5 ways LUCRF Super makes retirement better

1. Do you want more money in your super?

If you make a personal contribution into your super account by the end of the financial year you could boost your super by $500! 
It’s all part of the Government’s Super Co-Contribution scheme. And don’t forget, all personal and government contributions are tax free!

Find out if you're eligible for a super co-contribution here


2. Consider boosting your super

Do you currently make contributions into your fund?  In recent years there’ve been several cuts in contribution caps which has made it harder to top up your account. Now, anyone eligible to make a personal contribution may be able to claim a tax deduction!  

What’s the current concessional contribution?

$25,000 which includes contributions made by your employer. 

But I didn’t make any additional contributions last financial year!

You’re not alone! The good news is the government is allowing catch-up contributions from this financial year onward. This means if you have a good year or come into a windfall, you might be able to make extra contributions and put more into super and manage your tax liabilities at the same time. 

Who’s eligible? 

You must be under 65, or 65-74 and meeting the work test requirement of 40 hours  of gainful employment within a consecutive 30-day period or work test exemption (additional 12-month period from the end of the last financial year where you did meet the work test and your super balance is less than $300,000).
You must have a total super balance of less than $500,000 as of 30 June 2018.


John is eligible to use the catch-up concessional contribution measure. In 2018-19 his employer contributed $8,000 of superannuation guarantee contributions and he made no further personal contributions. John can carry forward the unused cap of $17,000 to provide him with a concessional contribution cap of $42,000 in 2019-20 (that’s the normal $25,000 cap plus the $17,000 carried forward). If John contributes $10,000 in 2019/20 he could claim a taxable deduction of $10,000.

3. Our competitively priced pension products

Are you at or nearing retirement? 

Our lower than average fees mean we have one of the most competitive pension products in Australia.
A LUCRF Pension is a convenient, tax-effective way to convert your super and other savings into regular pension payments  at low cost, whilst still investing for future growth.  

If you want to find out more about our  pension products call us on 1300 130 780.


Balance at retirementLUCRF Super fees & costs* (1 Oct 2019)Median fees and costs* (across industry, retail, government funds)
Source: SuperRatings SMART database (1 October 2019)
*  Fees and costs includes all administration fees, investment fees and direct costs (net of tax).
LUCRF Super investment fees and direct costs are based on the ‘Balanced’ investment option.
Comparison fund investment fees and direct costs are based on the default product investment option.

4. More good news for fees!

We’ve gotten rid of our exit fee and implemented a 3% total fee cap for members with a low account balance.

What does this mean? If your balance is under $6,000 your fees won’t exceed 3%. This is in line with the government’s Protecting Your Super package, designed to protect Australian’s super savings from being eroded by fees. Not only do we fully support this legislation, we’ve taken it one step further. We’ve introduced an upper cap of $495 per year for our variable administration fee, which kicks in once your balance hits $275k! Less fees means more savings for your retirement. It’s just one of the ways we’re working for your financial future. 

5. Changes afoot

  1. We’re working on a new website that you’ll be able to navigate and find information easily.
  2. A new Members Online secure portal launching early 2020. New features include locating and combining lost super and retrieving your member number. 
  3. Online join – want to refer a friend or family member to join the super fund that’s working for a better future? You can do this online!
  4. Our mobile app – we’re currently working on some exciting face recognition technology. Logging in will be easier and more secure for you.
  5. Digital communications – from mid-November you’ll be notified by email if there’s correspondence waiting for you in the Members Online portal (as long as we have a valid email). If you’d like to reduce your carbon footprint you can login to the portal and update your preferences there.