Superannuation Industry (Supervision) Regulations 1994

PART 9AB - ANNUAL PERFORMANCE ASSESSMENTS ETC.  

Division 9AB.3 - Comparison rankings  

REGULATION 9AB.24   FEE RANKING FORMULA  

9AB.24(1)    

For the purposes of paragraphs 9AB.21(2)(b) and 9AB.22(2)(b) , the formula is:

Applicable investment fee

+

Applicable administration fee

+

Applicable cost amount

where:

applicable administration fee
has the meaning given by subregulation (2) .

applicable cost amount
means:

(a) where it is possible to identify the Part 6A product ' s applicable transaction costs in relation to the relevant year from information available to APRA - means the applicable transaction costs; or

(b) otherwise - means the applicable indirect cost ratio.

applicable indirect cost ratio
means the product of the following:

(a) the relevant beneficiary ' s account balance in respect of the Part 6A product;

(b) the Part 6A product ' s indirect cost ratio in relation to the relevant year.

applicable investment fee
has the meaning given by subregulation (3) .

applicable transaction costs
has the meaning given by subregulation (4) .

9AB.24(2)    
For the purposes of subregulation (1) , work out the applicable administration fee as follows:

(a)    first, work out the product of the following:

(i) an account balance in respect of the Part 6A product;

(ii) the Part 6A product ' s administration fee percentage in relation to the relevant year;

(b)    work out the sum of the following:

(i) the result of paragraph (a) ;

(ii) the Part 6A product ' s administration fee flat amount in relation to the relevant year;

(c)    if the Part 6A product does not have an administration fee cap in relation to the relevant year, the applicable administration fee is the result of paragraph (b) ;

(d)    if the Part 6A product has an administration fee cap in relation to the relevant year, the applicable administration fee is the lesser of the following:

(i) the result of paragraph (b) ;

(ii) that administration fee cap.

9AB.24(3)    
For the purposes of subregulation (1) , work out the applicable investment fee as follows:

(a)    first, work out the product of the following:

(i) an account balance in respect of the Part 6A product;

(ii) the Part 6A product ' s investment fee percentage in relation to the relevant year;

(b)    work out the sum of the following:

(i) the result of paragraph (a) ;

(ii) the Part 6A product ' s investment fee flat amount in relation to the relevant year;

(c)    if the Part 6A product does not have an investment fee cap in relation to the relevant year, the applicable investment fee is the result of paragraph (b) ;

(d)    

if the Part 6A product has an investment fee cap in relation to the relevant year, the applicable investment fee is the lesser of the following:

(i) the result of paragraph (b) ;

(ii) that investment fee cap.

9AB.24(4)    

For the purposes of subregulation (1) , work out the applicable transaction costs as follows:

(a)    first, work out the product of the following:

(i) an account balance in respect of the Part 6A product;

(ii) the Part 6A product ' s transaction costs percentage in relation to the relevant year;

(b)    work out the sum of the following:

(i) the result of paragraph (a) ;

(ii) the Part 6A product ' s transaction costs flat amount in relation to the relevant year;

(c)    if the Part 6A product does not have a transaction costs cap in relation to the relevant year, the applicable transaction costs is the result of paragraph (b) ;

(d)    if the Part 6A product has a transaction costs cap in relation to the relevant year, the applicable transaction costs is the lesser of the following:

(i) the result of paragraph (b) ;

(ii) that transaction costs cap.