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 in the short and long term
Despite ongoing market volatility, our MySuper Balanced investment option where most of our members are invested, delivering a solid return of 7.92%* for the year to 30 June 2023.
This result means legalsuper’s MySuper option has delivered top quartile performance when measured over the past two years combined1 and recorded a solid return of 7.7% over the last three years, outperforming the SuperRatings2 median of 7.4% by 0.3% through an economic cycle which saw continued significant investment market volatility.
Importantly, this continues a longer-term trend of outperformance, with legalsuper’s MySuper option returns having been higher than the SuperRatings median over 3, 5, 7 and 10 years.3
*MySuper Balanced return to 30/06/2023, net of tax and all fees except the $1.30 Administration fee. Past performance is not a guide to future performance.
1Across SuperRatings’ SR50 MySuper Balanced Index.
2SuperRatings is an independent research provider for the super industry which issues a survey of the performance of ‘Balanced’ investment options based on criteria formulated by SuperRatings.
3 Figures are related to period ending 30 June 2023.
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 11 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 find out more about the investment options we offer to our members, and historical performance for the 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.
To read more about out investment structure and governance, click here.
Industrial Award
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.
Fees
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.”1
Each super fund that 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.
Look at legalsuper’s fees & costs in detail here.
[1] (The Treasury Stronger Super (2014)) https://treasury.gov.au/programs-and-initiatives-superannuation/stronger-super
Insurance
We work closely with our insurer, Zurich Australia 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 more 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).
Service options
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.
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.
Governance
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.
Annual Report
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
legalsuper is proud to be awarded SuperRatings Platinum and Gold ratings for 2023:
- Platinum Rating for Allocated Pension
- Gold rating for MySuper Balanced
- Gold rating for Employer Sponsored
- Gold rating for Personal Super
legalsuper has been awarded Rainmaker AAA Quality Rating for 2023:
- AAA Quality Rating for 2023 ‑ legalsuper
- AAA Quality Rating for 2023 ‑ Pension
legalsuper is proud to be awarded Money Magazine’s Best Member Direct Investment Choice for its broad range of investments and flexibility.
