Transfers between FirstChoice Super and Pension products
6 May 2019
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 you start to use all or part of your FirstChoice Wholesale Personal Super to receive payments through a FirstChoice Wholesale Pension, then you still only hold one interest in the FirstChoice Trust. This may allow us to offer you a refund of buy/sell spreads where you transfer between like-for-like investment options, between these FirstChoice products.
Where you transfer 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 you will not incur a buy/sell spread. With the exception of pension payments, this transfer is the only transaction that can occur on your account on the day of transfer. All other requested transactions will be processed as soon as practical, after this transfer has been completed.
For FirstRate Wholesale Term Deposit options, we currently provide the ability for term deposit(s) to continue from FirstChoice Wholesale Personal Super to FirstChoice Wholesale Pension accounts without incurring an early withdrawal adjustment. When you transfer from FirstChoice Wholesale Personal Super to FirstChoice Wholesale Pension, any tax liability will be deducted.
For more information about taxation, please refer to the Product Disclosure Statement.
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To find out how these changes may affect you, call us on 13 13 36, or speak to your financial adviser.
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.