Our Loyalty Discount Program
How it works
We created a loyalty discount program to reduce fees for members who stay with the fund.
You’ll automatically be enrolled in the program as soon as your balance reaches $1,000. The discount is calculated off your percentage-based admin fee and is paid as a refund at the end of 12 months.
Even better;
- 1If your balance falls below $1,000 for any reason in the future, you’ll still keep your discount level by staying with the fund.
- 2If your balance is $1,000 or more, and you stop working for a period – you still continue to progress towards the next discount level just by staying with the fund.
The program came into effect on December 16, 2022 for all members. If you already had a balance of $1,000+ on this date, your loyalty program start date is December 16, 2022.
See your progress on your member dashboard.
Refer to the Reference Guide for more information.
Membership levels
Here are our seven membership levels with the reduced percentage-based admin fee. The table also shows your discount, calculated from the full percentage-based admin fee;
Year
Level
% based admin fee
Your discount calculated from the full % based fee
Normal fee:
0.9260%
0%
1
Bronze
0.9075%
-2.00%
2
Bronze Plus
0.8893%
-3.96%
3
Silver
0.8715%
-5.89%
4
Silver Plus
0.8541%
-7.76%
5
Gold
0.8370%
-9.61%
6
Gold Plus
0.8203%
-11.42%
7
Platinum
0.8039%
-13.19%
The effect of the percent sign
It is important to remember that 0.92% is very different to 0.92. These numbers are 100 times different in size. When you add the “%” symbol, the number expressed as a decimal is 0.0092.
It is important to remember that 0.92% is very different to 0.92. These numbers are 100 times different in size. When you add the “%” symbol, the number expressed as a decimal is 0.0092.
How it worked for James
James joined Professional Super after graduating from university. His super balance is $9,000 and he unlocked the Bronze discount level on December 16, 2022.
If James decides to take some time off in his career, he’ll still unlock the next level, each year on his anniversary date December 16, just by staying with the fund.
