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;
1
If your balance falls below $1,000 for any reason in the future, you’ll still keep your discount level by staying with the fund.
2
If 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.
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.