Hidden fee audit

Most super statements quote one fee. There are usually four: admin fixed, admin %, investment fee, indirect cost ratio (ICR), and transaction costs. Add them all and see the compounded damage.

Built on 2025-26 ATO rates · Last reviewed April 2026

Current balance

Salary

Years invested

yrs

Annual return (gross)

Admin — fixed $/yr

Often shown on your statement

Admin — % of balance

Frequently capped, but check

Investment fee

Quoted in the PDS for your option

Indirect Cost Ratio (ICR)

The fee that's NOT in the headline number

Transaction costs

Buy/sell spread, brokerage, taxes inside the fund

Total % fee load

0.9%

What you actually pay each year

Compounded fee drag

$173,792

Lost over 25 years vs zero-fee scenario

Final balance after fees

$958,668

vs $1,132,460 fee-free

The hidden number

$173,792

That's the size of the retirement boat your fees will be charging interest against. ICR + transaction costs are the two most commonly missed.

Where to find these. The PDS and the Target Market Determination (TMD) for your investment option will list them. The headline rate on your statement usually only includes admin + investment fee. ICR is RG97 territory — required disclosure but rarely highlighted.

Opens straight into Excel, Numbers or Google Sheets

Where these numbers come from

Keep reading

Choosing a super fund →

General information only — not financial advice. Super decisions are long-term; verify with a licensed adviser.