My super fund keeps raising its fees

By George Cochrane
Updated January 26 2018 - 9:53am, first published December 9 2017 - 5:47pm

I am in an allocated pension fund with NSW StatePlus. I retired in 2009, having paid into SASS for 20 years. This year I was concerned to see that the service fee has doubled from last year, having changed over the past three years thus: 2015 - $1442; 2016 - $1316; 2017 - $2687 (product services $1252.52 and advice services $1434.69). As I am paid a pension of $10,500 a year with a lower investment return, plus an increased fee, I am concerned about the result. I requested that I do not use the advice services but was told that I would not be able to remain in this plan. Can you suggest a better fund that I would be able to join or how I can reduce the high fees or better invest the capital? I have only $190,814 across a number of options. M.C.