Future Group changes fees for Guild members

GuildSuper and GuildPension members will see some changes to the fees they pay from this month.

In November last year, Future Group acquired GuildSuper, including Child Care Super, adding about $2.77 billion in funds under management and some 99,000 members. In February, the group then consolidated the operations of all its subsidiaries, undertaking an organisational restructure.

The group has now turned its attention to its product offering, rolling out fee changes for GuildSuper, GuildPension, and Child Care Super members, effective this month.

The dollar-based administration fee members pay is being decreased from $104 per annum to $88.40 per annum. This is charged in addition to a percentage-based fee of 0.15% and a contingency reserve fee of 0.02%, both of which remain unchanged.

At the same time, investment fees and costs and transaction costs have increased slightly, with investment fees and costs going from 0.53% to 0.54%, and transaction costs rising to 0.05% from 0.02%.

For a member with $50,000 invested in the MySuper Consolidating Lifestage option, they'll now pay $468.40 - $4.40 more per year.

The change to administration fees is across MySuper, MyMix and GuildPension investment options.

Upon the GuildSuper acquisition, Future Group was named the strategic superannuation partner of the Pharmacy Guild of Australia.

Just last month, GuildSuper ticked over $3 billion in funds under management (FUM), bringing Future Group's total FUM to about $14 billion.