Welcome to AustralianSuper

You’ll soon be a member

On 2 June 2022, your LUCRF Pension account will close and on 3 June 2022 you’ll have a new account based pension with AustralianSuper. Your account will automatically transfer from LUCRF Super to AustralianSuper, so there’s nothing you need to do while the transfer takes place.

For detailed information about the transfer to AustralianSuper, changes to your income payments, investment option(s) and your binding death nominations, please see the Transfer guide for pension account members.

Important dates

^‡ You'll be able to view your LUCRF Super exit statement and annual statements for the past three years in your new AustralianSuper account.

Limited activity period

While we prepare for the transfer, you’ll be able to make final changes or requests to your LUCRF Super or Pension account. However, certain activities will become limited from 6pm on 20 May for TTR/Pension accounts and 6pm on 27 May for Super accounts.

From 6 June 2022, you'll have access to some activities within your new AustralianSuper account (only by calling AustralianSuper), and on 13 June 2022 your new account will be active.

To make it easier to know what activities you can do, the final date to request/make changes and how, please see the Limited activity period section of the Transfer guide.

Investing for members like no other fund can

As Australia’s largest super fund, our size and scale mean you’ll have access to world-class investment options. Whether you’re starting your career or nearing retirement, the choice is always yours depending on the kind of investor you are.

On 3 June 2022, we’ll automatically transfer you to an AustralianSuper investment option(s) based on your current LUCRF Super investment option(s), so you don’t need to do anything. To see how your investment option(s) will be transferred from LUCRF Super to AustralianSuper, please see the How your super is invested section of the Transfer guide.

Your insurance cover

On 3 June 2022, if you’re eligible and had insurance cover with LUCRF Super you’ll be provided with a similar level of cover through AustralianSuper, however the insurance design, costs and terms and conditions will change.

AustralianSuper does not offer insurance cover under any pension products. Any insurance cover you held under a LUCRF Super pension account at 2 June 2022 will not continue.

Types of cover AustralianSuper provides

• Death - can provide a lump sum to your beneficiaries if you die.
• Total & Permanent Disablement (TPD) - can provide a lump sum payment if you become totally and permanently disabled and can no longer work.
• Income Protection - can provide monthly payments to help you get by if you become ill or injured (at work or outside of work) and can’t work temporarily.

If you have Death or TPD cover you’re also covered for terminal illness. A terminal illness payment can help ease some of the financial stress if you’re suffering from a terminal medical condition.

What’s basic cover?

AustralianSuper automatically provides most members in AustralianSuper Plan with basic (default) Death, TPD and Income Protection cover with their super account. Basic cover is age-based and designed to provide a minimum amount of cover for changing needs as you get older.

Your cooling-off period

On 3 June 2022, if you automatically receive cover you’ll have a cooling off period to cancel or reduce your cover within 60 days of the date on your Welcome letter. If you choose to cancel or reduce your cover within this 60 day period, the cancellation or reduction will take effect from the date the cover started at AustralianSuper.

If you do cancel your cover:

• you or your beneficiaries won’t be able to make an insurance claim if something happens from the effective date of the cancellation; and
• you might not be able to get cover later. You’ll need to reapply and provide detailed health information for the insurer to consider.

To cancel or change call us on 1300 300 273 or complete either the Cancel your insurance or Change your insurance form.

For detailed information about the cover you may be provided with, cover designs and how to change/reduce or cancel your cover please see the Your insurance cover section of the Transfer guide.

Third-party authorities and power of attorneys

If you have a Third-Party Authority and/or Power of Attorney on your LUCRF Super account, these will not transfer over to AustralianSuper. You’ll need to send these to AustralianSuper after the transfer date before they can apply to your AustralianSuper account.