Colonial First State Super Review

If you start the year with a $50,000 balance in your Colonial First State Super account, you'd be charged $395 in fees and costs, which equals 0.79% for the MySuper CFS Lifestage 1980-84 option. This fee structure places Colonial First State Super among low-fee super funds in Australia, helping members grow their retirement savings while keeping costs manageable.

One of the reasons many people choose Colonial First State Super is for its solid investment performance. The MySuper CFS Lifestage 1980-84 option launched in December 2023 and therefore does not have a significant performance history.

• 1-year return (as at 31 December 2024): 17.2%
• 5-year average return: N/A
• 10-year average return: N/A

Yes, Colonial First State Super allows spouse contributions. This means you can contribute to your spouse or partner’s superannuation account using after-tax (non-concessional) income. By making spouse contributions, you can help boost your partner’s retirement savings and potentially qualify for a tax offset. CFS provides flexible options for couples looking to maximise their retirement savings together.

In addition to spouse contributions, Colonial First State Super allows members to make voluntary contributions. These contributions can be made from your pre-tax salary (concessional) or after-tax income (non-concessional) to grow your super balance. CFS encourages voluntary contributions to help members take full advantage of potential tax benefits and grow their retirement savings faster. Check the Colonial First State Super website for more details on contribution limits and options.

If you’re ready to access your super, Colonial First State Super offers a straightforward withdrawal process. To withdraw from your CFS Super account, you’ll need to meet certain eligibility criteria, such as reaching the preservation age or qualifying under conditions like financial hardship. Once eligible, simply complete the Colonial First State Super withdrawal form available on their website.

No, Colonial First State Super does not offer a retirement bonus. While some super funds provide bonuses upon retirement, CFS focuses on offering competitive fees and solid investment returns to maximise members’ retirement savings over the long term.

Discover more about super retirement bonus schemes and explore our in-depth analysis on whether they provide real value for your retirement savings.

The trustee responsible for overseeing Colonial First State Super is Avanteos Investments Limited (AIL). AIL manages several CFS super products, including FirstChoice Super and pension products, as well as CFS Wrap super solutions. AIL is a wholly owned subsidiary of CFS, which is 55% owned by Kohlberg Kravis Roberts & Co. L.P. (KKR), with the Commonwealth Bank of Australia holding the remaining 45%.