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Time to think ahead

First Super will soon be sending out your mid-year statement – an update on your super savings and investment performance as at the halfway point of this financial year. In the coming days, you will receive your statement in the mail, as well as your e-statement if you have selected that option. The statements include […]

The final report from the banking royal commission has shifted focus to the financial literacy of everyday Australians, and how banks may have historically taken advantage of a general lack of knowledge. It’s estimated that less than half of the country’s population has a basic knowledge of finance, and how it all works. In 2016, […]

Corporate espionage, political power plays, and the ever-present threat of climate change made 2018 a whirlwind year for stock markets, buffeting super funds and stifling their returns. The average balanced super fund option finished 2018 with a flat return, and several had month-on-month dips into negative territory. That left many fund members understandably concerned about […]

Australia’s big banks and financial institutions have broken the law and put profits before people, according to the final report of the banking system that warns “saying sorry and promising not to do it again” will not prevent history from being repeated. The damning final report of the royal commission into the banking sector has […]

Not-for-profit superannuation funds have higher returns than retail bank-owned funds over time while also being less risky, new research from Chant West has shown. Not-for-profit funds, which include industry, public sector and corporate funds, have produced average returns over 15 years for the growth option (61-80 per cent growth assets) of 7.8 per cent. Retail funds meanwhile […]

Investment update

January 2019’s investment returns provided a welcome boost to our Fund’s performance after a volatile period for share markets. The 2018/19 financial year got off to a positive start. Then followed volatility in Australian and international share markets between October and December 2018, which meant that First Super’s investments – like those of other super […]

Parliament passed new laws relating to superannuation in February, which will affect members who have inactive super accounts. The Treasury Laws Amendment (Protecting Your Superannuation Package) Bill 2018 looks to automatically consolidate (or combine) inactive low-balance members’ balances through the Australian Taxation Office (ATO) to prevent their savings from being eaten into by fees or other […]

If you’ve got nagging doubts that you could be saving more, then you’re not alone. Industry super fund-owned bank ME highlights five red flags that suggest it could be time to start squirreling away a little more, with tips to boost your savings. 1. You’re living payday to payday Who doesn’t love payday? But if […]