First State Super MySuper Life CycleInformation shown is for the balanced option.
What the Researchers Say:
A "best value for money" superannuation fund. Well balanced across all key assessment criteria in a robust, secure and proven risk framework. The fund provides features that should assist most individuals to meet their retirement savings goals.
You should contact your financial adviser or this fund before making an investment decision.
|Balance||This Fund||Industry Average||Difference|
Fees & Charges
|Administration Fee ($)||$52|
|Administration Fee (%)||0.15%|
|Account Size Discount||No|
|Employer Size Discount||No|
|Financial Planning Service|
|Non-lapsing Binding Nominations|
|Insurance Life Event Increases|
|Long Term Income Protection|
About this Fund
|Target Market||NSW Government|
|Offered to Public?||Yes|
Fund Highlights - provided by First State Super MySuper Life Cycle
Investment Option Performance
|Asset Allocation Category||FYTD||FY 2015||FY 2014||FY 2013||FY 2012||FY 2011||Comparison|
- Outperformed average
- Underperformed average
- Negative returns
Annualised figures are the average per year returns of the rated option based on the cumulative returns for the past 5 years to 30/06/2015, past performance is not a reliable indicator of future performance. Performance and fee data is based on the option which is rated by SuperRatings and stated on each product's landing page.
Benchmark investment information - how performance is measured
To ensure comparability for consumers, the RateCity superannuation comparison is based on the asset allocation of each of the MySuper/Pension products, irrespective of the name of the investment option. This methodology allows consumers to compare products on a like for like basis and removes any ambiguities associated with the name of the investment option. For example, an investment option may be classified as growth, however its asset allocation may in fact mean it should be classified as high growth. By using the asset allocation as the dominant identifier, we believe this provides the most robust framework for consumers to compare funds and recognise that this is a consistent approach to that of SuperRatings methodology.
Percentage of Growth Assets
What the researchers say
First State Super is an industry fund that has been providing superannuation services to NSW public sector employees since 1992. First State Super became public offer in 2006. First State Super is recognised as having one of the best MySuper Products in the industry, as evidenced by its 11th consecutive Platinum rating and its nomination as a finalist of the 2016 MySuper of the Year Award.
The investment strategy for First State Super MySuper is an actively managed, life cycle based option that invests in the fund's Diversified option up to age 59, with members then switched to the Balanced option. The performance of the Diversified option has been competitive compared to the SuperRatings Index over the long term. Choice members have access to 10 additional investment options.
Fees for the Diversified option are well below the industry average across all account balances assessed. Ongoing costs are low, although switching and exit fees apply.
First State Super's insurance offering is rated as good for Death only cover, average for Death/TPD cover and excellent for Income Protection (IP) cover. The fund offers AAL levels of $1 million for Death only, and Death/TPD cover. IP is available with 2 year, 5 year or to age 65 benefit periods, with a choice of a variety of waiting periods ranging from 14 days to 90 days.
First State Super operates several member centres around Australia, allowing members to engage with the fund in their local area.