Governance

The primary purpose of LUCRF Super (also referred to as the Fund) is to maximise the retirement benefits of its members.

To achieve this, the Trustee must ensure the Fund is well governed.

Read our Governance Summary.

The Trustee of LUCRF Super is L.U.C.R.F Pty Ltd. The Trustee holds a Registrable Superannuation Entity (RSE) licence from the Australian Prudential Regulation Authority (APRA) and an Australian Financial Services Licence (AFSL) issued by the Australian Securities and Investment Commission (ASIC).

This allows the Trustee to provide general financial product advice to its members. The Trustee also holds indemnity insurance to protect the Fund from legal action.

LUCRF Super is governed by a Trust Deed, which is a legal document that sets out the rules for running a super fund, and what the Trustee can and can’t do.

View our Trust Deed

Register of relevant duties and interests

The Trustee maintains a Register of Relevant Duties and Relevant Interests for itself, its responsible persons and associates.

A relevant duty is, for example, other Directorships or employment that an individual may hold, and a relevant interest is, for example, major shareholdings.

Relevant duties and relevant interests will be disclosed in the register for as long as the Trustee, responsible person or associate has the relevant duty or interest.

View our Relevant Duties and Relevant Interests Table.

Conflicts management policy

LUCRF Super has developed a conflicts managements framework that identifies, avoids and manages conflicts of duty and interest. A policy is in place which reflects the Trustee’s legal and regulatory obligations and the Trustee’s commitment to the interests of beneficiaries. It applies to the entirety of its business operations. The policy includes examples of conflict situations, the process if a conflict does arise, declarations which are made on an annual basis and details of determining a relevant duty and interest.

You can find out more about this in the Conflicts Management Policy.

Significant Event Notice

We have a responsibility to tell our members about material changes to the Fund that may affect their account.

This could be a change to fees and costs, a change to insurance cover or premiums, or where a member’s benefit may be transferred without their consent.
The message sent out to affected members, telling them about the decision and its impact, is called a significant event notice.

We usually communicate these notices via our LUCRF Super newsletters.
Timing of a significant event notice:

  • Change or event that does not relate to an increase to a fee or charge will be sent as soon as possible, but not later than three months after the change or event occurs, or
  • Change or event that does increase a fee or charge will be sent at least 30 days before it occurs.

View  Significant Event Notice.

Annual Report & Financial Statement

As an industry fund, our sole purpose is to look after members' interests. We don't have shareholders that we have to share profits with, therefore more profit goes to our members.