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Latest News

Latest News     Newsletters     

Higher limits for first home savers

July 7th, 2021

Saving for a first home deposit is challenging.  Now that we’ve stated the obvious, what can you do about it?   You might be surprised to learn that over the last few years the Government has made some changes to super so first-time buyers can save faster for a home using their super account.  While this sounds great […]

Latest News     Newsletters     

The First Home Super Saver Scheme: What is it and how does it work?

June 2nd, 2021

Housing affordability is an ongoing concern for many Australians, and a hotly debated topic both socially and politically.  First-home buyers are faced with the very real challenge of saving a home deposit in a low interest rate and low real-wage growth environment. The prospect of saving a 20% deposit (the minimum amount required to avoid […]

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Budget changes to super: more super for a first home and the end of the “work test” for older Australians

May 12th, 2021

The 2021-22 Federal Budget has been handed down, with several changes to super and retirement being announced. Most were adjustments to existing rules, rather than sweeping changes. We’ve summarised the key points for members below. FIRST HOME BUYERS CAN SAVE EVEN MORE OF THEIR DEPOSIT IN SUPER UNDER THE FIRST HOME SUPER SAVER SCHEME.  The current situation: Eligible first home […]

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You could save 10% more into your super from 1 July

May 12th, 2021

From 1 July the amount you can contribute to your super will increase by 10%.  That’s because the Government is lifting the contribution cap limits on concessional (before-tax) and non-concessional (after-tax) contributions.  Here are the new caps, effective 1 July this year.  Financial year (FY)  2020/21 (current FY) 2021/22 (next FY) Concessional (before-tax) contribution cap  $25,000 $27,500 Non-concessional […]

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First Super achieves AAA Quality Rating for 3 major products

April 12th, 2021

We’re pleased to announce First Super has received the Rainmaker AAA Quality Rating for its super and pension products for 2021.   The rating is a seal of approval from one of Australia’s leading financial services research and information companies.   First Super’s AAA Quality Rating was achieved for the following products:   Employer Sponsored (members who join through their workplace) Allocated Pensions (members who open a retirement account with us) Personal (members who are self-employed and contribute […]

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Details changed? Let us know! 

February 5th, 2021

Keep us informed when your details change – and we’ll keep you informed about your super.  Up-to-date details put you in control  It’s important for us to be able to reach you about your super in a range of ways. This keeps you in control of your super account so you can stay on track and make choices when you need to.   We’ll contact you throughout the […]

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Growing your super after early release. Three steps to take now.

February 5th, 2021

Around three million Australians like you withdrew super last year to the tune of more than $36 billion. Worried about how this might impact your savings at retirement? Want to understand ways to grow your super balance again? Let’s get things back on track.   Step 1. Know what you’re working with.  It’s better to know than to wonder. Check your current super balance and any insurance benefits by logging […]

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From the CEO: 2020/21 mid-year investment update

February 5th, 2021

After a turbulent 2019/20 financial year, it was heartening to see investment returns firmly in the positive for the first half of 2020/21. Global share market performance was varied early in the 2020/21 financial year. As economies and businesses slowly started to recover from the impact of COVID-19, the US and China produced large positive […]