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Pros and Cons
- 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.
First Super was established to service the retirement needs of members employed within the timber, furniture and paper industries. The fund is a public offer fund and allows members from all industries to apply for membership. First Super Allocated Pension requires a minimum initial investment of $10,000 to commence membership.First Super offers an investment menu of 4 Diversified options and a Cash option. The Balanced option outperformed the relevant SuperRatings Index over the 5- and 7-year time periods to 30 June 2020; however, underperformed across other time periods.Fees are lower than the industry average across all account balances assessed. The fund does not apply a buy-sell spread, while the switching fee is nil for the first two switches each year and $30 for any subsequent switches.First Super Allocated Pension offers good pension flexibility, with members able to select from fortnightly through to yearly payment frequencies. Members may also select from binding and non-binding death nominations, as well as reversionary pensions.Members have access to a range of educational materials and financial planning services, as well as discounted banking products through ME Bank. The fund regularly conducts information seminars to ensure members are well informed.
First Super Fees and Features
Fund fees vs. Industry average
Fund past-5-year return vs. Industry average
Investment option performance
Past 5-year return
Calc fees on 50k
Variety of options
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