Lutheran Super - MySuperInformation shown is for the balanced 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
|Administration Fee ($)||$91|
|Administration Fee (%)||0.30%|
|Account Size Discount||No|
|Employer Size Discount||No|
|Financial Planning Service|
|Non-lapsing Binding Nominations|
|Insurance Life Event Increases|
|Long Term Income Protection|
About this Fund
|Offered to Public?||No|
Fund Highlights - provided by Lutheran Super - MySuper
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
Lutheran Super was established as a Superannuation fund for employees of the Lutheran Church and their families.
The fund is MySuper authorised, and from January 2014, the existing Balanced option is the default MySuper offering for members who don't make an investment choice. Lutheran Super's Balanced option underperformed the SuperRatings Index over the short and long term.
Lutheran Super's fees are lower than the industry average across all account balances assessed. Members are entitled to unlimited free investment switches; however, an exit fee applies.
Members receive automatic Death, Total and Permanent Disability insurance cover upon joining the fund. Income Protection (IP) is also available for members working above the minimum required 15 hours per week and provides up to 84.5% (including 9.5% SG) salary coverage up to a maximum benefit of $30,000 per month. IP options include benefit periods of 2 years, 5 years, to age 65 and to age 67 with 3 levels of income cover, all under a 90 day waiting period.
The funds' website incorporates improved navigation functionality, educational material and tools for retirement planning, budget planning, salary sacrifice and co-contributions, as well as financial literacy.