Starting today, FairVine super’s “FairGo” policy will slash administration investment management and indirect fees to 0.6 per cent until the end of 2020, saving members with a $100,000 balance, $450 during the next eight months.

FairVine Super executive chair Sangeeta Venkatesan said it was an important initiative that will help members during a time of need.

“There is a lot of uncertainty right now, particularly when it comes to superannuation. Pair this with an abundance of people losing their jobs, and it’s clear that every extra dollar counts. 

“We’re not simply deferring fees for six months – we’re waiving 50 per cent of the fees altogether. With the federal government now granting early access to super for those affected by COVID-19, we thought it was important to balance this with an initiative enabling people to put money back into their super fund,” she said. 

Ms Venkatesan said that as a super fund designed for women, this was a necessary measure, given the huge impact COVID-19 has had on the female population. 

“We know COVID-19 has had far-reaching consequences on women. They’re on the front line fighting this virus, with two-thirds of the global health workforce being female. They also make up the majority of carers, teachers and childcare workers – all of whom have had their livelihoods threatened.” 

“Women are also more likely to be casual workers, hence don’t have access to sick leave entitlements, and they’re typically the first on the chopping block when job cuts are required. Further, when children have to stay home from school, women are often the ones expected to look after them and undertake home-schooling. Women are feeling an enormous amount of pressure, and it’s our hope that this small measure can give them one less thing to worry about,” she said. 

About the author

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

About the author

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

more on this topic

Superannuation

Payday super reform hailed as transformative win for Australian workers

In a significant shift for Australia's retirement savings landscape, the introduction of the Payday Super regime on Wednesday, 1 July, marks a transformative change in how superannuation payments are ...Read more

Superannuation

Many Australians to miss out on EOFY super boost due to affordability and knowledge gaps

As the end of the financial year looms, a significant number of working Australians are poised to miss out on the chance to enhance their superannuation savings. A recent survey commissioned by global ...Read more

Superannuation

Aware Super restructures leadership as Ian Pendleton steps down

In a significant leadership reshuffle, Aware Super is bidding farewell to its long-serving Group Executive Legal and Company Secretary, Ian Pendleton, as he steps down from his executive role after 14 ...Read more

Superannuation

Half of Australians unaware of impending superannuation law change set to impact millions

In a surprising revelation, a recent study has highlighted a significant knowledge gap among Australian workers regarding a major superannuation reform set to affect over 1.2 million people from 1 ...Read more

Superannuation

Rest strengthens investment strategy with seasoned executive appointment

In a strategic move to bolster its investment strategy, Rest, one of Australia's largest profit-to-member superannuation funds, has appointed Andy Moser as the Head of CIO Office. This newly created ...Read more

Superannuation

NGS Super strengthens leadership with appointment of new Chief Member Officer

In a strategic move to bolster its member growth and experience transformation, NGS Super has appointed Adam Parsons as the new Chief Member Officer (CMO). Effective from 1 June 2026, Parsons will ...Read more

Superannuation

Aware Super triumphs at Chant West Super Fund Awards with top honours

In a significant achievement for Aware Super, the fund has clinched top honours at the Chant West Super Fund Awards, securing both the Super Fund of the Year and Pension Fund of the Year titlesRead more

Superannuation

NGS Super rolls out enhanced member advice services with a focus on accessibility

In a significant move to make financial advice more accessible, NGS Super has unveiled an enhanced suite of member advice services, featuring a new digital advice platform. This initiative aims to ...Read more