Colonial First State (CFS) review
Retail super with a large adviser-distribution channel.
Who it's best for
Members working with a financial adviser who needs a broad menu.
The good
- Very wide Choice menu — over 50 investment options across FirstChoice and FirstWrap
- Popular with advised clients
The less-good
- MySuper default fee is on the higher side vs industry funds
- Some legacy products have materially underperformed and should be reviewed
The numbers in detail
| MySuper product | Lifestage |
|---|---|
| Asset mix | Lifestage — de-risks with age |
| Fixed admin fee | $85/yr |
| % fee (investment + indirect) | 1.10% |
| Insurance default | Default varies by product; typically opt-in on non-adviser tiers |
| Choice options available | 50 |
| APRA performance assessment | Mixed |
How Colonial First State (CFS) compares
Run Colonial First State (CFS) through our fund comparison tool alongside AustralianSuper, Hostplus, and UniSuper at your actual balance — the dollar fees at $50k can look very different at $250k or $15k, and the ranking sometimes flips. You can also project your own retirement outcome with its fee and return using the retirement projection calculator.
Switching to (or from) Colonial First State (CFS)
Switching supers involves four steps that matter: check the insurance you'd lose when closing, update your employer's Standard Choice form so SG flows to the right place, consolidate via myGov, and confirm the rollover lands. Our consolidation guide has the full walkthrough.
The official source
Always verify current fees, insurance terms and investment options on the fund's own PDS before making a decision. cfs.com.au has the latest. The figures on this page are indicative and updated periodically from the APRA heatmap and the fund's PDS.
General information only — not financial advice. Super decisions are long-term; verify with a licensed adviser. Figures on this page are indicative — verify on the fund's PDS.