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.

  • MySuper Other
Fund data valid as of February 29, 2016

Typical Fees

Balance This Fund Industry Average Difference
5k $127 $155 -$28
50k $451 $629 -$178
100k $811 $1,160 -$349

Investment Allocation

Intl shares 26.0%
Aus shares 32.0%
Property 4.0%
Alternative 16.0%
Fixed interest 14.0%
Cash 8.0%

Fees & Charges

Administration Fee ($) $91
Administration Fee (%) 0.30%
Investment Fee 0.42%
Switching Fee $0
Exit Fee $118.51
Account Size Discount No
Employer Size Discount No

Fund Features

Financial Planning Service
Health Insurance
Home Loans
Credit Cards
Binding Nominations
Non-lapsing Binding Nominations
Insurance Life Event Increases
Anti-detriment Payments
Long Term Income Protection

About this Fund

Membership 7,266
Total Assets $453,081,716
Year Started 2014
Target Market
Offered to Public? No
Fund Type Industry-MySuper

Fund Highlights - provided by Lutheran Super - MySuper

No information was provided by the fund to SuperRatings, Hence an alert rating may be given in areas where a qualitative assessment cannot be made. For available information refer to the fund's PDS.

Fund Rating Snapshot

  • Legend:
  • Excellent
  • Good
  • Average
  • Below Average
  • N/A

Rating Categories Clockwise from top

Performance is based on the past 5 years for their core balanced option
Investment Choices
Points scored on additional benefits to members ie: Home loans, Credit Cards, Health Insurance, Reverse Mortgage, shopping discounts, anti detriment payments and many others
Investment Processes
Points scored on contribution collection, via cheque, cash, Eftpos, Bpay, direct debit and other features
Small Account Fees
Points scored on the fees and charges based on an account size of $5k
Medium Account Fees
Points scored on the fees and charges based on an account size of $50k
Large Account Fees
Points scored on the fees and charges based on an account size of $100k
Death Insurance
Points scored on premium costs and features for Death Insurance ie: Min/Max level of cover, cover available during unpaid, whilst overseas, max age and other features
Death and TPD Insurance
Points scored on premium costs features for Death and TPD Insurance ie: Min/Max level of cover, cover available during unpaid, whilst overseas, max age and other features
Income Protection Insurance
Points scored on premium costs features for Income Protection insurance ie: Min/Max level of cover, cover available during unpaid, whilst overseas, max% on monthly salary, waiting days available and other features
Member Services
Points scored on additional benefits offered to members ie Statement frequency and newsletter communications and other features
Administration Services
Points scored on the fund structure ie switching between investments, selecting regular contributions, nominated beneficiary changes, changing insurance options. For Service features like call centre, adviser services reports and many other features.
Financial Advice
Points scored on features in respect to financial advice facilities offered ie, by phone, internet, face to face, cost of scaled advice and others.
Points scored on Trustee structure, number of independent directors , renumeration and proxy voting policy and risk

Score Explanation

Excellent: Score of 75%-100%
Premium performer in this area. Well above benchmark.
Good: Score of 51%-74%
Better than most funds. Above benchmark
Average: Score of 26%-50%
Placed close to benchmark
Below average: Score of below 25%
Not quite up to speed. Lower than benchmark.

Investment Option Performance

Asset Allocation Category FYTD FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 Comparison
Balanced -3.83%
  • Legend:
  • 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 30/06/2015, 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.

Option Type Percentage of Growth Assets
min-max %
High Growth 91-100%
Growth 77-90%
Balanced 60-76%
Conservative Balanced 41-59%
Capital Stable 20-40%
Secure 0-19%

What the researchers say

Lutheran Super 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 exercise investment choice. Lutheran Super's Balanced option underperformed the SuperRatings Index in 2015 and over the long term.

Lutheran Super's fees are competitive and lower than industry average across all account balances assessed. Members are entitled to unlimited free investment switches; however, additional transaction fees apply.

Members receive automatic Death, Total and Permanent Disability insurance cover that is competitively priced. 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. Members under the age of 65 have the option to increase their benefit payment period within 60 days of the date their cover commenced, without providing health evidence.

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.

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