Fees & Charges
No fees and charges are deducted from employer contributions, protecting the trust’s capital from erosion. Furthermore, NEST does not charge employers or employees any fees or expenses of any type, however, employers are liable for any applicable stamp duty or taxes.
All expenses associated with the administration and operations of NEST are paid solely from administration fees. Administration fees are deducted only from investment income.
The following checklist shows NEST’s efficient cost structure.
| Checklist of Direct Fees and Charges | ||
|---|---|---|
| Question | Answer | How much and when is it paid? |
| Is there an establishment fee to set up a NEST account? | No | N/A |
| Is there a contribution fee for my initial contribution or any subsequent contribution made to NEST? | No | N/A |
| Will a withdrawal fee for any withdrawal made from the fund? | No | N/A |
| Is a termination fee payable when my NEST account is closed? | No | N/A |
| Will I have to pay an adviser service fee of any type if advice or assistance is required from a NEST representative? | No | N/A |
| Will employees be charged member fees or account keeping fees of any description for either active or inactive accounts? | No | N/A |
| Will I or my employees be charged any ongoing fees for fund administration, Trustee expenses, Trustee committees, investment management, indirect expenses, expense recovery and any other fees that may be charged; other than the administration fee described in the checklist of indirect fees and charges below? | No | N/A |
| Checklist of Indirect Fees and Charges | ||
|---|---|---|
| Question | Answer | How much and when is it paid? |
| Does the fund administrator receive an administration fee for the general administration of the fund? | Yes | The fund administrator receives administration fees. These fees are calculated depending on the number of current members, in accordance with its contract with NEST Nominees Pty Ltd as Trustee of the National Entitlement Security Trust. |
| Do employers or employees pay investment management fees or investment advisor fees? | No | All investment management fees and investment advisor fees are paid out of the earnings of the fund. |
| Do employers or employees pay expense recoveries for the out-of-pocket expenses the trustee is entitled to recover from the fund? | No | Expenses are payable out of the Fund’s earnings. |
Additional Fee Disclosures
Government Charges
Government taxes such as GST will be charged to the fund. GST of 10% is applied to administration fees. The Government allows that up to one hundred percent 100% of GST paid by NEST can be claimed back. This is claimed by NEST and redistributed as trust income to NEST beneficiaries annually.
Commissions and Benefits
NEST does not pay any commissions to third parties or provide any soft dollar benefits to any person or organisation.