Keeping our members and clients up-to-date with information as it comes to hand as we all face an unprecedented challenge.
1 June, 2020: An update on insurance through super
For our members who have automatic default insurance cover included in their super, we would like to confirm that there are no exclusions for the payment of death or disability insurance benefit as a result of a pandemic.
13 May, 2020: Global stocks were upbeat particularly in the US
This last week was characterised by a more upbeat mood and stocks moved higher across globe, particularly in the US.
8 May 2020: Our fund is in a strong position to meet your needs
Chief Investment Officer Damian Graham talks about what we’re seeing in investment markets, our strong position as a fund, and what this means for your super and retirement savings.
27 April, 2020: US stock markets rose on Friday as investors were positive about economies re-opening
Global investors were positive on Friday with US stock markets rising on re-opening
21 April, 2020: What you need to know about accessing your super early
The Government is allowing eligible Australians to access their super early if they’ve been severely financially impacted by COVID-19. There are a number of things to consider before applying. Most importantly, you need to check the current balance on your account so you know how much you can withdraw. The best way to check your current super balance is with your super fund directly – with us that’s through the app or by logging into your account online. The amount displayed on MyGov will be your balance as at 30 June 2019, which will be incorrect.
For more information on early access to super read our and article.
20 April, 2020: Global stock markets rose last week on hopes a COVID-19 vaccine will emerge
Global investors were upbeat on Friday, with Asia’s positive mood flowing through to Europe and the US.
17 April 2020: Coronavirus to cause the sharpest economic downturn of our lifetime
Markets started 2020 with a sense of optimism the spread of COVID-19 quickly disrupted this upbeat outlook. We’re now looking at the sharpest economic downturn since the Great Depression of the 1930s. What happened in the first three months of the year? And what’s ahead for us now?
16 April 2020: Minimum pension limits reduced to help preserve retirement savings
The Government is temporarily reducing the superannuation minimum drawdown requirements by 50%, as part of its Coronavirus Stimulus Package. Members with a Retirement Income Stream account (RIS) or a Transition to Retirement Income Stream account (TRIS) will have their minimum drawdown payment limits halved for the 2019-20 and 2020-21 financial years.
8 April, 2020: COVID-19 and accessing super early
The Government is allowing eligible people, experiencing financial stress due to COVID-19, to access up to $20,000 of their superannuation early. While we understand that the measure is designed to support people in financial hardship, there are some unintended consequences for your super balance and insurance to consider.
1 April, 2020: We’ve launched a new webinar super series to continue to support you.
Our first topic, Investing in uncertain times, will cover how super has been affected by the recent market volatility and what your options are.
Members and non-members are welcome to join our free 30-minute session.
Security announcement: We would never contact you to ask you for the password to your super account. Please do not share your password with anyone and be very cautious about emails or calls you receive about early access to your super.
25 March, 2020: Message from our CEO, Deanne Stewart
25 March, 2020: Your investments questions answered
In this series of videos our CEO, Deanne Stewart talks to our Chief Investment Officer who provides an update on what we're seeing in the markets, what this means for your super and how the investments team is responding.
23 March, 2020: Essential information from the Australian Government
The Government announced a further $66 billion coronavirus stimulus package, which included access to superannuation.
1. The Government will allow people in financial stress to access up to $10,000 from their superannuation this financial year (2019-20) and up to $10,000 in the next financial year (2020-21).
2. There will be a be a temporary 50% reduction in superannuation minimum drawdown requirements for account-based pensions in 2019-20 and 2020-21.
These changes were legislated today and it is expected that this will take place during this week.
Superannuation is designed to be a long-term investment. Choosing to access your super early should be an informed decision and take into account your personal and financial circumstances. Withdrawing super savings during periods of extreme volatility could crystallise losses and could leave members with low balances once the markets start to recover.
23 March, 2020: Frequently asked questions about market volatility
The recent spike in market volatility has created a challenging environment for our members, investors and the wider superannuation industry. Many concerned members are calling us with questions. However, this is creating extended waiting times.
20 March, 2020: Office closure information
The health and well-being of our members and our team are our priority.
With the evolving situation regarding COVID-19, and in response to the government’s recommendations around social distancing, our offices are closed for walk-in support temporarily. We are able to support you via our phone channels and online member portal.
We continue to receive a high volume of calls and experiencing extended wait times. Your calls are important to us and we apologise for any inconvenience this may cause and appreciate your patience and understanding.
19 March, 2020: Changes to Public Seminars: All First State Super seminars being held between the 17th of March and the 30th of April have been cancelled.
We recognise that there is increasing concern regarding the global Coronavirus pandemic. Given advice from the Australian Government over the weekend, we have made the decision to cancel all face-to-face seminars from today until the 30th of April.We will keep you informed of progress of the face-to-face seminars and will have more information in the coming weeks about our new webinar program.
Past performance is not a reliable indicator of future performance. This information has been prepared by First State Super Investments on behalf of FSS Trustee Corporation ABN 11 118 202 672 AFSL 293340, trustee of the First State Superannuation Scheme ABN 53 226 460 365. ↩