Time to invest
Fees changes
February 26th, 2020
From 1 April 2020, two of the fees we charge for administering your super account are changing. The administration fee for accumulation members only will rise on 1 April from $1.50 to $2.25 per week. The asset fee is also increasing from 0.05% a year to 0.18% a year. This is the first rise in […]
Investment update: the year so far
February 26th, 2020
With share markets mainly buoyant in the first half of 2019/20, First Super’s investment options fared well, with our Balanced option – in which most members are invested – achieving 3.59% for the six–month period. The 2019/20 financial year got off to a positive start in July with interest rate cuts in major economies, including Australia and, for the first time in […]
Changes to insurance in super laws – what you need to know
February 26th, 2020
One of your First Super membership benefits – unless you cancel it – is automatic cover for four units of Death and Total and Permanent Disablement (TPD) insurance. This cover provides some financial protection should you no longer be able to work due to illness or injury, or in the event of your death. The […]
Choose your beneficiaries
February 26th, 2020
Super benefits are treated separately from your other assets and don’t automatically go to your estate (as part of your will) in the event of your death. First Super must follow superannuation and tax laws to decide who is eligible to receive any super and insurance payments (i.e. your beneficiaries). To enable us to do […]
5 signs your finances need an overhaul in 2020
February 26th, 2020
Money problems can creep up us on gradually – industry super fund-owned bank ME shares five key indicators that you could be heading into financial stress in 2020 and tips on what you can do to avoid it. 1. Your bank account is frequently overdraw If your account regularly dips into a negative balance, review […]
Coming soon: your mid-year super update
February 26th, 2020
Now that our six-month investment returns have been confirmed, the 2019/20 mid-year statements have been produced and are scheduled to arrive in mailboxes by 1 March. This statement provides an overview of your super balance, contributions and investment returns as they stood at the halfway point of the financial year. In your statement pack, you’ll […]
How to stretch a dollar over summer
December 17th, 2019
Industry super fund-owned bank ME shares a few ideas on how to enjoy summer while keeping your finances in great shape. The sun is shining, the days are longer and opportunities for get-togethers are everywhere. Check out ME’s affordable ways to relish the fun so you can head into autumn without a burnt-out budget. 1. […]
Federal Government announces more changes to insurance inside super
December 17th, 2019
We need to share another important update on new Federal Government laws that came into effect from 1 November 2019 and which may impact you if you have insurance inside super with us or any other fund. Super account balance below $6,000? Your cover is at risk of being cancelled on 1 April 2020. Like […]