Colonial First State Superannuation

colonial first state super

Colonial First State is a provider of investments, pension payments, and corporate and personal superannuation.

Types of Colonial First State super accounts

Colonial First State offers superannuation solutions to three main groups – members, employers and pensioners.

A corporate fund is typically arranged by an employer for their employees to use, a personal fund can be a more flexible option, and pension payments convert your super into regular income payments. There are a lot of benefits coming from being a member of a Colonial First State super fund, including:

  • Competitive investment performance
  • All profits returned to, or for the benefit of members
  • Flexible and cost effective
  • Protected online account access
  • Income streams for retired members
  • Over-the-phone financial advice
  • Total and Permanent Disability (TPD) Cover
  • Death Cover

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Eligibility to apply for a Colonial First State Superannuation account

To apply for any of the Colonial First State super funds, you must be able to satisfy the following criteria:

  • You must be an Australian resident
  • You must be over 18 years of age
  • You must be earning at least $450 before tax per month from an employer

If you are under the age of 18, but earning more than $450 before tax per month, you must be working more than 30 hours per week to qualify for super.

How to apply for a Colonial First State super fund

If you’ve satisfied the above criteria, you are eligible to apply for a super fund.  The first step in applying for a Colonial First State super account is choosing the type of membership that best suits you. Ask yourself the following questions:

  • “Am I still working, and not yet ready to retire?” – Join as a super member
  • “Am I about to retire or have already retired?” – Join as a pension member
  • “Am I contributing for employees?” – Join as an employer

Once you’ve made a decision, you can either sign up online or give them a call on 13 13 36 (Monday to Friday 8am-7pm AEST).

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Colonial First State FAQs

Yes, Colonial First State Super has a dedicated online portal for its super fund members. By clicking here, you can access statements of your savings, download super fund information and view your account balance.

Most of the time, the money in your super fund account is invested by your super fund, and Colonial First State is no different. It offers a variety of investment options including shares (global and Australian), fixed interest, property, cash and more.

It is important to take into account investment time frames, and your personal tolerance for market fluctuations when choosing an investment option. The returns from your investment directly impact how quickly or slowly your super grows.

The table above shows the total fee cost to have a Colonial First State super account per year. Compare these fees to the average super fund fees on our database.

Colonial First State offers a consolidation service for members who have super in other funds. It’s important to check with your old funds for information regarding costs such as exit fees and insurance cover. If you have any questions or concerns, give Colonial First State Super a call on 13 13 36.

Be sure to check these nine things on your superannuation statement:

  • Personal details are up-to-date
  • Nominated beneficiaries are up-to-date
  • Tax File Number (TFN) is recorded
  • Super contributions from employer and/or your voluntary contributions are correct
  • Investment asset class choices are appropriate for your life stage
  • Amount paid in fees
  • Insurance still adequate
  • Super is consolidated, after checking whether there is insurance or any other benefits attached to the account you may lose and you’re comfortable to do so
  • The big picture – are you happy with your super fund overall?

Since its introduction in 1988, Colonial First State has been helping Australians with their investment, superannuation and retirement needs. It believes that with its extensive range of products, it is more committed to providing the best possible outcomes over the long term for investors.

Colonial First State also aims to support and enhance a number of initiatives that benefit its local communities. One of these is called the Sports Boost Program, which assists local community teams and clubs and inspiring them to continue with their sporting journey in the future.

Another is the Charity Boost Program, where members have the opportunity to nominate their favourite charities to receive donations of up to $5,000.

Colonial First State FirstChoice Personal Super

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Award: 3-Star Rated Superannuation

Written by: Regina Collins | Last updated: September 26, 2017