How we compare
Learn about our origins, values, how we compare to our peers and contribute to the legal community. As a profit for members fund, we act in the best interests of our members and employers.
The fund for Australia's legal community
legalsuper’s origins are in the legal community itself. The current day legalsuper fund was formed by the joining of the super funds established by the Law Societies of Victoria and NSW. Today, our members come from every facet of the law and we remain dedicated to the community we were founded by. As a profit for members fund you can be confident that we act in your best interests and, like you, we are driven by our commitment to accuracy, accountability and quality, to meet and exceed the high expectations of our community.
Strong performance over the short and long term
legalsuper’s default investment option for Employer-sponsored members is MySuper balanced; this is where members will be invested if they don't make an investment choice. The below chart shows how our MySuper balanced option compares with the industry median.
These returns are net of investment fees and tax, gross of administration fees.
Past performance is not a reliable indicator of future performance and should not be the sole factor considered when selecting a fund. As at 30 June 2019, most members were invested in the MySuper balanced investment option which has been available since 1 July 2013. Prior to 1 July 2013, it was known as the Growth option.
The industry median is as advised by SuperRatings. SuperRatings is an independent research provider for the superannuation industry. Its research helps super funds monitor and improve their performance and benchmark themselves against their peers
Other investment options
legalsuper also offers a range of investment options that cater for different member needs. Flexibility combined with strong returns enables our members to maximise their superannuation to better suit their personal circumstances.
We offer 13 investment options, including a socially responsible investment option and an SMSF alternative - the Direct Investment option - which allows members to invest directly in a selection of shares, Exchange Traded Funds (ETFs), Listed Investment Companies (LICs) and term deposits.
To read more about the investment options we offer to our members, and historical performance for all investment options click here.
legalsuper’s investment process draws upon super expert investment advice and expertise, the selection of which is subject to extensive due diligence. The Board formulates legalsuper’s investment strategy and overall investment policy, assisted by its Investment Committee, which is advised by both legalsuper’s asset consultant Willis Towers Watson and other advisers.
To read more about out investment structure and governance, click here
The Legal Services Award as set out by the Fair work ombudsman lists legalsuper as a super fund to which an employee working under the award can be paid. For more information, visit the Fair Work ombudsman.
Comparing fees for super funds can be difficult, as not all super funds and investment options are alike. One way to compare is using the MySuper product dashboard for each super fund. The Treasury describes MySuper as “a simple, low cost default superannuation product” which is designed to “improve the simplicity, transparency and comparability of default superannuation products.”
Each super fund which has a default MySuper option, has a product dashboard declaring how much a member of the product would pay in fees if they had a balance of $50,000. Use our MySuper dashboard to compare legalsuper’s MySuper product & associated fees to other MySuper products.
 (The Treasury Stronger Super (2014)) https://treasury.gov.au/programs-and-initiatives-superannuation/stronger-super
We work closely with our insurer, OnePath Life Limited, to offer low cost and good cover on Death, Terminal Illness, Total & Permanent Disability (TPD) and Salary Continuance insurance. Our insurance is tailored to suit the needs of those within the legal community. In 2019, Money Magazine named legalsuper a ‘Gold Winner’ for Best-Value Insurance In Super. Read the details on our insurance here.
Some insurance Features:
- New eligible members can take up a special offer for increased Death & TPD or Salary Continuance cover, without having to go through medical underwriting (screening questions apply).
- When eligible members go through particular life events, such as marriage, having a child, or buying a house, they can apply for additional insurance without having to go through medical underwriting (screening questions apply).
- Customer Service Centre – Assistance, everyday. Our legalsuper Customer Service Centre is based in Melbourne, available 8am-8pm AEST Mon – Fri. Our team offer support from our Over the phone, via email, or via Live chat.
- Client Service Managers – In-person support with a legalsuper expert Our team on Client Service Managers are Australia wide, and all employers have access to their expertise. They offer in-person support and can visit your workplace to help you get set up and streamlined, they also offer educational seminars tailored to your business needs.
Meet the team.
- Digital solutions & Self-service online For quick, easy admin we offer EmployerAccess, so you can manage your account and super obligations online.
- Free clearing house You can pay all your employees, no matter which super funds they are with, with one payment. Simplified, fast, free and ATO compliant.
As an industry super fund, all profits are returned to members. We do not pay commissions to advisers, shareholders or agents. We exist purely for the interests of our members and we welcome every opportunity to demonstrate our accountability to them. The Board of legalsuper includes respected members of the legal community and is responsible for the overall strategic direction of the fund. A rigorous governance structure and set of processes ensures we maintain thoroughness and accuracy. We operate with full transparency and are committed to maintaining the quality of our offering.
Read our current and historical annual reports.
Giving back to the community we were founded by
Our commitment to the legal community runs deeper than wealth management. We’re a super fund first, but also a partner through your career and into retirement. We have a long and proud history alongside Australia’s law institutions, giving back to our industry and helping those within it. legalsuper works with every law society and institute across Australia. We share the passion and ambition our members feel. We sponsor training and initiatives that promote professional development and are passionate about investing in the future success of our industry.
Awards & recognition
- Money Magazine
2019 Gold Winner – Best-Value Insurance In Super
- SuperRatings Platinum Rating 2018
SuperRatings is an independent research provider for the superannuation industry, which benchmarks super funds to enable easier comparison.
SuperRatings ranks legalsuper as a platinum fund, a platinum rating is described as follows:
“A best value for money superannuation fund that is well balanced across all key assessment criteria – investments, fees and charges, insurance, member servicing and administration in a robust, secure and proven governance risk framework. These funds provide features that should assist most individuals meet their retirement goals”