Our response to COVID-19
We understand that the impact of COVID-19 (Coronavirus) is creating challenges for members and the broader community, and, as a result, we’re all adjusting to the changes in our daily lives.
In these times of uncertainty and significant investment market volatility, we encourage members to remain calm. Our investment team is highly experienced at managing investments through a range of market conditions - and is ready to respond to changes as needed.
While it’s still too early to know the full impact of COVID-19, as a Fund we are carefully monitoring the situation and are well prepared.
We’ve adopted a strong and considered approach to managing the impact of COVID-19 based on:
- the health and safety of our team
- the ongoing operation of our Fund, and
- the provision of service for members and employers.
We’re closely monitoring advice from the World Health Organisation (WHO), the Australian Government Department of Health, Department of Foreign Affairs and Trade (DFAT) and local state health authorities in respect to appropriate responses to COVID-19.
We’ll continue to put our members first and keep you updated as the situation evolves.
Chief Executive Officer, LUCRF Super
Remaining calm in the face of market volatility
There’s been significant impact on the Australian and international financial markets and the global economy, which has been driven by the COVID-19 (Coronavirus) global pandemic.
These are unprecedented times and we understand that many of our members have concerns regarding the impact this may have to super and pension balances.
It’s important to keep in mind:
- Super is a long-term investment.
- Most members are invested in a diversified investment option which are generally less volatile than any single asset, like the share market, for example.
- Before changing investment options based on short-term market fluctuations, you should consider what the impact could be on your future retirement balance.
- We’ve seen similar challenging times in the past. Our investment team is highly experienced at managing investments through a diverse range of market conditions.
- There’s value in maintaining a steady investment focus.
- You should consider your retirement timeline before making short-term decisions.
- Accessing your super early could result in any insurance currently in place being cancelled.
- Before making any changes to your investment strategy, we recommend you speak with one of our Financial Advisers, at no cost.
What if I'm affected financially by COVID-19?
If you're experiencing financial stress as a direct result of COVID-19, the Government is providing a range of financial assistance options. These include:
Will COVID-19 impact my insurance?
As COVID-19 continues to raise concerns, it is natural you’d have questions relating to your insurance cover.
To learn about what's covered and how to make a claim head to – ‘COVID-19 and your insurance.’
Please visit our Frequently Asked Questions (FAQs) page for answers to some of the most commonly asked questions on how COVID-19 might impact your super - COVID-19 FAQs.
In line with Government recommendations, we’re taking preventative measures to safeguard the health and safety of all our members and staff. Whilst our offices are closed to the public until further notice, our friendly Contact Centre, qualified Financial Advisers and experienced Business Development Managers are available to members and employers over the phone, email or via online conferencing.
Learn more about our business continuity plan while maintaining staff health and safety here.
Our Contact Centre team is operating according to normal hours. However, we ask for your patience as we’re experiencing higher than normal call volumes.
If you’re unable to reach us by phone, please email us and we’ll get back to you as soon as possible.
If you’d like to speak to one of our Financial Advisers, please use our online booking form to request an advice call.
8.30am to 6pm (AEST) Monday to Thursday
8.30am to 5pm (AEST) Friday
As information about COVID-19 becomes available, it will be updated in this section.
This is general information only and has been prepared without taking into account your personal financial situation, objectives or needs. General information is not advice. You should assess your personal financial situation before making a decision about LUCRF Super. To help you decide we recommend you read our current Financial Services Guide (FSG) and Product Disclosure Statement (PDS).