Reduced administration fee for FirstChoice Employer Super
As part of our focus on delivering the best outcomes for members and strengthen the performance of First Choice Employer Super, we have reduced our administration fees from 1 July 2021 to 30 November 2021 (Fee Reduction Period). This is in addition to the full fee waiver of both the dollar and percentage based administration fees from 1 December 2021 to 31 August 2022.
The following information updates the ‘Fees and other costs’ section of the FirstChoice Employer Super Product Disclosure Statement with effect from 1 July 2021 to 30 November 2021. It should be read in conjunction with the FirstChoice Employer Super Product Disclosure Statement that was in effect at any given time during the Fee Reduction period.
- From 1 July 2021 to 30 November 2021, the dollar based administration fee is nil; and
- From 1 September 2021 to 30 November 2021, the percentage-based administration fee is 0.00%.
Where a FirstChoice Employer Super member was charged an amount in excess of the fees and costs that are payable during the Fee Reduction Period, they will receive a fee refund into their account.
The changes outlined above do not impact upon any other fees and costs disclosed in the ‘Fees and other costs’ section of any given FirstChoice Employer Super Product Disclosure Statement.
FirstChoice Employer Members will be given at least 30 days’ prior written notice if fees increase.
Avanteos Investments Limited ABN 20 096 259 979, AFSL 245531 (AIL) is the issuer of FirstChoice Employer Super offered from the Colonial First State FirstChoice Superannuation Trust ABN 26 458 298 557. This document may include general advice but does not consider your individual objectives, financial situation, needs or tax circumstances. You can find the target market determinations (TMD) for our financial products at www.cfs.com.au/tmd, which include a description of who a financial product might suit. 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. You can get the PDS and FSG at www.cfs.com.au or by calling us on 1300 654 666. All applications for these products must be on the application form attached to the PDS, which can be completed online (other than for FirstChoice Employer Super) or on paper. Applications for FirstChoice Employer Super can be made by speaking to your employer or Relationship Manager (RM).