LUCRF Super

I closed my account but still have super into it – I closed my account nearly 6 years ago after leaving my previous employer and I still get super being into the account that was meant to be closed

Useless Super fund , high fees , low returns – Great at taking a range of fees , and delivering hardly any return. Thank God they are finished. A dud super fund . Love to get you into the highest insurance possible. Very bad returns on the balanced fund. They claim to be an industry fund , but are worse than say AMP .

where is the money going???? – Topped my super up another 35k....What a mistake lost 10k already and this lot of thieves still charge you over 3k to lose your money........What.........Someone's making money somewhere......Stay away from them and when it becomes Australia Super they should sack the LUCRF staff.....

I would give them zero stars if I could – Cons: -Customer service is lousy, they never returned my calls or emails. However they send lots of unwanted spam. -No apparent capacity to direct investment portfolio. -No ability to see if investments are ethical or otherwise. -Watching my meagre investment slowly evaporate due to fees was not very enjoyable. -Unable to alter insurance scheme to… Read more

something more relevant.

Pros: -Opening a new super account with a different organisation that offers great customer service and facilitates ethical investment was highly satisfying and incredibly easy.

Early Withdrawal Forms Do Not Come – The worst,many funds stay away from these guys, They never follow thru and do not reply to emails and the wait on the phone is in excess of 1 hr every time. Terrible service full stop go elsewhere.

Absolute joke – Have been trying since April to get info about doing transition to retirement ,my 60th birthday was May 1st , its now July 9th , after many phone calls and meeting a Lucrf team member at my place employment , who was to get forms and info to me ,nothing has been done , despite their advertisement of free financial advice , they never live up to… Read more

that .I will take my complaint to the the STC or other regulators, obviously they don't won't any variation on members fund , I work for the biggest employer in Australia , so i will start my social media campaign against LURF IF your looking for a Supa fund avoid them IAN

Active Complaint – I want to post 0 Stars. Currently going through a Complaints Process because Lucrf do not want to assist me access/withdraw Super early. Laughing at me & my financial situation whilst refusing to send me relevant Forms to make ends meet. [Number Removed] [Names Removed] I'm speaking to YOU directly. You charge me admin fees while I do not have a… Read more

job, benefit or money to eat & cannot be bothered sending me Forms I need. How is that either ethical or Australian. Crooked Company, DO NOT JOIN!!!!

Great returns and excellent customer service – My parents have both been with LUCRF Super for almost 20 years. They returns they have received over the years have been great, a lot higher then what I’m getting with my super fund. I have contacted customer service multiple times on their behalves over the last few years, the last time being today and they have always been amazing. Super polite and always very informative.  Show reply

Very slow service – 1. Recently retired, not able to get pension. Relying on super to provide income. 3 requests so far to send out forms to withdraw funds & set up weekly or monthly payment. (Dont have access to printer so has to be snail mail.) - 3rd weely request & still havent recieved forms!!! 2. Disgusting quality of phone service. Very long waiting time to… Read more

speak to an operator & then very poor quality phone lines (like listening to someone underwater through a tunnel).

If the same next time, will be changing super funds as it appears a few other users are doing.

Lift your game LUCRF or be willing to accept customer exodus.

Old methods of withdrawals – I have been with LUCRF for about 18 years or so and now that I am a self funded retiree and have access to my funds I find it a laborious task to withdraw funds. My wife is with Care Super and can have funds transferred to her bank account online using her iPhone and it takes 3 working days. Whereas I have to print out forms and fill out a lot of… Read more

details and then get a photo of my licence, then go to a Post Office and post it to LUCRF and after it arrives there wait another up to 10 working days to have it transferred into my bank. I can understand security but it’s being transferred into my bank account so what’s the problem? Grrr

Absolutely NO Communication – I applied for the $10k hardship payment from my Super received an email from ATO confirming they had agreed for early release from LUCRF And allow 5 days! that was almost 2 weeks ago! I called LUCRF Listened to there message if you have received confirmation from ATO then nothing needs to be done or no need to wait on the line, I waited for a… Read more

response now they require Driver Licence as ID And another 5 days! Apparently I received an email last week, well if I did it wouldn’t take another week for me to respond! What a Crock of crap Once these leaches have your $ they don’t wanna release it! Disgusting the way they treat people in this current climate!

Market crashed & got locked out of my account – I’ve been with LUCRF for 16 years. For most of it I have been relatively satisfied. But, when the stock market started taking a hit due to the Covid-19 pandemic I lost $25k in 2 weeks. Coincidentally at the same time I started having trouble logging into my account. I’m now totally locked out. I’ve tried calling, email & Facebook messenger but… Read more

have received no help. Every time I call there’s an automated message saying it’s a 2-3hr wait. Emails have not been responded to. I got asked for my best contact details on messenger & have not received anything since. In my opinion they’re trying to prevent me changing my investment options to keep a hold on my money. I’ve just joined another fund & am now waiting for the rollover to take place.

terrible – Was up $18.000 from last financial year & within 2.5 months have lost $17.000 . seems to happen a lot returns looking good then it gets close to financial year & then you see a big loss in $$$' going to look else where for super.

Not trustworthy! – if your family does the claim for death benefit days after the person has passed they wont payout on it.. Be aware they did this to my family! if they can find a loop whole they will.

Absolutely Awful – I have been with LUCRF for 7 years. Recently my wife has had cervical cancer which resulted in us having to shut down out business'. By some miracle we are now expecting another child and having no employment we reached out to withdraw under financial hardship to cover pressing bills and medical expenses. Their communication is terrible. It took a… Read more

ridiculous time to process. We had to chase them up to find out what was going on multiple times, it sounded like they barely looked at it and every time they asked for more information (after WE chased them up). We have given more than enough evidence and they refuse to help us. Now with our energy being threatened to be cut off, ultrasounds we cannot afford and general living expenses to help out in such a difficult time we have had to open a new super and are about to transfer and get away from this money grabbing fund. Hopefully we can get to someone who can process our claim quick enough to keep our electricity connected and get our baby the scans she needs. We have heard HESTA is fantastic at helping their customers so we will be going there! DO NOT JOIN LUCRF. Terrible customer service and will dig their claws into YOUR money.

Terrible – Account keeps losing money hand over fist. The recent changes don’t seem to benefit me at all, they could not have been made in anyone’s best interests. Any ideas of a good performing fund?

No customer service – Lucrf have pathetic customer service standards. They don't return phone calls, and have responded to emails and online messages. I'm now looking to go to another super fund who treat members with more respect. December 15th 2019 Update: Leaving lucrf Im leaving becausr the level of customer service is pathetic. In fact, im still waiting a… Read more

response from lucrf regarding an.issue back on August. Had to go to AFCA and still not heard anything. Lucrf needs to seriously look at the way they are handling customers- just remember, it's customers that are keeping lucrf active.

Poor performance and customer service – Luckily I'm not relying on super for retirement. Tried to call lucrf 5 times before EOFY to make changes but no answer.. Australian super is a much better fund , excellent customer service and at least 3% better returns..

'Moderate'? changes about to happen to my Death Cover – I've been with LUCRF for over 15 years and have just received a letter advising me of the 'Moderate' changes about to happen to my Death Cover. The 'Moderate' changes are - my Cover is about to go up over $6 per week. Not so horrible you say? Well the kicker is that my Total Cover is going to go down from almost $500,000 to only just over $200,000. Not happy Jan!

Not the best – Being self employed over the last many years I have built up more than enough capital up outside of super to look after me and my own well into my senior years. (Although there must be many with super accounts, lost perhaps or otherwise, carrying small balances) Just as well for me as the balance of my super account with lucrf has remained the… Read more

same at around $800 for the last 21 years. Each year i get credited with about $80 in revenue which is swifty debited by a similar amount per fees. Hmmm. Doing the sums that’s not much return for me over 2 decades...unmoved at just over $800..... with about $2000 over those same years for lucrf.

No doubt this fee structure and practice is prevalent across the industry so it’s not too fair to point the bone solely at lucrf in this instance. Perhaps under a certain balance there should be reduced fees or total fees should never be more than a certain percentage of income credited with no “minimal fees” allowed. Interesting to see if it’ll be addressed under the Hayne Royal Commission.

Excellent – Meeting with Arpita Bhatt We have been with LUCRF for 10 years. Due to recent changes in our situation we had a need to speak to a financial adviser. In our dealings with Arpita we have found her to be friendly, efficient, patient and extremely helpful. She has not rushed us, but taken the time to explain our options. We feel she has nothing but… Read more

our best interests at heart and we feel very comfortable in our discussions with her. She is a credit to the organisation.

The best of a bad lot – So I was a member of this superannuation scheme for about 15 years. Some years the returns on the investments were quite superior to all other funds but this superannuation scheme, labor union cooperative retirement fund, Is just a retirement job for burned-out union officials Some of these jokers who wouldn't be sober for much of the day are… Read more

earning in excess of $200,000 a year.

And by the way nearly all the senior positions at the superannuation fund held by ex-union officials who wouldn't know a profit and loss ledger from a fish wrapper

don't trust these superannuation schemes for your retirement, go buy your own share portfolio and negatively geared it,or a property portfolio and negatively gear it for the long-term

That's what the officials and operators of these super schemes do for themselves

We Australians are badly served by these grubs, as the superannuation scheme was handed over to private enterprise by a labour government back in the 1980s

so what you think will happen, the labour hostile elitists, will not be happy until the working class are in perpetual debt and despair

if the working class are in debt and despair the hostile elitists think that they will have us in the bag.

We keep voting for our own destruction

Would not recommend – My employer signed me up for LUCRF as it was their default fund. As I am only 18 and don't always work enough each month to earn super, my employer doesn't regularly make payments into my account. The insurance was automatically turned on when the account was opened and when I noticed I asked them to turn it off and they said since I had called… Read more

within 30 days of the account being opened that the insurance could be cancelled without charge. But I was still charged the insurance and with their monthly and quarterly fees, my account balance was drained to zero within 3 months.

In safe hands – I have been with LUCRF for many years and happy in my choice to stay with this fund. Raj Singh has been there to answer any questions and give advice, which has made feel well looked after . I don't feel the need to change my fund and happy to stay with LUCRF . thanks Raj

Great Super Fund – I've been with LUCRF Super for a few years now. I'm very happy with the service, good performance, and lots of investment options ( 10 in total ) to choose from. Fees are very reasonable too. The staff are very professional, knowledgeable, and friendly. I would rate them 5 stars out of 5. Can highly recommend them.

Retirement made easy – I got answers to all my questions re organising finances for retirement. The advice I received will enable me to maintain my lifestyle in retirement.I couldn’t be more satisfied.

Great customer service - knowledgeable staff – When speaking with LUCRF Super their staff have always been friendly and knowledgeable. You speak to a real person, locally here in Australia, not a machine. They sorted out the administration of my paperwork quickly. Their investment performance has been good too.

Poor customer service – Customer service is unhelpful, vexing & patronising Difficult to deal with especially when trying to change funds &/or remove auto insurance sign ups. Fund is generic with minimal investment options.

Keeping you informed ! – I have been with LUCRF for over 5 years and they have consistently performed over and above my other existing account with Australian Super. Their Website is informative , and Contact over the phone showed me impressive Customer service.