Changes to SuperFund admin fees, risk rates and policyTo ensure alignment between all SuperFund packages (Easy, Choice, and Customised), Old Mutual has taken a decision to align the effective dates of all our annual administration fees, risk rates and policy changes.ARTICLE BY: Old Mutual Corporate | DATE 18 November 2024 | READ TIME: 2 MIN

To ensure alignment between all the SuperFund packages (Easy, Choice, and Customised) and policy schedule updates, Old Mutual has taken a decision to align the effective dates of all our annual administration fees, risk rates and policy changes.

Updated risk rates and administration fees will be applicable in respect of new business with effect from 1 April 2024, and existing business will be reviewed with effect from 1 July 2024. 

The details of the new effective dates are included below and provided as a comparison to the current effective dates.

Current practice

1. Effective date 1 January 

  • SuperFund Easy: Administration fee (incl governance fee), risk rate, and benefit and risk policy changes for new and existing business
  • SuperFund Choice and SuperFund Customised: Administration fee (incl governance fee) and risk policy changes for new business

2. Effective date 1 May

  • SuperFund Choice and SuperFund Customised: Integrated risk rate changes for new business

3. Effective date 1 July 

  • SuperFund Choice and SuperFund Customised: Administration fee (incl governance fee) and integrated risk rate and risk policy changes for existing business

New practice from 2025 

Effective date 1 April

  • SuperFund Easy, SuperFund Choice, and SuperFund Customised: Administration fee (incl governance fee) and integrated risk rate and risk policy changes for new business

Effective date 1 July

  • SuperFund Easy, SuperFund Choic,e and SuperFund Customised: Administration fee (incl governance fee) and integrated risk rate and risk policy changes for existing business

If you have any questions or would like to know more, visit our SuperFund page and scroll down for the contact number of the Corporate Consultant in your area.

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