Fees and Costs
Even though ACIRT is run totally in the interests of its members, costs are incurred in running the fund. ACIRT’s expenses include:
- Administration costs we pay to our external administrator, Australian Administration Services (AAS). We pay AAS a weekly fee per member with a positive account balance.
- Salaries and other costs incurred in employing our staff.
- Fees paid to directors (or their sponsoring organisations) as well as the costs they incur in attending Board meetings.
- Fees paid to advisors such as the investment advisor, solicitors and the tax agent.
- Other costs such as paying for IT infrastructure and paying the external auditor.
As the investments are held through managed investment trusts, investment management fees are deducted before distributions are paid to ACIRT.
All the costs above are borne by the Fund as a whole, not borne by individual members.The only costs borne by individual members is if you elect to have your benefit paid to you by electronic funds transfer, which is currently $6.
You can find out how much is it is costing us to run the fund in our Annual Report, or if you want more detail, in our audited financial statements on which are under the Trust tab.