First State Super MySuper Life Cycle
- Last updated on 03 Jul 2020
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 fund was nominated as a finalist for the 2020 MySuper of the Year award, as well as the 2020 Best New Innovation award for Explorer.The fund's MySuper Life Cycle Strategy has a different mix of assets depending on a member's age, with members aged under 60 invested in the Growth option and then automatically switched to the Balanced Growth option upon reaching age 60. The Growth option outperformed the relevant SuperRatings Index over each time period assessed to 30 June 2019. Choice members have access to an investment menu comprising 5 Diversified and 7 Single sector options, including 2 Socially Responsible options.Fees are lower than the industry average across all assessed account balances. Members are able to switch investment options at no cost. A full suite of insurance cover is offered, with Death and Total & Permanent Disablement (TPD) insurance cover automatically provided to eligible members upon joining the fund. Members can apply for unlimited Death cover and up to $5 million of TPD cover and can also apply to increase cover following the occurrence of a prescribed Life Event without additional underwriting. Income Protection (IP) is available up to 85% of salary and with a choice of 14, 30, 60 or 90 day waiting periods and benefit payment periods of 2 years, 5 years or to age 65. Additional benefits available include access to free simple advice, comprehensive advice services, quality educational programs, interactive tools and calculators, including Explorer, as well as the ability to view account details and perform transactions online.
Admin fee $52 | Health insurance |
Administration fee (%) 0.15% | Binding nominations |
Indirect cost ratio (%) | Anti-detriment payments |
Exit fee $0 | Switching fee $0 |
Financial planning service | Employer size discount |
Credit cards | Home loans |
Insurance life event increases | Non-lapsing binding nominations |
Investment fee 0.8% | Long term income protection |
Account size discount |
Fund fees vs. Industry average
Fund past-5-year return vs. Industry average
Investment allocation
Investment option performance
Product | Past 5-year return | Admin fee | Company | Calc fees on 50k | Features | SuperRatings awards | Go to site | |
|---|---|---|---|---|---|---|---|---|
5.63% | $52 | First State Super MySuper Life Cycle | $527 | Advisory services Death insurance Income protection Online access Term deposits Variety of options |     | More details | ||
5.63% | $52 | First State Super Employer Sponsored Division | $527 | Advisory services Death insurance Income protection Online access Term deposits Variety of options |   | More details | ||
5.63% | $52 | First State Super Personal Division | $527 | Advisory services Death insurance Income protection Online access Term deposits Variety of options |  | More details | ||
4.28% | $52 | First State Super - Tailored Super Plan | $442 | Advisory services Death insurance Income protection Online access Term deposits Variety of options |  | More details | ||
3.62% | $52 | First State Super - Personal Retirement Plan | $452 | Advisory services Death insurance Income protection Online access Term deposits Variety of options |  | More details |
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