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First Super - Industry

Past 5-year return
8.29%
Admin fee
$173
Calculated Fees on 50k
$818
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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 Industry was established in 2008 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 offers an investment menu of Conservative Balanced, Balanced, Growth, Shares Plus and Cash options. The Balanced option outperformed the relevant SuperRatings Index over the 10 years to 30 June 2018.Fees are higher than the industry average across all account balances assessed. The calculated fee below includes an administrative reserve recovery fee of $94.88 that is deducted from the member’s investment before the crediting rate has been declared. This fee is not deducted directly from a members account, and forms part of the operational costs. The fund does not apply a buy-sell spread for investment switches, although a switching fee will be charged.First Super's insurance offering allows eligible members to apply for up to $2 million of Death and TPD cover. Income Protection is available covering up to 85% of salary with a 2 year benefit period following a 30, 60 or 90 day waiting period. 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 on their retirement needs.
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Fees & fund features

Admin fee
Admin fee
$173
Administration fee (%)
Administration fee (%)
0.05%
Indirect Cost Ratio (%)
Indirect Cost Ratio (%)
0.04%
Exit fee
Exit fee
$75
Financial planning service
Financial planning service
Credit cards
Credit cards
Insurance life event increases
Insurance life event increases
Investment fee
Investment fee
1.20%
Account size discount
Account size discount
Health insurance
Health insurance
Binding nominations
Binding nominations
Anti-detriment payments
Anti-detriment payments
Switching fee
Switching fee
$30
Employer size discount
Employer size discount
Home loans
Home loans
Non-lapsing binding nominations
Non-lapsing binding nominations
Long term income protection
Long term income protection
Admin fee
Admin fee
$173
Administration fee (%)
Administration fee (%)
0.05%
Indirect Cost Ratio (%)
Indirect Cost Ratio (%)
0.04%
Exit fee
Exit fee
$75
Financial planning service
Financial planning service
Credit cards
Credit cards
Insurance life event increases
Insurance life event increases
Investment fee
Investment fee
1.20%
Account size discount
Account size discount
Health insurance
Health insurance
Binding nominations
Binding nominations
Anti-detriment payments
Anti-detriment payments
Switching fee
Switching fee
$30
Employer size discount
Employer size discount
Home loans
Home loans
Non-lapsing binding nominations
Non-lapsing binding nominations
Long term income protection
Long term income protection
Fund fees vs. Industry average
Fund past-5-year return vs. Industry average
Investment allocation
Investment option performance
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Features
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FAQs

You can withdraw your superannuation when you meet the ‘conditions of release’. The conditions of release say you can claim your super when you reach:

  • Age 65
  • Your ‘preservation age’ and retire
  • Your preservation age and begin a ‘transition to retirement’ while still working

The preservation age – which is different to the pension age – is based on date of birth. Here are the six different categories:

Date of birth Preservation age
Before 1 July 1960 55
1 July 1960 – 30 June 1961 56
1 July 1961 – 30 June 1962 57
1 July 1962 – 30 June 1963 58
1 July 1963 – 30 June 1964 59
From 1 July 1964 60

A transition to retirement allows you to continue working while accessing up to 10 per cent of the money in your superannuation account at the start of each financial year.

There are also seven special circumstances under which you can claim your superannuation:

  • Compassionate grounds
  • Severe financial hardship
  • Temporary incapacity
  • Permanent incapacity
  • Superannuation inheritance
  • Superannuation balance under $200
  • Temporary resident departing Australia

 

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