LUCRF Super’s response to COVID-19

Updated: 24/03/2020

There’s been significant impact on the Australian and international financial markets and the global economy, which has been driven by the COVID-19 (coronavirus) global pandemic.

These are unprecedented times and we understand that many of our members have concerns regarding the impact this may have to super and pension balances.

It’s important to keep in mind:

  • Super is a long-term investment.
  • Before changing investment options based on short-term market fluctuations, you should consider what the impact could be on your future retirement balance.
  • We’ve been here before. Our investment team is highly experienced at managing investments through a diverse range of market conditions.
  • There’s value in maintaining a steady investment focus.
  • You should consider your investment horizon.
  • Before making any changes to your investment strategy, we recommend you speak with one of our Financial Advisers at no cost.

What should I do with my super?

Already retired or approaching retirement

  • You can find information here about how investment markets and the economy move in cycles and why it’s important you carefully consider any changes you make to your investment options.
  • There are a number of things to consider before you move to a more conservative investment option and we encourage you to seek financial advice to get a full picture.
  • To speak with a LUCRF Super Financial Adviser at no cost, please call us on 1300 130 780.

Retirement far away

  • Doing nothing is an investment strategy in itself.
  • Market downturns are temporary, even if they’re severe in the short-term.

  • You can find information here about how investment markets and the economy move in cycles and why it’s important you carefully consider any changes you make to your investment options.
  • Before you make any change to your super investment strategy, you should seek financial advice.
  • To speak with a LUCRF Super Financial Adviser at no cost, please call us on 1300 130 780.

Temporary early access to super

For members seeking the latest details regarding the Temporary Early Access to Super as announced by the Federal Government on Sunday 22 March 2020, please refer to the Australian Government’s official Fact Sheet for eligibility and more details as they emerge.

The announcement results in temporary changes to the early release conditions for individuals as part of the Government’s economic response to COVID-19 (coronavirus).

The Government is allowing individuals financially affected by COVID-19 (coronavirus) to access up to $10,000 of their superannuation in 2019-20, and a further $10,000 for approximately 3 months in 2020-21.  No tax will be payable on any released amounts.  Eligibility criteria applies.

Contacting us

In line with Government recommendations, we’re taking preventative measures to safeguard the health and safety of all our members and staff. Whilst our offices are closed to the public until further notice, our friendly Contact Centre, qualified Financial Advisers and experienced Business Development Managers are available to members and employers over the phone, email or via online conferencing.

Our Contact Centre team is operating according to normal hours. However, we ask for your patience as we’re experiencing higher than normal call volumes.  

If you’re unable to reach us by phone, please email us at mypartner@lucrf.com.au and we’ll get back to you as soon as possible.

If you’d like to speak to one of our Financial Advisers, please use our online booking form to request an advice call.

Contact Centre

1300 130 780

8.30am to 6pm (AEST) Monday to Thursday
8.30am to 5pm (AEST) Friday

Email

mypartner@lucrf.com.au

As information about COVID-19 becomes available, it will be updated in this section.

This is general information only and has been prepared without taking into account your personal financial situation, objectives or needs. General information is not advice. You should assess your personal financial situation before making a decision about LUCRF Super. To help you decide we recommend you read our current Financial Services Guide (FSG) and Product Disclosure Statement (PDS).