LGIAsuper | Super fund review

LGIAsuper MySuper Lifecycle - Under 75
LGIAsuper MySuper Lifecycle - Under 75
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LGIAsuper's default MySuper Lifecycle option invests your super in line with your age.

LGIAsuper is a Queensland based, member-first super fund open for all Australians. It offers 13 different investment options to choose from, with low fees and strong past performance returns.

Read our review to learn more about the different investment options available, and apply online in minutes.

Product Name LGIAsuper MySuper Lifecycle - Under 75
Past 5 Year Performance 8.88%
Administration fee 0.21%
Calculated fees on $50,000 $535.00
Insurance included Death, TPD, Income Protection
Number of members 80,000

Key features

  • Low-cost, no-frills MySuper investment option available
  • Lifecycle investment options are automatically adjusted according to your age
  • Seven pre-made investment options available
  • Two ethical, socially responsible investment options available
  • Default insurance cover included

Investment options

Members can choose from the MySuper Lifecycle option or between a range of seven pre-made investment options. If you opt for the MySuper Lifecycle option, the investment experts at LGIAsuper will invest in asset classes according to your age, with a higher allocation in high-risk assets like shares while you’re young, and increasing your allocation in cash as you get older to protect your balance.

The ready-made investment options allow you to choose an investment strategy that’s in line with your appetite for risk, while the socially responsible options allow you to invest in line with your personal values. If you’d like to be a bit more hands-on with how your super is invested, you can also invest in up to five individual asset classes.

Fees

The table below shows the estimated annual admin fee, investment fee and indirect cost ratio for each MySuper Lifecycle and ready-made investment option. These fees are represented as an annual percentage of your balance*.

Investment option Admin fee (% p.a.)Investment fee (% p.a.)Indirect cost ratio (ICR) (% p.a.)
MySuper Lifecycle Under 750.210.450.41
MySuper Lifestyle 75 plus0.210.390.36
Aggressive0.210.470.36
Diversified Growth0.210.450.41
Balanced0.210.390.36
Stable0.210.300.28
Defensive0.210.230.18
Socially Responsible Balanced0.210.900.47
Socially Responsible Australian Shares0.210.430.58

*Fee figures are estimates only and correct as of September 2018. See detailed fee breakdown here.

Example fees for MySuper Lifecycle Under 75 investment option (default option)

On a super balance of $50,000 you’d have the following fees:

  • Admin fee of $105
  • Investment fee of $225
  • ICR fee of $205
  • Annual cost of $535

Insurance

Members receive the following default insurance with LGIAsuper:

  • Death and terminal illness. If you’ve got an existing medical condition you may not be eligible for this cover.
  • Total Permanent Disability (TPD). If you’ve got an existing medical condition you may not be eligible for this cover.
  • Income protection. If you’re a permanent employee you may be eligible for this cover.

You can choose to increase your level of cover for the above insurances when opening your account.

Pros and cons of LGIAsuper

Pros

  • MySuper Lifecycle option available
  • Socially responsible investment options
  • Low fees
  • Strong past performance figures

Cons

  • Queensland based with no branches in other states

How to join

If you’ve compared your options and are ready to join LGIAsuper, click on the green “Go to site” button at the top of this page. You’ll be securely redirected to the online application form, which should take less than 10 minutes to complete.

Before doing so, make sure you have the following handy:

  • Your personal details, including your name, address, date of birth and contact information
  • Your Tax File Number (you do not have to supply this, but if you don’t your fund won’t be able to accept certain types of contributions from you, and your benefit payments may be taxed at a higher rate.)
  • Details of your current superannuation fund (if you wish to rollover your balance into your new fund after you've become a member)
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