First State Super

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First State Super Personal Division

As a member of the public sector’s First State Super industry fund you’ll find some of Australia’s most popular managed funds within the 12 funds available. 

Key Points

  • 5-year growth of 9.40% 
  • Exceptionally low $52 administration fees
  • Choose from 12 managed super funds 
  • Financial services and general advice available

First State Super’s Product Offering

Australian’s looking to First State Super’s Personal Division have a number of different superannuation fund products to choose from that extend from the Employer Sponsored Division to the MySuper Life Cycle and the Personal Division. All of which feature the fund’s ultra-low $52 administration fees and an annual fee of $527 on a $30k balance. This makes the fund a great retirement savings option for those who are looking to pair low fees with relatively high long-term growth. 

The First State Super Fund features include: 

  • iPhone support for daily updates and fund management
  • All the benefits of larger super funds with lower costs
  • A range of info packets, fact sheets and financial advice for those looking to improve investments
  • A waived switching fee on 1 investment per year
  • Included insurance cover, life insurance and health super

First State Super Employer Sponsored Division 

  • 5-year returns of 9.40% 
  • Administration fees of just $52 
  • Annual fees of $527 on account balances of $30k

Key features 

  • Financial advisory services
  • Included income protection
  • Easily online and mobile access
  • Death insurance

First State Super Personal Division

  • 5-year returns of 9.40% 
  • Administration fees of just $52 
  • Annual fees of $527 on account balances of $30k

Key features 

  • Financial advisory services
  • Included income protection
  • Easily online and mobile access
  • Death insurance

Joining First State Super’s Personal Division

The easiest way to get started with joining the First State Superannuation Scheme is to either apply online or call the fund on 1300 650 873. 

When compared the process of other fund’s the First State Super process might be a little more complex. You’ll need to make sure that you have your employer provide you with a Choice of Super Fund form that you can sign and return to them to move the process forward. 

We also suggest that you go over the company’s PDS or product disclosure statement to ensure that you know exactly the process that’s about to unfold and what you’ll be signing up for in the long and short terms. Remember to compare other super funds on Extras to ensure you’re choosing the most suitable option for your employment and retirement goals. 

First State Super’s Investment Options

When you open an account with FSS you have a range of investment options to choose from that include pre-mixed options as well as single class asset options. These are either chosen for you to maximise retirement income or boost investment returns – or you can select which option you’d prefer on your own. 

The options outlined by First State Super are: 

MySuper Life Cycle Growth and MySuper Life Cycle Balance Growth

These options are designed to offer maximum growth in the long term of around ten years and are the most suitable and effective investment options for those younger than their 50s. These options are specifically designed to grow rapidly, though come with some risk and minor volatility. 

Diversified Socially Responsible Option

This option is a pre-mixed investment option that’s comprised of a range of equities from both Australia and international vendors which ensures environmental aspects are taken into consideration. 

Conservative Growth Options

For those who have retired or are nearing retirement, this strategy or investment option is designed to slow down growth and reduce volatility to prepare a super account to be accessed in the near future. 

About The Fund

First launched back in 1992, First State Super is a NSW-based non-profit that was originally designed to provide a retirement fund option for government employees in Sydney. However, in 2006 the fund opened its services to all Australians and now has a little under a million Australians enrolled – making the company one of the country’s largest super funds. 

For Australians who are wary of investing in funds that invest in mining and other rather negative industries, you should know that FSS is a rather progressive fund when compared to most other retirement funds. The super fund often investments in literacy programs as well as supports Women and Super which is a program that provides women with the information needed to better grasp their super funds. 

FSS also funds scholarships for teachers that allow them to learn the fundamentals of financial services and public sector super funds in order to better teach these to students. 

Environmental considerations are also heavily on the minds of the fund’s executives with a major focus on partnering with eco-friendly corporations and always taking the time to thoroughly vet traditional fossil fuel mining companies. 

To conclude, the fund is also an active supporter of local communities and fundraisers across the country. The famous Mother’s Day Classic fun run is sponsored by First State Superfund. The company’s chief executives have also moved to support Student Edge and have provided financial support to students who need it most.

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