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transition-to-retirement

transition-to-retirement

buy/sell spread transfer update

buy/sell spread transfer update

 

Transition-to-Retirement Buy/Sell Spread Transfer Update

FirstChoice Personal Super, FirstChoice Wholesale Personal Super and FirstChoice Wholesale Pension are offered from the same Colonial First State FirstChoice Superannuation Trust (‘FirstChoice Trust’).

This means that if a member starts to use all or part of their FirstChoice Personal Super or FirstChoice Wholesale Personal Super to receive payments through a FirstChoice Wholesale Pension, then they still only hold one interest in the FirstChoice Trust.

At Colonial First State we do all we can to support members as they transitions through their working life and into retirement. Our policy to refund buy/sell spread charges when members move between like-for-like investment options with our FirstChoice platform is a testament to this commitment.

As such, where a member transfers between like-for-like investment options from a FirstChoice Wholesale pre-retirement pension (TTR) to a FirstChoice Wholesale retirement pension (allocated pension), this will be processed using net asset value unit prices and members will not incur a buy/sell spread.

Please note the existing processes will continue to apply where a member moves between like-for-like investment options in the following transition scenarios:

  • Super to TTR pension
  • TTR pension to TTR pension
     

Disclaimer

Adviser Use Only

Colonial First State Investments Limited ABN 98 002 348 352, AFSL 232468 (Colonial First State) is the issuer of FirstChoice Personal Super, FirstChoice Wholesale Personal Super, FirstChoice Pension, FirstChoice Wholesale Pension, FirstChoice Employer Super offered from the Colonial First State FirstChoice Superannuation Trust ABN 26 458 298 557. It also issues interests in the Rollover & Superannuation Fund (ROSCO) and Personal Pension Plan (PPP) offered from the Colonial First State Rollover & Superannuation Fund ABN 88 854 638 840. Colonial First State also issues interests in products made available under FirstChoice Investments and FirstChoice Wholesale Investments. This is based on the understanding of current regulatory requirements and laws as at 14 March 2019. While all care has been taken in the preparation of this document (using sources believed to be reliable and accurate), to the maximum extent permitted by law, no person including Colonial First State or any member of the Commonwealth Bank group of companies, accepts responsibility for any loss suffered by any person arising from reliance on this information. This document provides information for the adviser only and is not to be handed on to any investor. It does not take into account any person’s individual objectives, financial situation or needs. You should read the relevant Product Disclosure Statement (PDS) and Financial Services Guide (FSG) before making any recommendations to a client. Clients should read the PDS and FSG before making an investment decision and consider talking to a financial adviser. The PDS and FSG can be obtained from or by calling us on 13 18 36.

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