Latest News
Workers received no pay rise after the last SG hike was scrapped: ISA
November 16th, 2020
Freezing the superannuation guarantee (SG) in 2014 failed to deliver higher wages for workers and could cost the average full-time worker $45,000 at retirement, according to new research. Months after Prime Minister Scott Morrison said he would “carefully consider” whether to go ahead with the legislated plan to lift the SG as scheduled in July 2021, Industry […]
First Super is a double award winner for member communications
November 4th, 2020
First Super has won two 2020 Australian Marketing Institute (AMI) awards at a virtual award ceremony. In its 39th year, the awards for “Marketing Excellence” celebrate individuals and organisations Australia-wide who demonstrate success through innovative and effective marketing. First Super was the recipient of two state awards for its “Don’t be crazy! Find your lost super” […]
What could the 2020 Budget changes mean for your super?
October 12th, 2020
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. […]
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 […]
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 […]
Connecting safely online
September 15th, 2020
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 […]
Investment update: 2019/20 performance
September 1st, 2020
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 […]