Self-employed members

Are you self-employed?

When you’re employed by someone else, they make compulsory super contributions on your behalf. But when you’re self-employed it’s up to you to build your own retirement nest egg.

Fortunately, you can join as a personal plan member and enjoy all the benefits of being with LUCRF Super.

Why contribute to super?

There are many reasons to contribute to super if you’re self-employed:

Tax savings

  • All concessional super contributions are taxed at 15% (much lower than most people’s personal income tax margin).
  • You can also claim a deduction for your super contributions. You can contribute $25,000 in concessional (pre-tax) contributions and an additional $100,000 in non-concessional contributions (those you can not claim a deduction for). These payments can be made via EFT or BPAY.
  • You will need to complete a ‘Notice of intent to claim or vary a deduction for personal super contribution’ form (NAT71121)  and lodge it with us by 30 June each year. This form is available on the ATO website.

Investment performance

  • You can investment in a range of assets and mix and match from our investment options. You’ll enjoy investment returns generally superior to any bank savings accounts.

Lock away your retirement savings

  • Without an employer making compulsory super contributions, it can be easy to prioritise other expenses and spend any extra money you have. Contributing to super ensures you are saving for retirement. Unlike having a savings account, you can’t be tempted to dip into it for everyday expenses. This can be a good thing if you are like most people and spend what you earn without too much thought for tomorrow.

Be covered for the worst-case scenario

We offer three types of insurance – Death & Total and Permanent Disablement (TPD), Death Only and Income Protection.

As a personal plan member you can apply for insurance by completing a Member Insurance Election Form and OnePath Personal Statement. Please note you won’t be automatically covered as a personal plan member, so remember to complete these forms when you join.

Want to maximise your super contributions?

As a LUCRF Super member you can access personal financial advice. Call us on 1300 130 780 and speak to one of our advisers.

Set up a Personal Plan with us today and watch your hard-earned money grow to support you in retirement.