Labour union cooperative retirement fund, now merged with AustralianSuper.
LUCRF Super is an industry superannuation fund regulated by APRA. Established in 1978, the fund is headquartered in VIC and operates under RSE Licence L0002035. The trustee responsible for managing the fund is AustralianSuper Pty Ltd.
| Detail | Value |
|---|---|
| ABN | 65 714 394 898 |
| RSE Licence | L0002035 |
| Trustee | AustralianSuper Pty Ltd |
| Legal Name | AustralianSuper Pty Ltd (formerly LUCRF Super) |
| Established | 1978 |
| Headquarters | Level 33, 50 Lonsdale Street, Melbourne VIC 3000 |
| Fund Type | Industry |
| USI | LUC0100AU |
| Member Services Phone | 1300 300 273 |
| Website | https://www.australiansuper.com |
LUCRF Super manages $10 billion in assets under management, serving approximately 140 members across approximately 15,000 employers. This makes it a smaller fund in the Australian superannuation landscape.
LUCRF Super is a smaller, specialist fund. While this means less scale advantage when negotiating investment fees, it often translates to more personalised service and a stronger connection to its specific member community. Members should weigh the benefits of industry-specific focus against the potential cost savings available at larger funds.
LUCRF Super's MySuper option charges a total fee of $406 per year on a $50,000 balance (0.68% of a $50,000 balance). On a $100,000 balance, annual fees come to $721. The fee structure includes a fixed administration component plus percentage-based investment and indirect cost charges.
| Fee Component | Amount |
|---|---|
| Administration Fee (Flat) | $91 p.a. |
| Administration Fee (%) | 0.10% |
| Investment Fee (MySuper) | 0.48% |
| Indirect Cost Ratio | 0.05% |
| Buy/Sell Spread | 0.10% |
| Performance Fee | No |
The table below shows how LUCRF Super's total annual fees scale with your account balance. Funds with a higher flat fee component tend to be proportionally more expensive at lower balances.
| Balance | $10,000 | $25,000 | $50,000 | $100,000 | $250,000 | $500,000 |
|---|---|---|---|---|---|---|
| Annual Fee ($) | $154 | $248 | $406 | $721 | $1,666 | $3,241 |
| Fee as % of Balance | 1.54% | 0.99% | 0.81% | 0.72% | 0.67% | 0.65% |
The Balanced option has delivered a 10-year annualised return of 7.5%, which is broadly in line with the industry median for MySuper products. This suggests the fund has been a reliable performer without standing out significantly in either direction.
| Period | Return (p.a.) |
|---|---|
| 1 Year | +10.5% |
| 3 Years | +7.2% |
| 5 Years | +7.0% |
| 7 Years | +7.5% |
| 10 Years | +7.5% |
The following table shows the annual returns for LUCRF Super's Balanced option for each financial year. This allows you to see how the fund performed during both strong market years and downturns, including the COVID-19 sell-off in FY2020 and the inflation-driven correction in FY2022.
| Year | FY2015 | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Balanced | +9.5% | +3.5% | +11.5% | +9.2% | +7.5% | -1.0% | +18.5% | -3.5% | +9.5% | +8.0% |
LUCRF Super offers 6 investment options spanning pre-mixed diversified portfolios and single-sector choices. Each option carries a different risk profile and fee structure. The asset allocation doughnut charts below show the mix of growth and defensive assets within each option.
| Type | Risk Level | Total Fee | 1yr | 5yr | 10yr |
|---|---|---|---|---|---|
| Pre-mixed | 5 — Medium to High | 0.68% | +10.5% | +7.0% | +7.5% |
LUCRF Super provides default insurance cover through TAL Life Limited. Most members are automatically enrolled in death and TPD cover when they join, while income protection is typically opt-in. Insurance premiums are deducted directly from your super balance, which means you do not pay out of pocket but your retirement savings are reduced over time.
| Cover Type | Details |
|---|---|
| Insurer | TAL Life Limited |
| Death Cover | Yes — opt-out |
| TPD Cover | Yes — opt-out |
| Income Protection | Yes — opt-in |
| Default Death Cover (age 30) | $200,000 |
| Default TPD Cover (age 30) | $150,000 |
The following table shows estimated annual premiums for LUCRF Super's default death and TPD cover at various ages. Premiums increase significantly with age as the risk of claims rises. These are indicative figures for a standard occupation category.
| Age | Age 25 | Age 30 | Age 35 | Age 40 | Age 45 | Age 50 | Age 55 | Age 60 |
|---|---|---|---|---|---|---|---|---|
| Annual Premium | $145 | $245 | $400 | $615 | $960 | $1,480 | $2,200 | $3,100 |
APRA (the Australian Prudential Regulation Authority) publishes an annual MySuper Product Heatmap that assesses each fund across fees, investment returns, and sustainability. The heatmap uses a traffic-light system to flag products that may be underperforming relative to peers. Here is where LUCRF Super's MySuper option sits on the latest heatmap:
A "Below median" fee rating means the fund's fees are lower than the typical MySuper product — which is positive for members. An "Above median" return rating indicates the fund has delivered stronger returns than the median fund. A "Performing" sustainability rating means APRA has not identified any concerns about the product's long-term viability.
LUCRF Super is led by CEO Paul Schroder. The board comprises 13 directors, with equal representation of 5 member-elected and 5 employer-appointed directors, plus 3 independent directors. As an APRA-regulated fund, LUCRF Super must meet strict governance standards including director fitness and propriety requirements, risk management frameworks, and regular independent audits.
| Role | Details |
|---|---|
| CEO | Paul Schroder |
| Chief Investment Officer | Mark Delaney |
| Member-Elected Directors | 5 |
| Employer-Appointed Directors | 5 |
| Independent Directors | 3 |
Major mergers: Merged into AustralianSuper (2022)
LUCRF Super maintains a formal ESG policy and has committed to a net-zero emissions target by 2050. As a signatory to the United Nations Principles for Responsible Investment (UN PRI), the fund has committed to incorporating ESG factors into its investment decision-making.
| ESG Criteria | Status |
|---|---|
| ESG Policy | Yes |
| Net Zero Target | 2050 |
| UN PRI Signatory | Yes |
| ACSI Member | N/A |
| Fossil Fuel Exclusion | N/A |
| Tobacco Exclusion | N/A |
| Weapons Exclusion | N/A |
The LUCRF Super app is highly rated by members, with a 4.7 rating on iOS and 4.5 on Android — placing it among the best-rated super fund apps in Australia.
| Service | Details |
|---|---|
| iOS App Rating | 4.7/5.0 |
| Android App Rating | 4.5/5.0 |
| Financial Advice | Via AustralianSuper |
During the Global Financial Crisis in 2008, LUCRF Super lost 12.5%, roughly in line with the industry average. The GFC remains the most severe market downturn in recent memory and tested every super fund's risk management framework.
In the COVID-19 year (FY2020), LUCRF Super returned -1.0% for FY2020, reflecting the sharp market sell-off in March 2020.
How a fund performs during market downturns can be as revealing as its long-term returns. Funds that limit losses during crashes tend to have more conservative asset allocations or better risk management, though this can sometimes come at the cost of lower returns during boom periods.
With 3.6 complaints per 10,000 members, LUCRF Super's complaint rate is around the industry average. This level is typical for a fund of its size and does not indicate any systemic service issues.
AFCA is the independent complaints body for financial services in Australia. Members can escalate complaints to AFCA if they are unable to resolve a dispute directly with their super fund. The complaints-per-10,000-members ratio is the most meaningful comparison metric as it adjusts for fund size.
See how LUCRF Super stacks up against every other fund in our database with a detailed side-by-side comparison.