Welcome to another year with the Virgin Super Team.
We’re pretty revved up about turning 3 this year. And it’s all down to you!
We’re thrilled that you’ve invited us to help you boost your retirement savings. Thanks to you, we now have 25,000 customers investing over $200 million of super with us. We look forward to sharing many more happy birthdays with you!
Staying ahead of the pack
We’re always trying to think outside the square. So, we thought we’d surprise you by cyber-connecting you to this year’s Annual Report. Not only is it heaps quicker to find what you’re after, we’re one of the first super funds doing it this way. Of course, if you’d prefer to receive your Annual Reports by post just call our Customer Care Team on 1300 652 770 to let us know.
For a full run down on what’s been going on with Virgin Super, the markets and performance, it’s important to read your Annual Report together with your 2008 Annual Statement and the Performance Snapshot we’ve sent you. All of these documents show you how your super’s performed and what’s been happening on the super front recently. So, don’t let us keep you…read on!
Brilliant today. Super tomorrow.
Just because you may not be able to get your hands on your super for ages, doesn’t mean you shouldn’t have fun with it now. That’s why we’re really focussed on giving you access to great perks that you can enjoy today and tomorrow.
So keep your eyes peeled for some great Mates Rates coming your way. In the meantime, check out how our fee structure can help you grow your super now.
New fee structure
Fees can really eat away at your stash of super cash. That’s why we’ve always kept our fees to a minimum. But we’ve gone one better to make sure your super’s working harder than you at all times.
Up until 30 June 2008, you paid a single Management Fee of 1% per annum on your total account balance. From 1 July 2008, we split this single fee structure into two:
- Member Fee of $1.00 per week; and
- Sliding scale percentage based Management Fee, which reduces as your account balance grows.
Short version? You could actually save money by paying less fees and grow your super faster! Here’s what we mean
| What’s it for? | Cost | How do we work it out? |
|---|---|---|
| Administering your account | $1 per week | It’s deducted monthly from your super account. |
| What’s it for? | Cost* | How do we work it out? |
|---|---|---|
| Managing your investments | Up to $25,000 × 1% p.a. $25,001 – $250,000 × 0.8% p.a. $250,001 and over × 0.6% p.a. | It’s calculated on the value of your month end account and deducted monthly from your account or when you withdraw your super. |
*Different costs apply to the amount in your account balance according to the sliding scale shown.
Check out page 29 of our Personal or Employee Product Disclosure Statement (as applicable) which can be found on our FAQs and help page for more detail.