First Super Superannuation

First Super

First Super is a specialist provider of superannuation and account-based pension products for all Australians, although it has strong links to employees of the furniture, joinery, paper and timber industries.

Types of First Super accounts

First Super offers three retirement-related products to choose from:

  • Corporate super arranged by an employer for their employees to use
  • Personal super available for individual employees
  • Account-based pension converts superannuation into regular income payments for retirees and workers in the transition to retirement (TTR) stage

There are a lot of benefits available to First Super members who have a personal super account, including:

  • Competitive investment performance
  • Flexible investment options
  • No establishment fees and low administration fees
  • Insurance in super available for death cover (life insurance), and total and permanent disability (TPD) cover
  • Over-the-phone financial advice available
  • Easy online account access
  • Access to ME Bank’s Member Benefits Program, which includes low rate home loans, credit cards and everyday accounts

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Eligibility to join First Super

To sign up for a superannuation account with First Super, 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/month before tax from an employer

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

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How to join First Super

If you satisfy all of the above eligibility criteria, then you can apply to join First Super. You can sign up for a First Super account by clicking on its products in Canstar’s superannuation comparison tables and then sign up online on its website, or call 1300 360 988 (available Monday to Friday between 8 am and 6 pm).

Be sure to compare super funds on the Canstar website and check our choosing a super fund checklist before signing up for a particular superannuation account:

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First Super FAQs

Yes, First Super has a dedicated online portal for its super fund members. You can view your account balance online, access statements for your account, download super fund information and more. Access the online portal here.

The money in your First Super account is invested by your super fund. It offers a variety of investment possibilities including pre-mixed, sector and direct investment options.

When choosing an investment option, it is important to take into account your investment time frames and goals, and your personal risk tolerance for market fluctuations. Learn more about how to choose between different investment options on the Canstar website.

The table above shows the total fee cost per year to have a super account with First Super. Compare these fees to the average super fund fees on our database, as it’s important not to let your super be eaten away by fees before you retire.

Yes, First Super offers a consolidation service for members who have super in other funds.

It’s important to check with your old super funds for information regarding costs such as exit fees and insurance coverage you may lose if you switch super funds. If you have any questions or concerns about the rollover process, give First Super a call on 1300 360 988.

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 for the year is not too high
  • Insurance in super is still adequate coverage for your needs
  • 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?

First Super was established in 2008 when three industry super funds merged together (the Furniture Industry Retirement Superannuation Trust, the Pulp & Paper Workers’ Superannuation Fund and the Timber Industry Super Scheme),.

As an industry super fund, First Super is a non-for-profit organisation that exists for the benefit of members. Its goal is to maximise retirement benefits for members. By providing quality superannuation, retirement, education and financial services for their members, First Super is proud to be one of the lowest cost super funds on the market.

First Super Personal Division

Canstar Research
Award: Outstanding Value Superannuation

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