What the Researchers Say:

A "reasonable value for money" fund that is performing well in a number of assessment areas but with average or below average features and/or performance in a number of other areas of our assessment.
You should contact your financial adviser or this fund before making an investment decision.

  • MySuper Silver
Fund data valid as of July 31, 2016

Typical Fees

Balance This Fund Industry Average Difference
5k $124 $156 -$32
50k $533 $627 -$94
100k $988 $1,155 -$167

Investment Allocation

Intl shares 17.0%
Aus shares 22.0%
Property 10.0%
Alternative 18.0%
Fixed interest 29.0%
Cash 4.0%

Fees & Charges

Administration Fee ($) $78
Administration Fee (%) 0.05%
Investment Fee 0.86%
Switching Fee $30
Exit Fee $75
Account Size Discount No
Employer Size Discount No

Fund Features

Financial Planning Service
Health Insurance
Home Loans
Credit Cards
Binding Nominations
Non-lapsing Binding Nominations
Insurance Life Event Increases
Anti-detriment Payments
Long Term Income Protection

About this Fund

Membership 71,116
Total Assets $2,301,737,349
Year Started 2013
Target Market Timber, Furniture & Paper Ind.
Offered to Public? Yes
Fund Type Industry-MySuper

Fund Highlights - provided by First Super - MySuper

No minimum initial investment.
Low fee structure.
Regular free employer and employee seminars
Financial planning service offered.
Members are given access to low cost banking products such as credit cards and home loans.
2 free switches per financial year.
Death, Total and Permanent Disablement and Income Protection insurance available.

Investment Option Performance

Asset Allocation Category FYTD FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 Comparison
Balanced 2.51%
  • Legend:
  • 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.

Option Type Percentage of Growth Assets
min-max %
High Growth 91-100%
Growth 77-90%
Balanced 60-76%
Conservative Balanced 41-59%
Capital Stable 20-40%
Secure 0-19%

What the researchers say

First Super was established in July 2008 as a result of the merger between the Timber Industry Superannuation Scheme (TISS), the Furniture Industry Retirement Superannuation Trust (FIRST) and the Pulp & Paper Workers Superannuation Fund (PPWSF). The fund is focused on workers in the timber and furniture industries, however membership is open to all Australian residents and the Fund is MySuper authorised.

The default First Super MySuper option is a rebadged version of the existing Balanced option. The Balanced option has underperformed the SuperRatings Index in the short and long term. Choice members also have access to an additional 3 Diversified options and a Cash option.

Fees are competitive and lower than the industry average across all account balances assessed. Fees apply for withdrawals and investment switches, however members can make 2 free investment switches per year.

A full suite of insurance is available to members. Automatic Death & TPD cover of 4 units is provided to all members, with the amount dependent on their age. Income Protection (IP) insurance covers up to 85% of salary, with a choice of 30, 60 or 90 day waiting periods.

Discounted banking products and financial planning services are available and First Super provides members with the ability to view account transactions through the firstonline facility.

Other Funds Promoted