When it comes to selecting a super fund, First Super stands apart as the one that was designed to support your type of business and your employees.
Established in 2008 following the merger of three funds, First Super is the Industry SuperFund providing specialist super and retirement products for those working in the timber, furniture and joinery, and pulp and paper industries. Yes – we have the symbol!
As we manage more than $3.2 billion of workers’ savings, we take very seriously our commitment to ensure all members achieve a dignified retirement. With 50,000 members and over 15,5000 employers around the country, the fund has a dedicated face-to-face servicing model to support both groups.
Dedicated help when and where you need it
First Super has Business Development Managers and Member and Employer Services Coordinators to ensure the fund delivers the best possible support to our members and employers. They work closely with our Financial Advice Team, who provide financial planning to members across the country.
Our Business Development Managers work out of Melbourne and Sydney and focus on identifying new opportunities with employers and key industry associations like the FTMA. They help companies to meet their super obligations and make sense of legislative developments, and onboard new employers and their staff.
To provide support in key regional areas, the fund has Member and Employer Services Coordinators located in Mount Gambier, Tumut and Lismore, as well as Melbourne and Sydney to cover the metro and outer metro areas. There is currently a vacancy in Tasmania that we plan to fill in the New Year.
The Coordinators are employed by the Manufacturing Division of the CFMMEU, under a contractual arrangement awarded in 2017. The contract followed an open, public tender process overseen by an external probity auditor, and all documents relating to the procurement process were shared with the super industry regulator, APRA.
The contract is very clear in terms of the Coordinators not being permitted under any circumstances to share First Super data with the union or to access union member data.
Member and Employer Services Coordinators are authorised representatives of First Super, which allows them to provide general advice to members and employers on behalf of the fund. They represent the fund in all matters relating to superannuation and wear their First Super uniforms with pride.
The CFMMEU is one of a number of outsourced providers First Super uses to effectively run our day-to-day operations, including the administrator, insurer, investment managers, asset consultant, custodian, and internal and external auditors.
Performance and governance
Delivering strong, long-term performance for our members is demonstrated by recent analysis of data from APRA that ranked First Super’s MySuper option the sixth best of all funds over a five-year period, returning 8.50%. This is the investment option that most members are invested in. Money Magazine also named us a Gold Winner in its Best of the Best 2019 awards.
First Super has a proud and robust governance structure, including being one of the first funds to appoint two independent directors. These independent directors work with the five employee representative directors nominated by employer associations and five member representative directors nominated by the Manufacturing Division of the CFMMEU. All First Super directors are obliged by law to act in the best interests of all members of First Super.
First Super is proud of its history and committed to continuing to provide the best possible superannuation outcomes for employees in the industries we cover. The frame and truss sector is an important member of that family, and First Super is proud of its long association with the FTMA and its members.