From the CEO
This Communiqué presents pertinent information regarding Australia’s changing superannuation system, a summary of legalsuper’s performance results for the financial year ended 30 June 2021 and a brief description of how we are applying the lessons learned during the peak of COVID-19 to this rapidly evolving post-pandemic period.
At the time of producing this Communiqué, debate at the highest levels of Government and business continued to occupy daily mainstream media.
However, evidence continues to show the majority of Australians – especially younger people – remain generally disengaged from their superannuation, and while such heightened media coverage may assist in addressing this situation, the reality is that continuing uncertainty about proposed reforms and debates about regulation and oversight do little to increase members’ engagement with superannuation.
Research and direct feedback from our members continue to reinforce the high value placed on the extra focus legalsuper has on providing information and resources direct to members and employers via one-on-one meetings (in person or via technology) and through a range of workplace seminars.
legalsuper is the predominant super fund specialising in the legal community, now managing more than $5 billion on behalf of more than 41,000 members. We have recently been placed in the highest award category by each of the four major rating agencies: Chant West, The Heron Partnership, SuperRatings and Rainmaker.
We have also been recently recognised in Rainmaker’s Top 20 Most ESG (Environment, Social and Governance) super funds and named a finalist in the 2021 Chant West Specialist Fund of the Year award.
In addition to providing performance results, this Communiqué profiles two ESG investment managers, Alliance Bernstein and Aikya, to which we have recently awarded mandates, explains additional member-focussed initiatives we are implementing and summarises the latest key reforms to superannuation policy and practice for 2021 following the recent Federal Budget announcement.
Investments update - July 2022
In the context of recent widely publicised financial market falls and rising economic uncertainty, legalsuper's investment returns remain strong relative to other funds.
Get ready for super changes from 1 July
There are some important changes to super that will take effect from 1 July 2022.