LUCRF News
Aussie award for LUCRF Super CEO
2 February 2010
Australia Day 2010 brought a proud moment for LUCRF Super CEO, Mr Greg Sword. Mr Sword was awarded the Member of the Order of Australia (AM) in recognition for outstanding achievement and service, through his role in lobbying for the rights of everyday workers through his long-standing involvement with the National Union of Workers (NUW). In 1978, the then Federated Storemen and Packers Union (FSPU), now the NUW, founded Australia’s first industry super fund, LUCRF Super.
The fundamental objectives driving the formation of the Fund were to preserve the rights of the average Australian worker, in a time where superannuation was primarily a privilege for the white collar worker. The Union movement pushed that the employee should have the right to choose which Fund they wanted to be in, that their super was portable and could be taken with them from job to job, and that full vesting of all amounts contributed remained the members’ super benefit. This essentially provided fair retirement benefits for all and set the framework for modern day superannuation in Australia.
Mr Sword has been actively involved in the Union Movement for over 30 years and today holds board positions for various foundations which reflect his principles of giving back to the community in order to better serve the Australian people. Mirroring his attitude towards giving back to the community, LUCRF Super supports various initiatives including the St Vincent’s ‘Opera in the Market’, with proceeds helping worthwhile charities, and affiliations with the National Jockey Trust and the Australian Professional Footballers’ Association. These initiatives not only give back directly to the community, but also educate about the importance of financial security and planning for later life.
The Order of Australia is the pre-eminent way Australians recognise the achievements and service of their fellow citizens, and is awarded twice annually. For Mr Sword this is a huge honour which reaffirms the importance of his drive to provide a better life for ordinary Australians.
NEW awards
27 January 2010
LUCRF starts the year on a high
LUCRF Super has been officially recognised as a stand-out superannuation provider, receiving the SuperRatings Platinum award yet again for the Pension and Super products.SuperRatings is an independent ratings agency that assesses over 500 of Australia’s largest multi-employer super funds, personal super and pension funds. These funds collectively represent almost 10 million Australian superannuants and close to $500 billion of Australians’ money.
The awards recognise excellence across Industry, Commercial Master Trusts, Public Sector and Corporate Funds that may be approaching ‘public offer’ status. Stringent criteria are used including Investment, Fees and Charges, Administration, Advice, Governance, Insurance, and Qualitative Overlay.
For the first time, LUCRF Super has received the highly regarded Chant West 5 apples rating, for both the Personal Super and Pensions plans.
Chant West is an independent specialist superannuation research and consultancy firm providing assessment of superannuation funds. The 5 apples rating is the highest possible rating (5 highest to 1 lowest), indicating excellence across a range of criteria.
The Chant West rating considers organisational strengths, investments, fees, insurance, administration, member services and employer services as the main criteria.
These awards reconfirm the quality of LUCRF Super’s products across their portfolio and provide assurance to our members that our interests are to better serve them.
Click here to view our Awards page.
LUCRF Super partners PFA
10 July 2009
LUCRF Super is pleased to have formed a partnership with the Australian Professional Footballers’ Association (PFA).
This new partnership means that LUCRF Super will become the PFA’s partner for member superannuation needs. The Fund will provide superannuation education to Australian footballers through the PFA’s My Football Career program and will support the PFA’s activities and community initiatives.
LUCRF Super goes live with new administration platform
25 May 2009
LUCRF Super, Australia’s first industry super fund, has confirmed it has gone live with its new administration platform, DST Global Solutions’ product Bluedoor.
The Fund went live with the platform on 15 April, five days before the scheduled date.
LUCRF Super cuts Pension fees
4 February 2009
LUCRF Super, Australia’s first industry super fund, has significantly cut the fees of LUCRF Pensions, aligning them with its superannuation accounts.
The new fee arrangement has reduced the fees for every single LUCRF Pensions member, with some saving several thousand dollars per year.
High achiever in tricky climate
LUCRF Super has been celebrated as a strong and long-term performer by two independent agencies.
25 November 2008
The Fund has had its rating upgraded to Platinum, the highest level possible, and also been recognised as a finalist for SelectingSuper’s Long Term Performance Award.
The commendations recognise the Fund’s ongoing focus on expanding its member services, particularly in the area of financial literacy, as well as the long-term performance of the Fund since its inception in 1978.
Our new home
LUCRF Super has moved to new offices in Melbourne's Docklands precinct.
Over the past 15 years our offices have been located in North Melbourne and the fund has since grown and expanded.
Our new facilities will allow members to visit and take care of anything to do with their superannuation or pension needs. The new building has also been built with the intention of significantly reducing our carbon foot-print and further expanding our services.
Our new premises at Docklands will allow members to have easier access to the fund where you can visit our fully-functional shop front or attend one of many in-house educational seminars to help them stay informed about super.
Industry pioneer chooses new tech platform partner
18 August 2008
Australia’s first industry super fund, LUCRF Super, has appointed Bluedoor Technologies to provide the fund’s administration technology solutions. The new partnership allows one of the few fully self-administered Funds to bolster its services.
Celebrating 30 years of super leadership
14 July 2008
The birth of the modern superannuation system was celebrated at the Westin Hotel in Sydney on Thursday 10 July, when three decades of pioneering super leadership from LUCRF Super – Australia’s first industry super fund – was commemorated by around 320 guests.
LUCRF Super Increases Insurance Cover At No Extra Cost
9 April 2008
Members of LUCRF Super, Australia’s first industry fund, are big winners from a new deal on insurance arrangements between the fund and its insurer, ING Life.
Members will now enjoy far greater insurance coverage than ever before, while premiums remain the same- giving LUCRF Super members more return for the same outlay.
LUCRF Super signs the UNPRI
November 2007
LUCRF Super is proud to have signed the United Nations Principles for Responsible Investing, joining other global investors with Funds Under Management (FUM) totalling over $US10 trillion. We are publicly committed to the Principles promotion of more sustainable markets and long term investments using environmental, social and corporate governance (ESG) issues to improve investment practices.
For further information on the Principles click on the image above.
