Keeping our members and clients up-to-date with information as it comes to hand as we all face an unprecedented challenge.
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.
27 March, 2020: Markets responded positively
On the 26 March 2020 to approved government stimulus packages. Heading into the weekend, focus will remain on the spread of the Coronavirus and any further government response.
26 March, 2020: Market volatility continues
Market volatility continues to be a key theme in global markets. Although we have seen some gains on the back of positive news of government stimulus packages, negative market movements could still be triggered by further shutdowns locally and globally, and unprecedented data announcements.
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.
22 March, 2020: An update from our Insurance team - Providing confidence in coverage
For our members who currently have insurance cover included in their super, we would like to confirm that there are no benefit exclusions for the payment of death or disability benefits as a result of a pandemic. Accordingly, this means no benefit exclusions for the payment of death or disability benefits arising directly as a result of the COVID-19 coronavirus. This currently also applies to any new members receiving automatic default cover.
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.
20 March, 2020: From our Investments team - Market update
The recent increase in market volatility has created a challenging environment for investors and the wider superannuation industry.
The spread of the coronavirus has created sudden and significant uncertainty, not to mention a lot of emotion.
to find out more on the risks of switching options during market volatility. Hear from Chief Investment Officer Damian Graham about what's causing markets to be so volatile now, and why it’s important to focus on the long term when thinking about your super and retirement.
19 March, 2020 From our Member Service Centre
We're currently receiving 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.
11 March, 2020: From our Facebook post: Market Insights with Chief Investment Officer Damian Graham.
Top of mind right now is the global spread of coronavirus infections and the market’s response. Markets like certainty, but with the spread of the coronavirus, there’s been sudden uncertainty, and a lot of emotion. How long will this last? How will it affect Australia’s economy? We’ll probably be seeing unsettling headlines for a while, but the good news is, holding a diversified portfolio helps to smooth out the bumps in the market. And taking a long-term view allows you to benefit from the power of compounding over time.
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. ↩