Crediting rates
Industry Fund and Personal Plan
(Last Updated 05/07/2010)
LUCRF Pensions Crediting Rates are available here.
|
Investment option
|
Financial Year to Date
Final crediting rate for period 1 July 2009 to 28 June 2010 |
Historical
monthly rates |
|
Cash
|
2.97%
|
|
|
Property
|
18.83%
|
|
|
Balanced
|
7.51%
|
|
|
Indexed Shares
|
8.90%
|
|
|
Australian Shares
|
15.77%
|
|
|
International Shares
|
8.11%
|
Calculating investment returns
1. LUCRF Super values assets weekly and uses weekly rates to allocate net investment earnings to members.
2. Valuations typically occur each Monday during the month and at month end.
3. Valuations may not occur on a Monday for the following reasons:
a. When the first Monday of the month is within the first three business days of the month, the valuation is typically deferred to the following Monday.
b. When the last Monday of the month is within the last three business days of the month, the valuation is typically deferred to month end.
c. Where Monday is a public holiday, investments will be valued on the next business day.
4. The valuation process uses the closing prices in the Australian and overseas markets in which we have investments. Unlisted investments and real estate assets are valued less frequently. We use the most recent valuation available.
5. These rates allocate net investment earnings to members based on daily account balances. Investment returns are applied to members’ accounts:
• When a benefit is paid,
• When an accumulation balance is transferred to a pension account,
• When a change to investment options is processed, and
• Effective 30 June each year.
6. Financial year to date and historical rates are shown on this website.
How are annual returns determined on my account at the end of the financial year?
At the end of each financial year, we calculate the final returns on investments for our members. This percentage (positive if your option has made money, negative if it has not) is then applied to your balance and adjusted accordingly.
This process takes a couple of months after 30 June and once finalised, we send you a statement outlining how your account balance has performed over the course of the year (or since you joined if you are a relatively new member).
How are rates of return determined for payouts or rollovers during a year?
Rollover and Other Benefit Payments
Where members request rollovers to other superannuation funds, full or partial benefit payments, Departing Australia Superannuation Payments (DASP), Death and Total & Permanent Disablement payments, they will receive the latest rates (post date of receipt of the benefit payment request) and then the net cash rate to the date of payment.
Compassionate and Financial Hardship Payments and Under $200 Releases
These payments will receive the most recent rate and then the net cash rate to the date of payment.
Note: The net cash rate is the after-tax rate determined by LUCRF Super.
What will it cost to change my investment option?
There is no fee applied when you switch your investment options.
When will my change of investment option take effect and how are rates of return applied?
Member investment switches for existing balances and future contributions received on our Member Investment Choice form take effect as follows:
Existing Balances
For an existing balance, a change is effective the day after the valuation of assets, for those request forms received by 5pm EST on the day of valuation. Assets are typically valued on a Monday (see below).
Future Contributions
For future contributions, a change is effective the day after a request for investment change is received.
Returns on LUCRF Super investment options (% p.a. after tax and expenses)
2003
2004
2005
2006
2007
2008
2009
2007-2009
2005-2009
2000-2009
(16.78)
-
-
(16.19)
-
(16.80)
-
(34.40)
-
-
-
* Australian Fixed Interest Investment Option closed 1st April 2008
Please note that the Balanced, Cash and Indexed Shares investment options were previously known as Balanced Plus, Cash Plus and Shares Plus options.
