Time to enjoy
Keep an eye out for your Annual Statement
September 25th, 2020
First Super will soon be sending out your annual member statement. The pack will have full details of your super account, investment performance, and any insurance benefits for the 2019/20 financial year. You’ll also receive a Full-Time newsletter with a message from CEO Bill Watson and other useful updates. During October, you will receive your […]
Australians caught out by electricity bill jargon could pay hundreds in added costs
September 25th, 2020
Households struggling with rising energy bills are paying more than they should be for their electricity. By not reading up on the finer details of their bills they are often paying avoidable charges and excessive fees, a new report warned. And with more Australians tipped to work from home well into summer – when the […]
It’s spring! Time to clean up your personal finances
September 25th, 2020
September usually heralds the start of warmer weather, longer days and a seasonal clean-out of our homes. But beyond whipping out a duster in a show of springtime TLC, money experts say the same approach can be applied to personal finance. Finder money specialist Taylor Blackburn said polishing up an assortment of financial staples can […]
Grow your super with a government top-up
September 25th, 2020
If you earn below $54,837 a year, you could be eligible for a super co-contribution of up to $500. It’s a great way to grow your super without having to do it all yourself. Here’s how it works. The Government Co-contribution Put a little extra money into your super before the end of the financial […]
How to pay down debt in a recession
September 24th, 2020
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 […]
Could raising SG help rebuild the economy?
September 21st, 2020
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 […]
Government changes affecting retirees
September 16th, 2020
On 1 May 2020, the Federal Government made changes to deeming rates and pension drawdown limits as part of its economic response to the coronavirus pandemic. We would like to remind you of what’s changed so you can ensure your First Super pension account is set up to meet your current needs. Lower deeming rates for income test The Government lowered the deeming […]
Financial support beyond super
September 15th, 2020
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 […]