First Super among first to achieve MySuper authorisation

First Super has received authorisation from industry regulator APRA to offer MySuper products. First Super was one of the first funds to lodge an application for authorisation at the start of this year.

First Super Co-Chair Michael O’Connor said “First Super has shown once again that small funds are just as capable as larger ones of meeting enhanced compliance requirements in a short time frame.”

First Super Co-Chair Allan Stewart added that “We have quality staff who just got on with the job, and this authorisation will mean we are able to offer products with enhanced member protections, in keeping with the philosophy behind the MySuper initiative.”

“Despite the myth of economies of scale, First Super will remain one of the lowest cost funds while delivering good service to members.”

First Super’s fees are already lower than most of the big funds’ on the standard comparative measures.