Be aware of scams involving Coronavirus
Visit the Stay Smart Online website for information about Coronavirus scams and how to stay safe. If you think you have been scammed, you can make a report on the Scamwatch website, and find more information about where to get help. Additionally, you can visit the Moneysmart website for more information on how to spot a scam.
Note: we will never ask for your password for your Colonial First State account. Please be vigilant and double check any emails or phone calls you receive about pension, super or investment accounts.
Coronavirus and your super
These are challenging times, and our team is here to help. As always, we’re focussed on helping you achieve your long-term retirement goals. Please keep an eye on this page. We’re regularly updating it with the latest info about the markets and your super or pension.
Government support announcement
TEMPORARY REDUCTION OF MINIMUM PENSION PAYMENTS
To provide retirees with more flexibility in managing their retirement incomes, the Government has announced it is reducing the minimum pension payment requirement for account based pensions and similar products by 50% in both financial year 2019-20 and 2020-21.
FirstChoice insurance update
Insurance through FirstChoice covers you for pandemics including the coronavirus. So if you currently have death, TPD (total and permanent disability) or income protection within your FirstChoice super account you will be covered for coronavirus.
While the product disclosure statement provides the insurer with an option to apply an exclusion for pandemics for new members, our insurer has informed us they will not be applying that option.
- To check if you have insurance in a FirstChoice product please refer to your statement
- If you have a FirstChoice product with insurance and want to understand more about the types of cover click the button below
What's happening in the markets?
Weekly Wrap: Coronavirus continues to course through financial markets
Week ending 3 April: As the flow-on effects of the Coronavirus became clearer, investors grew increasingly concerned about the world’s economic outlook. But as Senior Investment Manager George Lin explains, some markets staged a somewhat respectable recovery.
LATEST GOVERNMENT UPDATES
About market volatility
Colonial First State Investments Limited ABN 98 002 348 352, AFS Licence 232468 (Colonial First State) is the issuer of super, pension and investment products. This document may include general advice but does not take into account your individual objectives, financial situation or needs. You should read the relevant Product Disclosure Statement (PDS) carefully and assess whether the information is appropriate for you and consider talking to a financial adviser before making an investment decision. A PDS for Colonial First State’s products are available at colonialfirststate.com.au or by calling us on 13 13 36.