The Administration Manager will deduct a monthly management fee from your balance. This fee will be based on the number of BCF Scheme members from time to time, reducing as numbers increase (see page 15-17 of the Product Disclosure Statement (PDS)) and is currently $63.25 per year per member. The annual administration fees are fixed until 31 March 2028. If the Administrator is then re-appointed, they will be reviewed effective 1 April 2028.
The Trust Deed allows us to deduct Trustee fees from Scheme assets for our services. We do not currently charge (or propose charging) Trustee fees, though a fee is paid to our Licensed Independent Trustee director for his services. If we did impose Trustee fees, they would be subject to the KiwiSaver Act 2006 requirement that KiwiSaver scheme fees not be unreasonable. Subject to that requirement we could alter or vary them from time to time.