The Legal Industry Superannuation Scheme (LISS) was established by the Law Institute of Victoria (LIV) in March 1989 to provide a superannuation fund for the Victorian legal profession. The LIV also operated a superannuation fund for its employees known as the Law Institute of Victoria Staff Superannuation Plan.
Another fund was operated for Victorian self-employed legal practitioners, known as the Victorian Solicitors Superannuation Fund. In the early 2000s it was decided to consolidate these three funds into LISS.
Around the same time, Herbert Geer Rundle decided to merge their corporate superannuation fund into LISS. LISS’s sister fund in New South Wales, known as the Law Industry Superannuation Trust (LIST) had been established by the Law Society of New South Wales (LSNSW) in early 1989. In the early 2000s, LISS and LIST commenced discussions for a possible merger. On 28 February 2005, LISS and LIST merged and the merged entity was named legalsuper. The LIV and LSNSW became joint shareholders in the trustee of legalsuper, Legal Super Pty Ltd.
In 2007 the Barristers Superannuation Fund established for New South Wales’ Barristers merged into legalsuper.
In 2009, two further funds merged into legalsuper – the Blake Dawson Partners Superannuation Fund and the Victorian Barristers Superannuation Fund.