A message for members
From Deanne Stewart, CEO, and Michael Dundon, former CEO VicSuper
The past few months have been an exciting time in the history of our fund. We’ve completed the merger between VicSuper and First State Super, making us the second largest super fund in Australia (First State Super will change its name to Aware Super on 14 September). As a profit-to-member fund, Aware Super is proud to be managing more than $125 billion1 on behalf of more than 1.1 million Australians. Our VicSuper members are a very important part of our fund, with overall members from Victoria making up close to half our total membership.
There's no denying that 2020 has been an incredibly difficult year across the board, from the devastation wrought by fires and floods, and now the widespread impacts of the global COVID-19 pandemic. It's been a year of unprecedented challenge and uncertainty and all our lives have been touched. To all our members - the health care workers, the teachers, those continuing to provide essential services, and those who are making sacrifices to stay at home - thank you for your resilience and strength.
Our newly combined team has been getting on with doing exactly what we’re here to do – providing you with great value super and retirement products and services. And we’ve got plenty of news to share with you already.
Making a positive difference
This edition of VicSuper News showcases some of the positive impacts we’ve been making within the fund and how they’re designed to benefit our members and our communities. For example, we’re taking stronger action across the fund on climate change, and we’re strengthening our Socially Conscious investment option. Learn more.
Changes to our fees and costs
From 1 November, we’re also aligning the fee structure of VicSuper’s products with Aware Super’s products. See how it’s reducing costs for the vast majority of our FutureSaver members, and Flexible Income and Term Allocated Pension members.
Strong results in challenging times
It’s been a deeply challenging time for investments generally, but Aware Super is continuing to deliver strong long-term investment returns2 for our VicSuper members. Here you’ll find an update on the VicSuper product’s investment performance for the 2019/20 financial year for FutureSaver members, and one for our Flexible Income and Term Allocated Pension members.
Committed to Victoria
As we’ve said many times throughout this merger, our commitment to Victoria remains as strong as ever. Our existing Victorian-based member services, employer service and advice teams continue to be at your service. This commitment is also reflected in the way we’re investing further in Victorian communities. We’re supporting jobs growth with a co-investment in the $200m Victorian Business Growth Fund and investing in key community and urban regeneration projects including Bendigo Hospital and Two Melbourne Quarter. Find out more about how we are continuing to invest in Victoria.
And remember, we’re always here to help
We know that getting expert guidance and advice has the potential to make a big difference to your lifestyle in retirement. And it can give you a much-needed sense of control and peace of mind simply to know that you have a plan. Take a look at the expanded range of advice services we provide for members, and learn more about a fantastic new resource hub on our website: Discover and Learn. As always, if you’d like more information, or if we can help, don’t hesitate to give us a call on 1300 366 216. In the meantime, we hope you enjoy our first edition of VicSuper News and learning more about how we’re helping you achieve the future you’re planning for.
1As at 1 July 2020.
² Returns for the VicSuper FutureSaver Growth (MySuper) investment option were in the top 10 for the 1, 3, 7 and 10 year periods, and in the top quartile for the 1, 3, 7 and 10 year periods, as published in the SuperRatings Fund Crediting Rate Survey (SR50 MySuper Index) for 30 June 2020. This option is representative because it contains over half of total of the VicSuper division’s funds under management. Note that past performance is not a reliable indicator of future performance. These results were produced when VicSuper FutureSaver was offered by VicSuper Pty Ltd as the Trustee of the VicSuper Fund prior to the successor fund transfer to on 1 July 2020 when it became part of the VicSuper division of the First State Superannuation Scheme. Chart can be found at vicsuper.com.au/investments. Past performance is not a reliable indicator of future performance.
If you’d like more information, or if we can help, don’t hesitate to get in touch.