First State Super Questions & Answers

Hi Brett

Thanks for your message.

First State Super’s death, total and permanent disablement and income protection insurance is offered to First State Super members under insurance policies issued to the trustee by TAL Life Limited ABN 70 050 109 450, AFSL 237848 (the insurer).

The insurance cover provided is subject to the terms and conditions contained in the insurance policies (policies) issued to the trustee by the insurer.

The insurance information provided in the Member Booklet and Member Booklet Supplement available on our website is based on the policies issued by the insurer, and information provided by the insurer about the operation of the policies.

The terms and conditions of the policies prevail over any inconsistent information in the Member Booklet (Product Disclosure Statement) and our Member Booklet Supplement.

Insurance benefits will only become payable if the insurer accepts the relevant claim. Payment of any approved claim will be made by the insurer to the trustee and any insured benefit and any account balance can only be paid to a member by the trustee when a condition of release under the Superannuation Industry (Supervision) Act 1993 (Cth) is met.

If you would like to discuss your insurance cover with us, feel free to call our service centre on 1300 650 873.

Kind Regards,
Beau

Hi Brett,

We want to ensure you that we are continuing to work in hopes of finding a resolution to your concerns.

With any updates of your particular case, a representative of the fund will be in contact with you and will continue to assist you moving forward.

We appreciate your patience, and thank you for allowing us to investigate this further.

Kind Regards,
Beau

Hi Brett

Thanks for your enquiry.

A representative of the Fund Trustee has previously been in touch with you regarding the complaint on your claim. Our representative will be in touch with you before the end of this week to assist you further with your concerns.

We do appreciate your patience while we continue to investigate this for you, and endeavor to provide you with an update shortly.

Kind Regards,
Beau

Hello,

Thanks for your enquiry.

To provide members with the convenience they’ve asked for, we’ve launched our First State Super mobile app to members.

For a member using a Huawei android phone, you should be able to download the First State Super App from the Huawei AppGallery (App store), or Google Apps store, and login using the same details you would use to access your online account through our website.

If you have not previously accessed your online account, you will be required to register for online access:
https://secure.firststatesuper.com.au/aol/index.html#RegisterNow

If you are having any issues or need further assistance with this, please feel free to contact our Service Centre on 1300 650 873.

Kind Regards,
Beau

Hi Michael,

Thank you for your message.

We understand your concerns regarding the impact the Coronavirus is having on the investment markets.

We've published information on our website that'll help you with any questions you may have: https://firststatesuper.com.au/investment-and-performance/market-updates

If you'd like to chat to us about this in more detail, please feel free to contact service centre on 1300 650 873.

Kind Regards,
Beau

Hello,

Please accept our apologies for the extended delay in our response to your enquiry.

We calculate unit prices for our investment options each business day, but this price does not reflect that day’s market movements.

It takes two business days before the prices are available. This time is needed to calculate the value of the assets we invest in and the number of units on issue.

This also means we will not declare a unit price on NSW or National public holidays.

From time to time, we may come across external issues that briefly affect our ability to update our daily unit price, but once rectified we expect to update this information on our website, when practicable.

If you'd like to chat to us more about our investment options, feel free to call us our Service Centre 1300 650 873.

Kind Regards,
Beau

Hi,

We would be happy to discuss the questions you raised regarding unit balance and allocation. If you could please call us on 1300 192 602 we can discuss the specifics of your account.

Thanks
Jamie

Hi Rosalind,

We are sorry to hear that you are still waiting on your funds.
Can you please contact us on 1300 650 873 between 8.30-6pm AEST Monday to Friday so we can look into your delay of funds.

Kind regards,
Trish

Hi Johnny,

Thank you for your question.

Assuming you meet the eligibility requirements, financial hardship applications are prioritised and are generally processed within 3 to 5 business days of us receiving them. You may wish to confirm your eligibility with Centrelink before submitting your application.

You can read more about accessing your super under financial hardship here: https://firststatesuper.com.au/content/dam/ftc/digital/pdfs/member/factsheet/module4/M4.30_AccessFinHardship.pdf

Please be sure to supply all requirements listed on the document to avoid delays, and feel free to contact our service centre on 130 650 783 (Monday – Friday, 8:30am – 6:00pm AEST) if you have any further questions.

Kind regards,
Dan

Thank you for your question.

First State Super offer twelve options to invest in which range from high risk to low risk. As a member you have access to choose where you would like your funds invested.

To look at the different investment options we offer and the past performance please refer to the below link:

We also have some further information on our website about the recent developments within the economic market:

https://firststatesuper.com.au/investment-and-performance/market-updates

Investment returns can be positive or negative depending on how the market’s performing. This is reflected in the way unit prices regularly move up and down. Past performance is not a reliable indicator or a guarantee of future performance.

To help you make an informed decision about your investments, we provide help through a team of phone based super advisers and educational seminars. These services come at no extra cost.

We also have a useful comparison tool available to our members on our website. Independent research company Chant West allows you to compare key features of over 200 different funds on an ‘apples with apples’ basis. You'll receive a detailed report comparing First State Super and other funds you select.

https://applecheck.chantwest.com.au/welcome?ProductCode=AC3Sup&ClientCode=FSS&Mode=FundWebsite&Launch=17aa2a5e-291b-4e85-91ba-9bbcc7efa96e

So we can discuss you feedback in more detail, could you please send a private message with your preferred contact number?

I can then make contact with you at a time that is convenient for you.

Thanks
Harmony

Hi Emile,

Thank you for your question regarding personal contributions. The current after-tax contribution cap is $100,000 a year. If the total value of all your superannuation and income stream accounts is more than the transfer balance cap of $1.6 million for 2018-19 (indexed) at the start of the financial year, then your cap is nil. Also if you are 70 but less than 75 years old to make personal contributions you must satisfy the work test (To meet the work test it means you have been gainfully employed for at least 40 hours in a 30 day period during the financial year in which a contribution other than Superannuation Guarantee (SG) is made)

I have included the link to our website below which explains personal contributions in more detail:
https://firststatesuper.com.au/member/super/contributions/personal

Our fact sheets are also really helpful and you can find more information about contributions under the heading "Growing your super"
https://firststatesuper.com.au/member/forms-and-downloads/factsheets

If you have any further queries or require assistance please do not hesitate to contact us on 1300 650 873, Monday to Friday between the hours of 8.30am - 6.00pm AEST. Thanks, Belinda

Hi Ted, we’re sorry for the recent delay in processing withdrawals and we’d like to explain the reason for the delay. We recently upgraded our online administration platform. As part of the upgrade implementation we had to place a temporary freeze on all transactions. This freeze created a backlog that was much larger than we anticipated, despite extensive planning. This led to delays in the time taken to respond to some member enquiries and transaction requests.

I am not trying to excuse or justify the delays, just explain why they occurred and confirm that they have nothing to do with liquidity. We have now processed a substantial amount of the backlog and will shortly resume normal service standards and response times. Once again, I apologise for the inconvenience this upgrade has caused some members. We are confident that once the new system is fully operational, there will be significant benefits for members using our online services.

If you have any questions, or are awaiting a payment, please call us on 1300 650 873 or send an email to [email protected] and we’ll work with you to resolve.Thanks, Kat