First State Super is an industry fund that has been providing superannuation services to NSW public sector employees since 1992, with membership also open to the general public. The Flexible Income Plan commenced in April 2013 and is offered by First State Super as a result of the Successor Fund Transfer of the StatePlus Retirement Fund on 1 July 2019. A minimum initial investment of $20,000 is required to be eligible for membership. The Flexible Income Plan offers a simple investment menu, consisting of 4 Diversified and 4 Single Sector options, as well as a non-unitised fund, the Fixed Term Fund. The Balanced Fund outperformed the SuperRatings Index over the year to 30 June 2019; however, underperformed over the longer term.Fees associated with this product are lower than the industry average across all account balances assessed. Members can switch between investment options at no cost.A reasonable level of flexibility is available through the Flexible Income Plan, with members able to select from 5 pension payment frequencies and payments made on a date specified by the fund. Members with more than one investment option can nominate the proportion of, or order in which, payments are to be drawn from each option. If members do not select a drawdown strategy, pension payments will be taken according to growth assets, with the more conservative options being drawn down first.Additional benefits available include access to advice services, seminars, high quality educational material, as well as the ability to view account details and perform transactions online.

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