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Latest News

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With last Tuesday’s Federal Budget, the Government looked to tackle the economic impacts of the coronavirus, bringing forward proposed income tax cuts and introducing a new wage subsidy. Somewhat unexpectedly, a package of superannuation reforms was also included. The “Your Future, Your Super” reforms could see members being “stapled” to one super fund for life. […]

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Saving and paying down debt have become national pastimes as Australia enters its first recession in nearly three decades.   Amid revelations of a record economic contraction, household spending fell by $35.2 billion in the three months to June 30 while household savings rose by a whopping $42 billion.  Fitzpatricks Private Wealth certified financial planner Randall Stout said […]

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New research from Industry Super Australia (ISA) claims industry super funds (like First Super) plan to invest $33 billion in the economy over the next five years, playing a crucial role in the country’s financial recovery from coronavirus. The planned investment is expected to stimulate business activity and create hundreds of thousands of jobs.   However, these plans could be affected if the Federal Government backflips on a legislated rise in the superannuation guarantee (SG) rate. Between now and 2025, the SG […]

COVID-19     Latest News     Newsletters     

Financial support beyond super

It can be overwhelming making financial decisions right now, especially if you’re struggling with the impacts of the coronavirus pandemic. But seeking help and taking action now can go a long way to getting things under control and, eventually, back on track.   Check out these websites and online tools for a helping hand:  MoneySmart outlines steps you can take to look after yourself and your money, including making super and investment decisions, accessing […]

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Connecting safely online

Do you know how to spot an online scam? What about how to sell your products safely online? With more of us working from home, the eSafety Commissioner is hosting free webinar presentations on a range of topics to help Australians use the internet confidently and safely. While the webinars are primarily aimed at older Australians, anyone looking to upskill or protect […]

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Following months of extreme global share market volatility, First Super’s investment options, except the cash options, achieved negative earnings for the 2019/20 financial year. The Fund’s default Balanced option for accumulation members delivered an annual return of -0.95%, and the Balanced pension option returned -1.19%. The performance tables for all five investment options for the […]

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The Federal Government’s consumer protection agency, ASIC, is reporting that fraudsters are contacting unsuspecting super members claiming to represent ASIC and offering to help them combine their superannuation accounts.  What to look out for  ASIC will never call members offering to help with consolidating (rolling in) super, and it doesn’t let anyone else act on its behalf to push financial products or services. So any call, […]