Choice of fund

Choice of Super Fund legislation provides most working Australians with the right to choose which super fund they wish to have their superannuation with. 

Am I eligible for ‘Choice’?

All working Australians are eligible to exercise ‘Choice’ except for people who are:

  • Working under a collective or workplace agreement 
  • In a public sector fund (however, some people may have choice), or
  • In a defined benefit fund (depending on the conditions of the fund).

If you are not sure what collective agreement, if any, you are covered by you can check with your employer or the government’s Fairwork website

How do I tell my employer which super fund I have chosen?

If you are eligible for ‘Choice’, your employer should provide you with a Standard Choice Form. This form allows you to choose which super fund your contributions are paid into. 

Another option you have is to write a ‘nomination letter’ containing all the necessary information needed by law to change funds. 

You are able to choose LUCRF Super as your superannuation fund by completing our Choice of Super Fund Form and returning it to your employer.  

How do I choose my superannuation fund?

Before making a choice you should compare the features and benefits of your current super fund, your employer’s default fund and any other funds you are considering. 

Some of the questions you should ask include:

  • What are the fees and charges?
  • Does the fund provide consistent and competitive long-term returns? 
  • Is there an adequate range of investment options to suit your changing needs?
  • How flexible are the insurance options? 
  • What other services do they provide you? 
  • Where do fund profits go - to shareholders or members? 
  • Do they pay third party commissions?

We can provide you with personalised financial advice. Simply call 1300 130 780 to speak to one of our friendly team members.

Do I have to choose a superannuation fund?

As an employee, you do not have to choose your own superannuation fund. If you don't, your superannuation contributions will be paid into your employer’s default fund (as chosen by your employer). The details of that fund are usually printed on the Standard Choice Form provided to you by your employer.