Following a recent review, we’re making changes to some of the cash and term deposit investment products we offer to members. The products and investment options impacted are:
|FirstChoice Wholesale Personal Super
||FirstRate Wholesale Saver|
|FirstChoice Wholesale Pension
|FirstChoice Personal Super||FirstRate Saver|
|FirstChoice Employer Super|
How will this impact me?
The table below provides and overview of the changes with an effective date of 3 September 2021.
|Product||Investment option||Changes will be applied automatically|
FirstRate Wholesale Saver
From 3 September 2021, we’re introducing an administration fee that will apply to the
Even after taking into account the deduction of the administration fee the return earned will
The fee will be calculated daily and deducted monthly, and will be included as an 'Administration Fee' in the 'Other fees of your investment' section of member’s six-monthly statements.
We are allowing members invested in these options more than three months to understand and discuss these changes with their adviser before changes take effect in September 2021. If members currently don’t have an adviser we have directed them to find one via www.colonialfirststate.com.au/find-a-adviser
We’re here to help
If you would like more information regarding this closure, please speak to your financial adviser or call us on 13 13 36, Monday to Friday, 8am to 7pm, Sydney time.
Colonial First State Investments Limited ABN 98 002 348 352, AFSL232468 (Colonial First State) is the issuer of FirstChoice Wholesale Investments and FirstChoice Investments. Commonwealth Bank of Australia ABN 48 123 123 124, AFSL234945 (the Bank) is the issuer, and Colonial First State is the administrator, of FirstRate Saver. Colonial First State is a wholly owned subsidiary of the Bank. The Bank and its subsidiaries do not guarantee the performance of FirstChoice or the repayment of capital by FirstChoice. This document may include general advice but does not take into account your individual objectives, financial situation or needs. You should read the relevant Product Disclosure Statement (PDS) and Financial Services Guide (FSG) carefully, assess whether the information is appropriate for you, and consider talking to a financial adviser before making an investment decision. The PDS and FSG can be obtained from colonialfirststate.com.au or by calling us on 13 13 36.