Lutheran Super - Account Based Pension

Lutheran Super is the superannuation fund dedicated to the benefit of employees & former employees of the Lutheran Church of Australia and their spouse. The Pension category provides members with a regular income stream in retirement. A minimum initial investment of $50,000 is required to commence membership.The investment menu consists of 8 investment options, including 2 Socially Responsible investment options for the ethical investor. Lutheran Super's Balanced Growth option underperformed the SuperRatings Index over the 10 year period to 30 June 2018.Lutheran Super's fees are lower than the industry average across all account balances assessed. An exit fee applies for withdrawals, while investment switches are free of charge. Members are restricted to monthly pension payments, which are paid on a set date each month and made by Electronic Funds Transfer. Members with more than one investment option can nominate the proportion of payments to be drawn from each option. Beneficiary options include binding, non-binding and reversionary death benefit nominations. Lutheran Super offers a range of calculators, educational webinars and reporting publications on its website. Members can also access their account online and perform transactions.