Find a range of questions and answers about First State Super’s name change and what this means for you.
Why did First State Super change its name?
Over the last few years, First State Super has been managing two brands under the First State Super banner – First State Super, now Aware Super (super fund) and StatePlus (advice business). First State Super then merged with VicSuper in July this year and will merge with WA Super later in the year.
As we look to the future, we’ve thought deeply about the need to create a single brand. One recognisable brand is more cost-effective to build and support over time. We are very conscious of our responsibility to spend our members’ funds prudently. By consolidating under one brand, we’re able to amplify our impact and achieve greater economies of scale.
Why did First State Super choose the name Aware Super
It’s a brand and name that reflects who we are and who we strive to be in the future. It’s a name we chose together in consultation with many of our members and a name that members liked because it clearly signals our action and intention.
Aware Super echoes our core purpose (to be a force for good, shaping the best outcomes for our members, their families, communities and the superannuation industry).
Aware Super celebrates and honours the spirit and actions of all our members. The extraordinary Australians, who we are proud to serve. It also demonstrates our ongoing commitment to action and impact – for our members, their communities and the world we live in. Because we are aware our:
- Members pay low fees1 and receive strong long-term returns2, without compromising on the integrity of the way we invest.
- Members access their super through our intuitive award-winning app3, over the phone or face to face via our dedicated service teams in more than 40 offices.
- Members benefit from easy access to the industry’s most comprehensive range of quality financial advice and education services.
- Members’ assets are invested responsibly to improve our communities, build a more sustainable economy and support employment both locally and globally. Aware Super is simply a name that describes who we’ve always been.
Aware Super is simply a name that describes who we’ve always been.
2. Our Accumulation Fund Growth option delivered a 10 year return to 31 May 2020 of 7.77% (SuperRatings Fund Crediting Rate Survey for the SR50 Balanced (60-76) Index), compared to the 10 year return of the Super Ratings SR50 Balanced (60-76) Index median (50 funds) of 7.13% for the same period. Returns are net of investment fees, tax and implicit asset-based administration fees. Past performance is not a reliable indicator of future performance.
3. Awarded Gold at the 2019 Sydney Design Awards for the category Digital - New Service or Application.
Will VicSuper members be impacted?
The First State Super brand will transition to Aware Super from mid-September, however VicSuper members and employers will continue to see the VicSuper brand on all our correspondence and on our offices in metropolitan and regional locations.
Will there be a change to my member numbers?
No, members of VicSuper will retain their existing active member number.
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