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Pros and Cons
- Extensive member education program.
- Personal service from friendly and knowledgeable staff.
- Solid investment returns from a range of ready-made and single asset class options.
- Unique understanding of Queensland local government and the needs of members while they work and the years beyond.
- Free annual investment update seminar.
- In-house administration.
LGIAsuper is an industry fund established in 1965 to cater to the retirement needs of current and former Queensland local government employees and their spouses, with membership now open to the general public. The LGIAsuper Pension Account opened in 1993 and requires a minimum initial investment of $50,000 to commence membership.LGIAsuper offers a range of 12 investment options to choose from, providing members with access to 5 Ready-Made and 5 Single Asset options, as well as 2 Socially Responsible options for the ethical investor. The fund also offers a MySuper Lifecycle option for members who have not made an investment choice. The Diversified Growth option outperformed the SuperRatings Index over all assessed time periods to 30 June 2020.Fees are lower than the industry average across small and medium account balances assessed, with the administration fee capped at $1,575 pa. Members are able to switch investment options at no cost. LGIAsuper provides good flexibility, with members having the ability to receive pension payments fortnightly through to annually. Members with more than one investment option can nominate the proportion of, or order in which, payments are to be drawn from each option. Beneficiary options are comprehensive, including binding and non-binding nominations, as well as reversionary pensions. LGIAsuper provides members with access to free seminars across Queensland, as well as a range of online fact sheets, calculators, educational videos, and comprehensive financial planning services. LGIAsuper's Member Online further allows members to perform transactions, as well as view and update account details.
LGIAsuper Fees and Features
Fund fees vs. Industry average
Fund past-5-year return vs. Industry average
Investment option performance
Popular pension funds products
AustralianSuper Choice Income Account
Strong long-term performance and low fees
Flexible investment choice - 11 options and the Member Direct
Free retirement seminars and webcasts
Full online account access at any time via PensionOnline with Mobile App available
QSuper - Income Account
Access to an industry first uncapped Income account transfer bonus.
Reversionary pensions allowed.
Access to an award-winning member contact centre.
Access to advice at no additional cost and over 550 free educational seminars.
Rest Allocated Pension
Low fees including no commissions paid to advisers, planners or accountants.
Access to non-commission based financial advice with members first call free.
Support available including CSM support, regular national seminars and factsheets.
Online facility with option of online statements, newsletters, product details and educational information.