Crediting rates
LUCRF Super Industry Fund and Personal Plan Crediting Rates are detailed below.
LUCRF Pensions Crediting Rates are available here.
Crediting Rates: (Last Updated 26/06/2008)
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Investment option
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Financial Year to Date
Final crediting rate for period 1 July 2007 to 23 June 2008 |
Historical
monthly rates |
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Cash
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5.28%
|
|
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Property
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(31.86%)
|
|
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Balanced
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(5.23%)
|
|
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Indexed Shares
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(14.79%)
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|
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Australian Shares
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(11.33%)
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|
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International Shares
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(16.79%)
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How are annual returns determined on my account at the end of financial year (EFY)?
Returns are calculated each week, based on the total investment earnings of each option. LUCRF Super typically sets final weekly declared rates on each Thursday for the preceding Monday. LUCRF Super also sets the declared monthly rates by the fifth working day of the following month. These rates are used to calculate the declared rates that are credited to your LUCRF Super account at the end of financial year (30 June) based on your daily account balance during that year.
The declared rates for a particular year will depend on your investment option and the performance of investment markets over the course of that year and that you were invested in that option for the full twelve month period.
How are rates of return determined for payouts or rollovers during a year?
Rollover and Other Benefit Payments
Effective from 1st February 2008, where members request rollovers to other superannuation funds, full or partial benefit payments, Departing Australia Superannuation Payments (DASP), Death and Total & Permanent Disablement and Under $200 releases, they will receive the latest weekly declared rate (post date of receipt of the benefit payment request) and then the net cash rate to the date of payment.
Compassionate and Financial Hardship Payments
Effective from 1st February 2008, payments for Compassionate Grounds (APRA approved) or Severe Financial Hardship will receive the most recent declared rate and then the net cash rate until the date of payment.
Note: The net cash rate is the after-tax rate determined by LUCRF Super.
What will it cost to change my investment option?
There is no fee applied when you switch your investment options.
When will my change of investment option take effect and how are rates of return applied?
Member investment choice switches will apply with effect from the Monday after the receipt of an Application to Change Investment Option Form at a LUCRF Super office. If the Monday is a Public holiday in Melbourne, then the switch will apply from the next working day. LUCRF Super typically sets final weekly declared rates on each Thursday for the preceding Monday.
The Fixed Interest, Property, Australian Shares and International Shares options were introduced on 22 July 2005. Therefore not all historical performance figures are available.
The Australian Fixed Interest option was closed on 1st April 2008.
Returns on LUCRF Super investment options (% p.a. after tax and expenses)
2001
2002
2003
2004
2005
2006
2007
2005-2007
2003-2007
* Australian Fixed Interest Investment Option closed 1st April 2008
Please note that the Balanced, Cash and Indexed Shares investment options were previously known as Balanced Plus, Cash Plus and Shares Plus options.
