Superannuation and Allocated Pension Commission Rebates

Enjoy More of Your Nest Egg

All working Australians will have a superannuation fund, but most of us don’t give it much thought on a day to day basis. This is because the fund doesn’t do a lot on a day to day basis, and doesn’t require our input as our employers make their 9% contributions and we wait for our quarterly statements where we can read about the highlights.

However, the highlights you won’t read about in your superannuation fund statement are the commissions which were paid on a percentage of your super balance, and your super fund definitely won’t tell you how to have those commissions paid to you – luckily we will.

What Are Superannuation and Allocated Pensions?

Your superannuation fund is one of the most important accounts you will have in your life, because it is the accumulation of your working life, and will fund your retirement – the time when you get to relax and do whatever you most enjoy, all the time. You can make personal contributions to your super and in some eligible cases the Australian Government will match those contributions to boost your fund, on top of the 9% your employer is obligated to contribute. When you retire, your super fund is rolled over into a allocated pension account and this gives you access to the balance of your superannuation as an ongoing income to fund your retirement.

How Trailing Commissions Are Applied to Your Superannuation and Allocated Pension

Since you understand the importance of your superannuation fund and allocated pension account, you are probably shocked to find that fees and commissions are coming out of your precious funds, and eating into your hard earned retirement plans.

The trailing commissions paid on superannuation funds and allocated pensions are usually between 0.4% and 1.2% of the balance of the fund or account, each year. Therefore, if you have $200,000 in a super fund, up to $2,400 could be being paid to a financial advisor who established the fund. These commissions are paid on an ongoing basis for the help the advisor gave in setting up the fund, and to cover ongoing assistance they offer you however, think for a moment about the assistance you have received on an ongoing basis for your super fund…anything? Even if you dealt directly with the account or fund provider, the commissions are still calculated and paid directly to the provider.

Plus, when funds are contributed to your super fund, they are charged entry fees which can be as much as 5%, so you are losing 5% of your retirement funds before they have even reached your super fund. These entry fees can accumulate very quickly too, because your employer will make regular contributions to your fund, and each time they do, 5% of that contribution could be lost.

How You Can Get Commission Rebates Back From Your Superannuation and Allocated Pension

Now you know about the fees and commissions, you can take action to get them back, all you have to do to request your refund is register now with Commission Rebates. By registering, Commission rebates becomes the broker on your superannuation fund or allocated pension account and we will collect the trailing commissions paid on your fund, and refund them back to you annually.

Registering with Commission Rebates also allows us to abolish all entry fees you were previously paying on your super contributions, so that all of your funds can reach your investment account, and all of your money can work to grow for the future you deserve.

To start claiming the trailing commissions and to put an end to entry fees on your super fund and allocated pension account, request a refund by registering now with Commissions Rebates.

Helpful related resources