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Delivering better outcomes to members

We’re making some important changes to FirstChoice Employer Super that will simplify the number of investment options and fees members pay.

These changes may affect your clients’ investments, the fees they pay, their insurance premiums and any rebates they receive.

From May 2020

  1. We’re consolidating FirstChoice Employer Super’s investment menu by removing the closed investment options and transferring balances in any of these closed investment options to the equivalent Select investment options.
  2. If members are part of an employer plan with an employer plan adviser (plan adviser), we may be paying adviser commission from the fees we receive for the closed investment options. This payment will stop after your clients’ investments are transferred. If the adviser commission payment has been rebated to your client as a Service Fee Rebate, this will stop as there are no adviser commissions in the Select or Lifestage investment options.
  3. If your clients hold investments in closed investment options and they’ve held insurance since before 1 July 2014, the plan adviser may also be paid an insurance commission from the total insurance premiums they pay. This insurance commission will stop after your clients’ investments are transferred. Your clients’ insurance administration fee may also change after their investments are transferred. Their premiums may increase or decrease as a result of the removal of insurance commission and changes to insurance administration fee.
  4. The thresholds and eligibility requirements for the Employer Plan Rebate are different for the FirstChoice Lifestage and Select investment options, so the rebate amount will generally decrease or no longer apply.


We’ve included more information about each of these changes in the flyer available below along with a sample of the member letter that impacted members will receive. For FirstChoice Employer Super, we’ll write to your impacted clients from March 2020 to advise them of these changes.

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Colonial First State Investments Limited ABN 98 002 348 352, AFSL 232468 (CFSIL) is the issuer of FirstChoice Personal Super, FirstChoice Wholesale Personal Super, FirstChoice Pension, FirstChoice Wholesale Pension, FirstChoice Employer Super offered from the Colonial First State FirstChoice Superannuation Trust ABN 26 458 298 557. It also issues interests in the Rollover & Superannuation Fund (ROSCO) and Personal Pension Plan (PPP) offered from the Colonial First State Rollover & Superannuation Fund ABN 88 854 638 840. CFSIL also issues interests in products made available under FirstChoice Investments and FirstChoice Wholesale Investments. The investment performance and the repayment of capital of CFSIL products is not guaranteed.

Avanteos Investments Limited ABN 20 096 259 979, AFS Licence 245531 (AIL) is the trustee of the Avanteos Superannuation Trust ABN 38 876 896 681 which includes FirstWrap Plus Super and Pension, and is the operator of The Avanteos Wrap Account Service which includes FirstWrap Plus Investments. The investment performance and the repayment of capital of AIL products is not guaranteed.

This is based on the understanding of current regulatory requirements and laws as at the date of publication. While all care has been taken in the preparation of this document (using sources believed to be reliable and accurate), to the maximum extent permitted by law, no person including CFSIL and AIL, accepts responsibility for any loss suffered by any person arising from reliance on this information. This document contains general information strictly for adviser use only and is not to be handed to any investor. It does not take into account any person’s individual objectives, financial situation, needs or taxation circumstances. The Target Market Determinations (TMD) for our financial products can be found at and include a description of who a financial product is appropriate for. You should read the relevant Product Disclosure Statement (PDS), Financial Services Guide (FSG) or Investor Directed Portfolio Service Guide (IDPS Guide) before making any recommendations. Investors should read the relevant PDS, FSG or IDPS Guide before making an investment decision and consider talking to a financial adviser. Investors can obtain FirstChoice PDSs and the FSG from or by calling 13 13 36 and FirstWrap PDSs, FSGs and IDPSs from their adviser or

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