LESF Account-Based PensionInformation shown is for the rated option.
What the Researchers Say:
An OTHER rated fund usually has average or below average features and/or performance across a number of assessment areas. These funds frequently have many competitors that offer superior performance and structures in a more efficient environment.
You should contact your financial adviser and/or this fund directly before making an investment decision.
|Balance||This Fund||Industry Average||Difference|
Fees & Charges
|Asset Admin Fee||0.75%|
|Account Size Discount||No|
|Employer Size Discount||N/A|
|Financial Planning Service|
|Non-lapsing Binding Nominations|
|Insurance Life Event Increases|
|Long Term Income Protection|
About this Fund
|Offered to Public?|
|Fund Type||Industry-Allocated Pension|
Fund Highlights - provided by LESF Account-Based Pension
Investment Option Performance
|Asset Allocation Category||FYTD||FY 2016||FY 2015||FY 2014||FY 2013||FY 2012||Comparison|
- Outperformed average
- Underperformed average
- Negative returns
Annualised figures are the average per year returns of the rated option based on the cumulative returns for the past 5 years to 30/06/2016, past performance is not a reliable indicator of future performance. Performance and fee data is based on the option which is rated by SuperRatings and stated on each product's landing page.
Benchmark investment information - how performance is measured
To ensure comparability for consumers, the RateCity superannuation comparison is based on the asset allocation of each of the MySuper/Pension products, irrespective of the name of the investment option. This methodology allows consumers to compare products on a like for like basis and removes any ambiguities associated with the name of the investment option. For example, an investment option may be classified as growth, however its asset allocation may in fact mean it should be classified as high growth. By using the asset allocation as the dominant identifier, we believe this provides the most robust framework for consumers to compare funds and recognise that this is a consistent approach to that of SuperRatings methodology.
Percentage of Growth Assets
What the researchers say
Established in April 1989 as the Queensland Law Society Superannuation Scheme, LESF Super is a public-offer superannuation fund, with the aim to offer a simple yet effective superannuation solution to meet members' retirement needs. LESF Pension Plan commenced in November 2014. In February 2016, LESF Super completed its merger with the Managed Australian Retirement Fund.
The investment menu consists of six Diversified and Single-Sector investment strategies. The default Balanced option underperformed the SuperRatings Index in 2016, while long term returns are not available.
Fees associated with this product are lower than the industry average on small account balances assessed, but become more expensive than an average fund's fees across medium to large account balances assessed. However, no fixed dollar member fee is applied, and transaction fees are also not charged for withdrawals or investment switches.
LESF Pension Plan offers limited flexibility. Members have the choice of receiving their pension payments either monthly, quarterly, half-yearly or annually, with the payment date set by the fund. Reversionary pension and Non Lapsing Binding death benefit nomination options are also provided. A Transition to Retirement account is available to pre-retirees, with a minimum initial investment of $ 20,000 required.
LESF Super launched a new website in September 2014, featuring a Learning Centre for educational purposes as well as employer and member online capabilities.