Rising Tide Blog

Macquarie Super and Pension changes

Over the past couple of weeks, as a Macquarie Super client, you would likely have received an email from Macquarie outlining some changes to their pricing structure.

The language is technical, and from my perspective, challenging to understand. So, in order to hopefully make things a bit clearer, I’ve done my best to decipher things below.

But before we start, I would highly recommend you set up your access to the Macquarie portal. If you are unsure as to how to do this, you can view the steps here.

Back on to the pricing changes. Simply put, all account holders will be in a better position for at least the next three years. After that, some accounts will see a fee increase.

The fee changes are as follows:

Operational Risk Financial Requirement (ORFR) fee

• A new fee of 0.03% introduced (capped at $300 per account) – $30 per annum for every $100k invested
• This fee is covered by the trustees’ reserves that have accumulated over the years and will likely have no negative impact on your fees for the next three years.

Regulatory and operating expenses

• A new fee of 0.006% introduced – $6 per annum for every $100k invested
• This fee is covered by the trustees’ reserves that have accumulated over the years – and will likely have no negative impact on your fees for the next three years.

Cash Hub Admin Fee Changes (relating to Super/Pension)

• All accounts have some cash allocation, and, in many circumstances, this fee saving will offset (and be larger than the additional expenses above).
• The admin fee payable on cash will reduce from 1.5% -> to 1.2% (saving $300 per annum for every $100k invested)

We have also made the move to annual agreements, so please read here for more info.

I hope that helps and remember, please reach out if you have any queries.

Matt Hale (matt@ctrt.com.au)