From next month all LCA/NZ members will be able to choose Lutheran Super as their superannuation fund, with the church-established body ‘going public’ on 1 July.
Previously a non-public offer fund only accessible to employees of the church and its agencies, Lutheran Super will remain a not-for-profit/profit-to-members fund.
Lutheran Super Chief Executive Officer Darren Royals said the move would enable the fund to grow its membership and, in doing so, benefit all members of the fund.
‘With access to a wider membership base, in particular Lutherans who are not employed directly by an LCA employer, there is the potential to provide more benefits to members and/or reduce the cost to members’, Mr Royals said.
Lutheran Super currently has more than 6300 members and manages more than $600 million in funds. It was established in November 1987 by the LCA to enable church employees to plan for their retirement and then was known as the Lutheran Church of Australia Staff Superannuation Fund. Its earliest origins can be traced back to the Church Workers Retirement Fund which started in the 1970s with fewer than 500 members. The name was changed to Lutheran Super in 2007.
Mark Wiersema, Lutheran Super’s Business Development Officer for Western Australia, South Australia, Northern Territory, Victoria, New South Wales and Tasmania, said he was optimistic about the likely growth from the shift to being a public-offer fund. ‘This will benefit existing members and provide the opportunity of others joining a fund in line with their Christian values’, Mr Wiersema said.
Mr Wiersema and Queensland Business Development Officer Katie Lightfoot will work with various LCA agencies to inform the Lutheran church community about the new status of the fund.
For more information, go to www.lutheransuper.com.au
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