Suggested Search
We’re introducing a series of changes to FirstChoice in our new Product Disclosure Statements (PDS). We’ve outlined each change below and provided information about transitioning to the new PDS from 16 November 2024.
- FirstChoice Wholesale Super and Pension
- FirstChoice Wholesale Investments
- FirstChoice Employer Super
- FirstChoice Investments (closed to new investors)
You can find detailed changes in the product updates.
Capital Group New Perspective - Hedged*
Global share
●
●
●
CFS Real Return
Diversified real return
●
●
●
Cohen & Steers Global Listed Infrastructure
Global property and infrastructure securities
●
●
●
Colchester Emerging Market Bond*
Diversified fixed interest
●
●
●
Fortlake Real Income
Diversified fixed interest
●
●
●
* Available on FirstChoice Wholesale Pre-Retirement Pension
The Ausbil Australian Equity (previously T. Rowe Price Australian Equity) investment option will undergo an investment manager change and reopen to new investors on 16 November 2024. A fee decrease will apply from 1 November 2024, please refer to the Fee decreases section below for more information.
For more information about the investment manager change, refer to the new PDS from 16 November 2024 at cfs.com.au/pds.
Ausbil Australian Equity (previously T. Rowe Price Australian Equity)
Platypus Australian Equities
Ausbil Australian Equity (previously T. Rowe Price Australian Equity)*^
Platypus Australian Equities~
●
●
●
●
●
CFS Alternatives^
Blackrock Global Liquid Alternatives~
●
●
●
●
CFS Asian Share
Skerryvore Global Emerging Markets All-Cap~
●
●
●
First Sentier Global Listed Infrastructure^
ClearBridge RARE Infrastructure Value~
●
●
●
●
Stewart Investors Global Emerging Markets Leaders Sustainability
Aikya Emerging Markets Opportunities
●
●
●
Stewart Investors Worldwide Sustainability^
Capital Group New Perspective~
●
●
●
●
●
* The Ausbil Australian Equity (previously T. Rowe Price Australian Equity) investment option is currently closed to new investors. On 16 November 2024, the Ausbil Australian Equity investment option will undergo an investment manager change and reopen to new investors.
^ Available on FirstChoice Wholesale Pre-Retirement Pension
~This investment option will have a fee decrease from 1 November 2024, please refer to the Fee decreases section below for more information.
Acadian Australian Equity
Acadian Core Australian Equity
Acadian Geared Australian Equity
Acadian Geared Core Australian Equity
Acadian Geared Sustainable Global Equity
Acadian Geared Global Equity
Acadian Sustainable Global Equity
Acadian Global Equity
Affirmative Global Impact Bond
MetLife Global Impact Bond
CFS Global Health & Biotechnology
CFS - Wellington Global Health & Biotechnology
CFS Global Small Companies
CFS - Wellington Global Small Companies
CFS Global Technology & Communications
CFS - Wellington Global Technology & Communications
DNR Capital Australian Equity Income
DNR Capital Australian Equities Income
First Sentier Conservative*
CFS Select Conservative
First Sentier Balanced*
CFS Select Balanced
First Sentier Diversified*
CFS Select Diversified
First Sentier High Growth
CFS Select High Growth
Ironbark Royal London Concentrated Global Share*
Royal London Concentrated Global Share
Ironbark Royal London Core Global Share*
Royal London Core Global Share
Realindex Australian Share Value*
RQI Australian Value
Realindex Australian Small Companies Value
RQI Australian Small Cap Value
Realindex Emerging Markets Value
RQI Emerging Markets Value
Realindex Global Share Value*
RQI Global Value
Realindex Global Share Value – Hedged*
RQI Global Value - Hedged
* Available on FirstChoice Wholesale Pre-Retirement Pension
We will make some minor changes to the asset allocation ranges, benchmarks, strategy wording, or objectives for a number of investment options from 16 November 2024. The changes are indicated in the table below.
Acadian Geared Global Equity*
Strategy
●
●
●
●
Acadian Global Equity*
Strategy
●
●
●
●
Aspect Absolute Return
Strategy
●
●
●
Ausbil Active Sustainable Equity
Strategy
●
●
●
●
Baillie Gifford Sustainable Growth
Strategy
●
●
●
CFS Balanced
Asset allocation and benchmark
●
●
●
●
●
●
CFS Conservative
Asset allocation and benchmark
●
●
●
●
●
●
CFS Defensive
Asset allocation and benchmark
●
●
●
●
●
●
CFS Diversified
Asset allocation and benchmark
●
●
●
●
●
CFS Enhanced Index Balanced
Asset allocation and benchmark
●
●
●
●
●
●
CFS Enhanced Index Conservative
Asset allocation and benchmark
●
●
●
●
●
●
CFS Enhanced Index Diversified
Asset allocation and benchmark
●
●
●
●
●
●
CFS Enhanced Index Growth
Asset allocation and benchmark
●
●
●
●
●
●
CFS Enhanced Index High Growth
Asset allocation and benchmark
●
●
●
●
●
●
CFS Enhanced Index Moderate
Asset allocation and benchmark
●
●
●
●
●
CFS Geared Growth Plus
Asset allocation and benchmark
●
●
●
●
CFS Growth
Asset allocation and benchmark
●
●
●
●
●
●
CFS High Growth
Asset allocation and benchmark
●
●
●
●
●
●
CFS Index Balanced
Asset allocation and benchmar
●
●
●
●
CFS Index Conservative
Asset allocation and benchmark
●
●
●
●
CFS Index Diversified
Asset allocation and benchmark
●
●
●
●
CFS Index Growth
Asset allocation and benchmark
●
●
●
●
●
CFS Index High Growth
Asset allocation and benchmark
●
●
●
●
CFS Index Moderate
Asset allocation and benchmark
●
●
●
●
CFS Lifestage 1945-49
Asset allocation
●
●
●
CFS Lifestage 1950-54
Asset allocation
●
●
●
CFS Lifestage 1955-59
Asset allocation
●
●
●
●
CFS Lifestage 1960-64
Asset allocation
●
●
●
●
CFS Lifestage 1965-69
Asset allocation
●
●
CFS Lifestage 1970-74
Asset allocation
●
●
CFS Lifestage 1975-79
Asset allocation
●
●
CFS Lifestage 1980-84
Asset allocation
●
●
CFS Lifestage 1985-89
Asset allocation
●
●
CFS Lifestage 1990-94
Asset allocation
●
●
CFS Lifestage 1995-99
Asset allocation
●
●
CFS Lifestage 2000-04
Asset allocation
●
●
CFS Lifestage 2005-09
Asset allocation
●
●
CFS Moderate
Asset allocation and benchmark
●
●
●
●
●
●
CFS Select Balanced*+
Asset allocation and benchmark
●
●
●
●
●
CFS Select Conservative*+
Asset allocation and benchmark
●
●
●
●
●
CFS Select Diversified*+
Asset allocation and benchmark
●
●
●
●
●
CFS Select High Growth*+
Asset allocation and benchmark
●
●
●
●
CFS Thrive+ Sustainable Growth
Asset allocation and benchmark
●
●
●
●
●
DNR Capital Australian Equities Income*
Strategy
●
●
●
●
Intermede Global Equities
Strategy
●
●
●
●
Ironbark Property Securities
Strategy
●
●
●
●
●
MetLife Global Impact Bond*
Strategy
●
●
●
Mutual Income
Strategy
●
●
●
●
Nanuk New World
Strategy
●
●
●
●
Pendal Global Select
Strategy
●
●
●
Pendal Monthly Income Plus
Objective and strategy
●
●
●
●
●
Pendal Sustainable Australian Share
Strategy
●
●
●
●
Pendal Sustainable Balanced
Strategy
●
●
●
●
Pendal Sustainable Fixed Interest
Strategy
●
●
●
●
Perpetual Balanced Growth
Objective and strategy
●
●
●
●
●
Perpertual Conservative Growth
Objective and strategy
●
●
●
●
●
Perpetual Diversified Growth
Objective and strategy
●
●
●
●
●
Perpetual Diversified Real Return
Strategy
●
●
●
●
Perpetual Share-Plus Long-Short
Strategy
●
●
●
●
PIMCO Global Bond
Strategy
●
●
●
●
●
Platinum Asia
Strategy
●
●
●
●
●
Platinum International
Strategy
●
●
●
●
●
●
Resolution Capital Global Property Securities
Strategy
●
●
●
●
RQI Australian Small Cap Value*
Strategy
●
●
●
●
RQI Australian Value*
Strategy
●
●
●
●
●
RQI Emerging Markets Value*
Strategy
●
●
●
●
RQI Global Value – Hedged*
Strategy
●
●
●
●
●
●
RQI Global Value *
Strategy
●
●
●
●
●
●
Stewart Investors Worldwide Leaders Sustainability
Strategy
●
●
●
●
WaveStone Australian Share
Strategy
●
●
●
●
●
* This option will have a name change, refer to ‘Investment option name changes’ above.
+ This option will be closed to new investors from 16 November 2024.
The following options in FirstChoice Wholesale Investments, FirstChoice Wholesale Personal Super and FirstChoice Wholesale Pension will be closed to new investors from 16 November 2024.
First Sentier Conservative
CFS Select Conservative
●
●
●
●
First Sentier Balanced
CFS Select Balanced
●
●
●
●
First Sentier Diversified
CFS Select Diversified
●
●
●
●
First Sentier High Growth
CFS Select High Growth
●
●
●
The following FirstRate Term Deposits for FirstChoice Wholesale Pension will be closed to new investors from 16 November 2024.
- FirstRate Term Deposit – 2 Year Compound
- FirstRate Term Deposit – 3 Year Compound
- FirstRate Term Deposit – 5 Year Compound
Acadian Defensive Income
Alternative income
Alternatives
AB Managed Volatility Equities
6 (High)
7 (Very high)
Acadian Global Managed Volatility Equity*
6 (High)
7 (Very high)
State Street Australian Equity*
6 (High)
7 (Very high)
* Available on FirstChoice Wholesale Pre-Retirement Pension.
Macquarie
28.0%
Macquarie
50.0%
Wellington
19.0%
Wellington
19.0%
Loomis Sayles
10.0%
Loomis Sayles
10.0%
Colchester
11.5%
Colchester
11.5%
Morgan Stanley
9.5%
Morgan Stanley
9.5%
Franklin Templeton
12.5%
H20
9.5%
Resolution Capital
35.0%
Resolution Capital
45.0%
DWS
40.0%
DWS
55.0%
First Sentier Investors
25.0%
Cohen & Steers
40.0%
Cohen & Steers
60.0%
Atlas
25.0%
Atlas
20.0%
Lazard
25.0%
Lazard
20.0%
First Sentier Investors
10.0%
BlackRock Global Liquid Alternatives*
1.73%
1.29%
0.44%
Skerryvore Global Emerging Markets All-Cap*
1.61%
1.39%
0.22%
ClearBridge RARE Infrastructure Value*
1.47%
1.20%
0.27%
Magellan Infrastructure^
1.56%
1.30%
0.26%
Stewart Investors Worldwide Leaders Sustainability
1.23%
1.20%
0.03%
Capital Group New Perspective*
1.05%
1.00%
0.05%
Platypus Australian Equities*
1.01%
0.95%
0.06%
BlackRock Global Liquid Alternatives*
1.74%
1.29%
0.45%
Skerryvore Global Emerging Markets All-Cap*
1.61%
1.39%
0.22%
ClearBridge RARE Infrastructure Value*
1.48%
1.20%
0.28%
ClearBridge RARE TTR Infrastructure Value*
1.48%
1.20%
0.28%
Magellan Infrastructure^
1.56%
1.30%
0.26%
Magellan TTR Infrastructure^
1.57%
1.31%
0.26%
Stewart Investors Worldwide Leaders Sustainability
1.20%
1.15%
0.05%
Capital Group New Perspective*
1.05%
1.00%
0.05%
Capital Group TTR New Perspective*
1.05%
1.00%
0.05%
Platypus Australian Equities*
0.99%
0.95%
0.04%
Platypus TTR Australian Equities*
1.00%
0.95%
0.05%
Magellan Infrastructure^~
1.18%
0.98%
0.20%
BlackRock Global Liquid Alternatives*
1.80%
1.27%
0.53%
Skerryvore Global Emerging Markets All-Cap*
1.58%
1.36%
0.22%
ClearBridge RARE Infrastructure Value*
1.22%
1.17%
0.05%
Magellan Infrastructure^
1.52%
1.27%
0.25%
Stewart Investors Worldwide Leaders Sustainability
1.17%
1.12%
0.05%
Capital Group New Perspective*
1.02%
0.97%
0.05%
Platypus Australian Equities*
0.97%
0.92%
0.05%
* This option will have an investment manager change, refer to “Manager replacements” for more information.
^ This option will have the performance fee removed effective 1 November 2024.
~ Dollar-based administration fee of $60 p.a. ($5 per month) per account is payable in addition to the fees shown above for FirstChoice Employer Super. Refer to the PDS for further information.
FirstRate Term Deposit administration fee
From 16 November 2024, a term deposit administration fee of 0.15% p.a. calculated on the initial principal invested, will be applied to new FirstRate Term Deposits (including rollovers). The fee will not apply to term deposits originated prior to 16 November 2024. The administration fee will be deducted from the interest earned at maturity or when a FirstRate Term Deposit is fully withdrawn or annually (for 2-year, 3-year and 5-year term deposits). If the term is 9 months or less, the fee will be pro-rated.
The administration fee will apply to FirstRate Term Deposits offered through FirstChoice Wholesale Personal Super and FirstChoice Wholesale Pension products.
The change is applicable to both opening new term deposits and rolling over existing term deposit products:
- FirstRate Term Deposit 3 month
- FirstRate Term Deposit 6 month
- FirstRate Term Deposit 9 month
- FirstRate Term Deposit 12 month
- FirstRate Term Deposit 2 year
- FirstRate Term Deposit 3 year
- FirstRate Term Deposit 5 year.
FirstChoice Investment fees and costs and transaction costs
The investment fees and costs and transaction costs have been reviewed and updated to reflect the fees and costs applicable for the year ended 30 June 2024 for our FirstChoice products. Performance fees where applicable have also been updated to reflect the latest estimates.
For more information, view our new PDS from 16 November 2024.
- Updated disclosure related to anti-money laundering and counter-terrorism financing laws and sanctions laws.
- Updated disclosure related to operating expenses and costs.
- Updated disclosure related to asset allocation
- Updates and enhancements to standalone forms, including FirstChoice and insurance application forms
Improved flexibility for first home super saver scheme
The first home super saver scheme (FHSS) allows eligible people to make voluntary contributions to super, and then release those contributions and associated earnings to help pay for their first home.
Under the scheme, you must first apply for an FHSS determination from the ATO to confirm the maximum amount you can release. Once a determination is received, you may then request to the ATO to withdraw under the scheme.
For FHSS determinations made on or after 15 September 2024, the following changes make the scheme more flexible:
- You can request an FHSS determination if you have already entered into a contract to purchase your first home, but are not yet the legal owner. Previously you had to request a determination before entering into a contract to purchase your first home.
- You have up to 90 days after they enter into a contract to purchase or construct a home to request a withdrawal under the scheme (previously 14 days).
Additional 15% tax on earnings for total super balances over $3 million
The Government has proposed introducing a new 15% tax on the portion of a member’s earnings that are attributable to their total superannuation balance above $3 million. Under the proposal, a member’s earnings will be calculated based on the difference in their total superannuation balance from one year to the next, with adjustments made for contributions and withdrawals made during the year.
The tax is proposed to apply from the 2025–26 financial year, and would be levied on members personally. Members could then choose to pay the tax from their own pocket, or elect to have it released from super.
At the time of writing, a Bill to implement this proposal had been introduced into parliament but it had not been legislated.
Choice to exit certain legacy income streams
The Government has proposed a five-year window during which you could choose to exit certain otherwise non-commutable legacy income streams (including term allocated pensions) commenced prior to 20 September 2007 (or at a later time due to the rollover of a previous legacy income stream). Under this proposal, you may then be able to use the commuted amount to commence a more flexible income stream such as an account based pension, make a lump sum withdrawal or retain it in a superannuation accumulation account.
At the time of writing, draft regulations relating to this proposal had been released, but it had not become law.
Pre-order your new PDSs
You can pre-order printed copies of the new FirstChoice PDSs from 8 November 2024 from FirstNet Adviser. Simply log on and go to: Product support > Order documents and PDSs.
Digital copies will be available to download from FirstNet adviser from 16 November 2024. Please note, any pre-ordered copies will be fulfilled first.
Transitioning to the new PDS
PDS application forms dated 15 June 2024 will continue to be accepted for three months until 3pm, 14 February 2025, Sydney time. After this date, the application forms in the new PDS dated 16 November 2024 must be used.
FirstChoice Employer Super application forms (including spouse applications) dated 30 June 2024 will continue to be accepted for three months until 3pm, 28 February 2025, Sydney time. After this date, the application forms in the new PDS dated 16 November 2024 must be used.
Where an insurance application from the 18 November 2023 PDS/insurance booklet is signed and dated prior to the new 16 November 2024 PDS, we will accept applications until 3pm, Sydney time, 20 December 2024.
We’re here to help
If you have any questions, please speak with your local Business Development team or call Adviser Services on 13 18 36, Monday to Friday, 8:30am – 6pm, Sydney time.
Unleash in ways you never thought possible
Get in touch
For technical enquiries contact us
8:30am – 6pm AEST Monday to Friday.
Adviser use only
Avanteos Investments Limited ABN 20 096 259 979, AFSL 245531 (AIL) is the trustee of the Colonial First State FirstChoice Superannuation Trust ABN 26 458 298 557 and issuer of FirstChoice range of super and pension products. Colonial First State Investments Limited ABN 98 002 348 352, AFSL 232468 (CFSIL) is the responsible entity and issuer of products made available under FirstChoice Investments and FirstChoice Wholesale Investments. Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (CBA) is the issuer, and Colonial First State Investments Limited ABN 98 002 348 352, AFSL 232468 (CFSIL) is the administrator, of the FirstRate Saver and FirstRate Term Deposits products. The investment performance and the repayment of capital of CFSIL products are not guaranteed.
This webpage is based on current requirements and laws as at October 2024. While all care has been taken in preparing the information contained on this webpage (using reliable and accurate sources), to the extent permitted by law, no one including AIL and CFSIL, nor any related parties, their employees or directors, accept responsibility for loss suffered by anyone from reliance on this information. This webpage provides general information for the adviser only and is not to be handed to any investor. It doesn‘t take into account anyone’s individual objectives, financial situation, needs or tax circumstances. You should read the relevant Product Disclosure Statement (PDS) and Financial Services Guide (FSG) before making any recommendations to a client. The PDS and FSG can be obtained from www.cfs.com.au or by calling us on 13 18 36.