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 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 chas...
No frills but excellent super fund
Disappointed to read some of the recent reviews. I have nothing but complimentary comments. Their fees are very fair and their returns are industry acceptable depending on YOUR choice of asset class, which is wide ranging. In a recent world wide super scam in which LUCRF were targeted, among many funds, LUCRF protected and stopped a fraudulent withdrawal attempt on my super due to their security. Thank you LUCRF.
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 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 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 ov...er 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.
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 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 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...
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 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.
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.
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.
Questions & Answers
How to see my Super Account balance?
My Account Numbers is : 229504
Angus L.LUCRF Super
Hi The Phan, Thanks for reaching out! I would encourage you to delete this question only because it shares your private information! If you'd like to see your super balance you can do a couple of things;
1. Download our LUCRF Super app you can check your balance here.
2. Create an account through our member portal on the website https://portal.lucrf.com.au/portalclient/public.aspx?Member=SM
3. Email email@example.com or call us on 1300 130 780 and our contact centre can let you know.
Your property portfolio is currently giving a fantastic return.
What is the fund made up of?
Are there any restrictions by putting it into property? Can you still change portfolios as you can other portfolios ie balanced, High risk etc?
Angus L.LUCRF Super
Hi Sambo. Thanks for reaching out and asking about this option. It invests entirely in Australian listed property. You can find out more about this option, including other investments, in our handy investments guide: https://lucrf.com.au/sites/lucrf.com.au/files/publications/1518/investments-guide_1.pdf. If you’d like to chat more, please don’t hesitate to contact us on 1300 130 780 or email firstname.lastname@example.org. Cheers, Angus (LUCRF Super)
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