Payment of your annual refund

How we charge for our service

We do not believe in charging you more for our service simply because you may have a larger investment or more accounts generating larger commissions.

We believe that after we have charged a fair fee for our service, 100% of the “reclaimed” commissions should be refunded back to the owners of the accounts or policies that generated them - that is you, our members. At the end of each anniversary of your membership, you will receive a refund of fees and commissions that we have “reclaimed” on your behalf.

Payment of your annual refund

On the anniversary of your membership, Super Refunds will send you a cheque equal to 50% of the first $1,000 plus 100% of the remaining balance of commissions and fees that we have “reclaimed” on your behalf. Super Refunds will only retain a maximum amount of $500 for our services - 100% of the balance of your “reclaimed” fees is refunded to you.

New personal insurance applications do not form part of your refund account for the first 12 months. Your refund is calculated the same way, and our fee is capped at 50% of the first $1,000, however is not included in your annual rebate in the initial 12 months to cover our costs in liasing with the insurance underwriters.  

Example

Situation
Brian (aged 44) had a super policy with a balance of $69,000. He was making employer and personal contributions of $8,500 to his account annually. Brian also had $487,000 life and $264,000 TPD insurance (through his super fund) as well as a separate income protection policy. This is how Brian benefit’s by “reclaiming his fees”:

Ongoing trailing commission @ 1% of balance ($69,000)                                                    $   690.00
4.5% Entry fee on additional contributions ($8,500 p.a.)                                                        $   382.50
10% ongoing commission on Life and TPD insurance premiums (1,287 p.a)                 $   128.70
10% ongoing commission on Income Protection policy premiums (1,488 p.a)                $   148.80
                                                                                                                                                            $1,350.00

Nominating Super Refunds as Brian’s broker on his super and insurance policies ensured that on the anniversary of his membership, Brian received a cheque for the amount of $850.00. This payment will occur every year and will increase as the value of his super rises.  

How much can you “reclaim”?

Ongoing trailing commission @ say 0.6% of balance ($             )                                         $
4.5% Entry fee on additional contributions ($          p.a.)                                                          $
10% ongoing commission on annual insurance premiums ($         p.a)                            $                 
Total eligible for you to “reclaim”                                                                                                  $

50% Refund on first $1,000                                                                                                          $
plus 100% Refund above $1,000                                                                                                $                  
Total fees “reclaimed”                                                                                                                    $