Reporting Form SRF 706.0

Fees and Costs Disclosed

Instruction Guide

This instruction guide is designed to assist in the completion of Reporting Form SRF 706.0 Fees and Costs Disclosed (SRF 706.0).

General directions and notes

Reporting level

SRF 706.0 must be completed for each superannuation product, investment menu and investment option within each RSE, defined benefit RSE and eligible rollover fund (ERF) within its business operations excluding the following:

investment options which are permitted to be aggregated in Table 3 of Reporting Form SRF 605.0 RSE Structure (SRF 605.0);
investment options which solely underlie defined benefits;
investment options which are reported on SRF 605.0 under investment option category Annuity;
products which are reported on SRF 605.0 under the Superannuation Product Category Type of ‘Insurance Only’ or ‘Whole of Life or Endowment’; and

investment options which solely underlie products with the Superannuation Product Category Type of ‘Insurance Only’ or ‘Whole of Life or Endowment’.

Report fees and costs for the superannuation product, investment menu or investment option at which they arise or are incurred.

RSE licensees need to determine the appropriate reporting level for each of the applicable fees and costs depending on the structure of the RSE, defined benefit RSE and ERF.

Fees and costs may be incurred at each RSE structure level, but may vary depending on the combination of RSE structure levels a member is in.

For example, it is expected that administration fees will generally be reported at a superannuation product level, platform fees may sometimes be reported at the investment menu level, while investment management fees will generally be reported at the investment option level. The investment management fee for an investment option may vary depending on which superannuation product the member is invested through.

Where the fee or cost is applicable to all members in the RSE structure level, the RSE licensee must report data for that RSE structure level and report ‘ALL’ for the remaining RSE structure levels.

Where the fee or cost varies depending on the combination of RSE structure levels, the RSE licensee must report data for each relevant combination of superannuation product, investment menu and investment option.

For example, an administration fee that applies across all investment menus and investment options within a superannuation product would be identified with the relevant superannuation product identifier to which it applies. The investment menu identifier and investment option identifier would be reported as ‘ALL’.

Reporting tables