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Our annual member outcomes assessments

Our annual member outcomes assessments

are now available

are now available

 

Each year, along with other super fund providers, we're required to publish the results of an annual member outcomes assessment for each of our products.

Background

In April 2019, the Government amended the Superannuation Industry (Supervision) Act 1993 (Cth), introducing a new requirement that superannuation fund trustees, annually complete and publish the results of a member outcome assessment (MOA) for their products.

As part of this assessment, superannuation funds are required to compare the fund’s performance with its peers and to analyse the achievement of the member outcomes set against specific internal and external benchmarks.

Such insights will assist members in helping to determine which product best suits their needs, as well as providing information on upcoming improvements of products they hold.

How we've completed our member outcomes assessments

The regulations set out specific requirements for an RSE licensee to regularly assess the outcomes provided to members and identify opportunities for improving these outcomes, supported by sound strategic and business planning.

In completing the MOA for each product we assessed key areas related to both our product offerings and business operations to demonstrate how and whether members’ best financial interests were being promoted.

In reaching our determination, we’ve compared the following areas against other superannuation products:

  • Fees and costs
  • Investment return
  • Investment risk


Additionally, we assessed the following areas using internally and externally set benchmarks and targets which were based on legislative guidance:

  • Fees and costs
  • Options, benefits and facilities
  • Investment strategy
  • Insurance strategy
  • Insurance fees
  • Scale and sustainability
  • Operating costs


This assessment was completed for all Colonial First State superannuation and pension products.

Further information on the member outcomes assessment, as well as a brief overview of the results can be found by clicking the below.

Alternatively, a more detailed overview of the results of each product and how they were determined can be found here.

FirstChoice (CFSIL)

FirstWrap (AIL)

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