How your account works

When you become a member of First State Super, a super account is set up in your name. 

While you're working, your super account has money coming in and going out.  Money comes in from a number of different sources – from you, from your employer, from  your spouse and maybe even from the Government if you’re eligible for the Government co‑contribution. Meanwhile taxes, fees, insurance premiums and eventually the withdrawals you make from your super are deducted from your account. 

Please note that transactions will usually be processed and units allocated within 5 working days of receiving both the money and the necessary contribution details. The number of units allocated is calculated by dividing the transaction amount by the unit price applicable on the day of processing. 

How do I know how much super I have?

You can check your account details online (including your account balance) at any time via the First State Super website. You’ll need your login details and password to use the online service.

Combining multiple accounts within First State Super

Sometimes more than one superannuation account can be set up for the same member unintentionally, especially when members change employers.

To help combat the unnecessary fees and other issues multiple accounts may cause, First State Super’s policy is to combine these accounts where we believe it to be in the best interests of the member.

In deciding what is in a member’s best interest, we consider information like the differences in insurance, beneficiaries, investment options and fees. 

Matched multiple accounts are combined at no charge to members every financial year.  We do not require  member permission to complete the process and within 30 days of combining the accounts, a notification mailed to the member and a note is placed on their secure online account.

The above process only affects accumulation accounts.  If you have more than one income stream (pension) account or a combination of accumulation and income stream accounts, you income stream account(s) will not be combined.

If you have more than one accumulation account with First State Super and wish to maintain them separately, you can instruct us not to combine your accounts. For details call Customer Service on 1300 650 873. 

More information

Please read our fact sheet How your super account works