BUSSQ lowers admin fees

The $7 billion super fund will no longer charge members a weekly administration fee of $1.75 ($91 per year) and will reduce the percentage-based administration fee from 0.20% to 0.18% per year.

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Prior to July 1, members with an account balance of $50,000 would have been charged, or have deducted, $100 in administration fees and costs of up to a maximum of $1000 per year, plus $91 regardless of the account balance.