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FirstChoice Pension - Important changes to your fees

At Colonial First State we believe in being open and transparent about the fees we charge, so you can clearly understand what you’re paying for. That’s why we wanted to let you know about some upcoming changes to our cost recovery amount.


The cost recovery amount covers a portion of the ongoing expenses related to managing your investment. These include administrative, registry, audit and regulatory costs. This amount is currently charged at 0.02% of the amount you invest in the relevant impacted investment options per year.

What’s changing?

From 1 October 2017, the cost recovery amount will increase to 0.03%p.a. This means that we’ll be charging an additional 0.01% of your account balance per year to manage your investment. The increase will be annualised on a transitional basis in the 2018 financial year.


This change will be reflected as an increase in the investment fee and will be shown in your next statement and the Product Disclosure Statements (PDS), from mid-September.


The increase will apply to all existing options on the investment menu with the exception of:      

  • Suspended investment options
  • FirstRate Saver
  • FirstRate Term Deposit
  • FirstRate Investment Deposit


In future, any new investment options that we introduce will also include this fee.


Want more information?

Speak to your financial adviser or call us on 13 13 36, Monday to Friday, 8am to 7pm Sydney time.