Australia and the world currently face a level of uncertainty and challenge which has not been experienced for decades. There is significant financial uncertainty, insecurity of employment, interest rate rises, increased cost of living and global conflict – all of which follow almost three years of the Covid-19 pandemic.
At a time of such multi-faceted personal and financial challenges, it can become even more difficult to maintain a focus on saving for the life you envisage for yourself and your family in retirement.
Fortunately, legalsuper has responded to these global and local financial challenges extremely well on behalf of its members and has plans and active strategies in place to continue delivering the best results possible.
legalsuper performance stands up
Despite recent and current challenges, legalsuper has continued to deliver strong returns for members for the year ended 30 June 2022, with our MySuper balanced option ranked as the fifth highest performer according to independent ratings agency SuperRatings.
This continues our ongoing record of delivering strong returns. Over the 10 years to 30 June 2022, our MySuper balanced returns exceeded the SuperRatings median by 0.4 per cent. This represents a decade of strong results, which help members save for retirement.
How we do it
A key driver of legalsuper’s sustained outperformance is our continued commitment to active investment management.
As a boutique fund, we are more agile than larger, more cumbersome funds and can more quickly make informed, innovative and timely investment decisions; avoid overvalued and exposed areas of the market; and seek out new institutional-quality investment opportunities in areas such as digital infrastructure and healthcare property.
While diseconomies of scale often plague larger organisations, leading to reduced quality of service across a broad customer base, legalsuper’s personalised service, organisational culture, operational agility and singular focus on Australia’s legal community all combine to give us a strategic, competitive advantage over larger funds.
Take control of your super
While legalsuper performs well on behalf of its members, even better results can be achieved when members are actively involved in the stewardship of their own accounts.
More and more, members can have a greater say in how and where their contributions are invested and the degree of risk they feel comfortable with. In fact, legalsuper offers members 12 investment options, plus a Direct Investment option. You can read more about these options on our website at https://www.legalsuper.com.au/investments/investment-options/super-investment-options
Regarding investment options, it is worth remembering that many people are often more comfortable with higher degrees of risk (with possibly higher returns) earlier in life, after which, as they approach retirement or semi-retirement, they switch to a more conservative approach. This is another example of the benefit of being actively involved in the management of your super account. Everyone’s situation is unique so this, so this is a personal choice.
Working on – and in – the business
As well as our ongoing focus on maximising investment returns for members, legalsuper continues to work ‘on the business’ of improving our overall service and support delivery to members.
As part of this, earlier this year we launched the new legalsuper online MemberAccess portal, where members can access their account details and make updates to their account all in a highly secure location that enables ease of navigation. If you have not yet used the new online MemberAccess portal, I encourage you to do so.
We have also recently completed a review of our insurance offerings to members and are in the process of implementing these changes, which we expect to communicate to members in early 2023. Insurance via your super fund is an incredibly important part of safeguarding your financial and personal future.
We are here to help
During these uncertain and particularly challenging times, legalsuper is here to help. If you would like to meet with us to discuss any aspect of your super – whether it be in relation to contributions, your investment options, insurance and fees or consolidating multiple super accounts into one account – our team is available for 1-to-1 consultations, offering tailored information and support. Book an appointment today: https://www.legalsuper.com.au/bookmeeting
Legal Super Pty Ltd ABN 37 004 455 789 is the Trustee of legalsuper ABN 60 346 078 879 and holds Australian Financial Services Licence No. 246315 under the Corporations Act 2001. The information contained in this document is of a general nature only and does not take into account your objectives, financial situation or needs. You should therefore consider the appropriateness of the information and obtain and read the relevant legalsuper Product Disclosure Statement (PDS) and Target Market Determination (TMD) (available at legalsuper.com.au or by calling 1800 060 312) before making any decision in relation to legalsuper. Past performance is not a guide to future performance.