help you maximise your savings.

SmartStart Super is rated one of the cheapest public offer super funds in Australia1.

Why do fees matter?

With super, every dollar counts. Paying high fees can leave you with less savings than what you may expect at retirement. That’s why it is important to know what you are paying.

Small differences in the fees your super fund charges can have a substantial impact on your savings at retirement.  In other words, total annual fees and costs of 2% of your account balance rather than 1% could reduce your final return by up to 20% over a 30 year period (for example reduce it from $100,000 to $80,000)2

What fees does SmartStart Super charge?

$98 per annum administration fee

This fee covers the general super fund operation costs of managing your super account including processing your contributions, providing you with a secure online portal to view your super account details, maintaining a call centre, issuing annual statements and so on.

Investment fee & Indirect cost ratio (ICR)

 SmartStart Super does not charge an Investment fee.

The ICR is the estimated costs in managing your investments in your super account and is expressed as a percentage of your account balance. It is charged by the managed funds that are offered as the investment options.

The ICR for the Bendigo MySuper investment options at 1 April 2020 are:

  • Bendigo Growth Index Fund: 0.48% p.a.
  • Bendigo Balanced Index Fund: 0.46% p.a.
  • Bendigo Conservative Index Fund: 0.44% p.a.

Visit the relevant PDS for the ICR that applies to your investment option/s. 

Performance fees – Nil

Buy-sell spreads

A buy-sell spread is a fee to recover the transaction costs incurred for buying and selling investments. The buy-sell spread is incurred when you purchase or redeem units in a managed investment fund option, by applying the buy price or sell price (as applicable) at the time of the transaction. View the latest SmartStart Super buy/sell spread.

Transaction costs

Entry Fee     Nil
Lump Sum Withdrawal Fee     Nil
Rollover Fee         Nil
Contribution Splitting Fee   Nil
Account Closure Fee     Nil
Investment Switching Fee  Nil
Binding Nomination Fee             Nil
Family Law Act Information Request   Nil
Family Law Act Splitting Fee       $100

Advice fees

If you have a Financial Adviser, then these are fees you negotiate with them and instruct us to pay out of your super account.



Superannuation products are issued by our wholly owned subsidiary Sandhurst Trustees Limited.

How to calculate the annual fees and costs for managing your super account?

To calculate the estimate annual fees and costs, you will need your super balance and the investment option(s) you are invested in. You can input this information into the simple formula below to work out your fees.

For example, if you are fully invested in the Bendigo Growth Index Fund, the MySuper lifestyle option for members under age 55.

Admin fee + (Balance X ICR)

$98 + ($50,000 X 0.469%) = $3333 to manage over the course of the year.


Compare the Bendigo MySuper fees to other super funds

Our MySuper comparison chart shows how the Bendigo MySuper option for under age 55 compares against other super funds.


Fee comparison calculator - how do fees affect my super balance?

Planning retirementWhere do I start?

Investment strategiesWhat’s the best investment strategy for my age?


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Things you should know The super fund comparisons were based on the lowest average fees payable on a $50,000 account balance as at 30 June 2020.

2 If you would like to find out more, or see the impact of fees based on your own circumstances, the Australian Securities and Investments Commission (ASIC) website ( has a superannuation calculator to help you check out different fee options.

3 Additional fees may apply. And, if you leave the financial product, you may be charged a buy-sell spread which also applies whenever you make a contribution, withdrawal, rollover or investment switch. The buy spread for exiting is 0.08% (this will equal to $40 for every $50,000 you withdraw).

Sandhurst Trustees Limited

Sandhurst Trustees Limited ABN 16 004 030 737 AFSL 237906 (Sandhurst) is a wholly owned subsidiary of Bendigo and Adelaide Bank Limited ABN 11 068 049 178 AFSL 237879. Each of these companies receive remuneration on the issue of the product or service they provide. Sandhurst is the responsible entity and issuer of the managed funds available on this website, and is also the trustee and issuer of the Bendigo superannuation products. Investments in these products are not deposits with, guaranteed by, or liabilities of Bendigo and Adelaide Bank and are subject to normal investment risk, including possible delays in repayment and loss of income and capital invested. Before making an investment decision in relation to one of these products you should consider your situation and read the relevant Product Disclosure Statement available on this site.

Sandhurst is the issuer of the commercial lending products and the provider of any traditional trustee services available on this website. The Bendigo Funeral Bond (“the Bond”) is an investment product issued by Australian Friendly Society Limited (“the Society”), ABN 29 087 648 851 AFSL 247028, with benefits provided by the Society’s Funeral Benefit Fund established under Schedule 1, Rule E of its constitution and administered by Sandhurst. The Travel Protection Plan is issued by AIA Australia Limited ABN 79 004 837 861 AFSL 230043. The Society is associated with the Bank and its related entities. Neither the Bank nor any of its related entities guarantee the repayment of capital invested or the investment performance of the Bond. Information is correct at the date of this document and is subject to change.

The content on this website has been jointly prepared by Sandhurst and Bendigo and Adelaide Bank and contains general advice only. Advice in relation to superannuation and managed investment schemes is provided by Sandhurst and advice in relation to life risk insurance is provided by Bendigo and Adelaide Bank. It is provided as general information and must not be relied upon as a substitute for financial planning, legal, tax or other professional advice. The information is given in good faith and has been derived from sources believed to be accurate at its issue date. Neither Sandhurst nor the Bendigo and Adelaide Bank give any warranty for the reliability or accuracy or accept any responsibility arising in any way, including by reason of negligence for errors or omissions for the information contained on this website. The information contained on this website is subject to change without notice. Neither Sandhurst nor the Bendigo and Adelaide Bank has an obligation to update, modify or amend this website or notify you in the event that a matter of opinion or projection stated changes or subsequently becomes inaccurate.

Neither Sandhurst nor Bendigo and Adelaide Bank is responsible for the content of any other site accessed via this site. That information is the responsibility of the site owner. Links to other sites are provided for convenience only and do not represent any endorsement by Sandhurst or the Bendigo and Adelaide Bank of the products offered by the site owner.

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Bendigo and Adelaide Bank Limited, ABN 11 068 049 178 AFSL / Australian Credit Licence 237879. Any advice provided on this website is of a general nature only and does not take into account your personal needs, objectives and financial circumstances. You should consider whether it is appropriate for your situation. Please read the applicable Disclosure Documents before acquiring any product described on this website. Please also review our Financial Services Guide (FSG) before accessing information on this website. Information on this page can change without notice to you.

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