Features

Investment choice

Member Investment Choice - you're in control !

One of the advantages of being a member of LESF, is that you can control how your funds are invested. LESF offers 3 investment options from which you can choose your investment strategy that best suits you. These are :

  • Equities Investment Option
  • Balanced Investment Option (From 1 September 2004, the Composite option has been renamed ‘Balanced’)
  • Cash Investment Option (From 1 September 2004, the Income option has been renamed ‘Cash’)

You can place your money in one option, or spread it across 2 or all 3 of the investment options. Upon joining the fund, you can choose any of or a combination of these options. Where you do not elect an option, your money will be placed in the default option, being the Balanced Option. There is often a relationship between risk and return, so as your circumstances change, you may wish to change the mix of your investments. LESF allows members to switch between investment options as often as you like. The first switch each year is free with each switch made thereafter in the year attracting a fee of $25.

For more information on investment choice or to make a choice please refer to the LESF Product Disclosure Statement and Member Investment Choice Brochure, or contact LESF on Freecall 1800 359 686. You can now print an LESF Member Investment Choice Form on line Click here to go to the Publications page for the Member Investment Choice Form

Insurance

LESF Insurance Cover – New Cover with effect from 1st February 2009.

Death and Total and Permanent Disablement (TPD) cover is available to all employees of a participating employer of LESF who are employed to work on full-time, part-time, or casual basis.

4 Units of Death and TPD cover is provided to eligible members upon first joining the Fund (Opt down available). The price of each unit of cover is $1.00 per unit per week (4 units of automatic cover = $4.00 per week).
DEATH AND TPD INSURANCE SCALES AND PREMIUMS EFFECTIVE 1 Februrary 2009
Age Next Birthday
Benefit Scale x 1 unit
$1.00 per unit
Benefit Scale x 2 Units
$2.00 per unit
Default Cover 4 units

15 to 32
$102,000
$204,000
$408,000
33
$98,000
$196,000
$392,000
34
$95,000
$190,000
$380,000
35
$93,000
$186,000
$372,000
36
$90,500
$181,000
$362,000
37
$88,000
$176,000
$352,000
38
$85,500
$171,000
$342,000
39
$83,500
$167,000
$334,000
40
$78,000
$156,000
$312,000
41
$73,000
$146,000
$292,000
42
$71,000
$142,000
$284,000
43
$68,500
$137,000
$274,000
44
$63,500
$127,000
$254,000
45
$61,500
$123,000
$246,000
46
$58,500
$117,000
$234,000
47
$55,000
$110,000
$220,000
48
$51,000
$102,000
$204,000
49
$47,000
$94,000
$188,000
50
$44,000
$88,000
$176,000
51
$40,750
$81,500
$163,000
52
$38,250
$76,500
$153,000
53
$35,000
$70,000
$140,000
54
$32,250
$64,500
$129,000
55
$29,000
$58,000
$116,000
56
$26,250
$52,500
$105,000
57
$24,000
$48,000
$96,000
58
$21,500
$43,000
$86,000
59
$19,000
$38,000
$76,000
60
$16,750
$33,500
$67,000
61
$14,000
$28,000
$56,000
62
$11,500
$23,000
$46,000
63
$8,500
$17,000
$54,000
64
$5,750
$11,500
$23,000
65 to 70
$3,000
$6,000
$12,000

Maximum number of units you can apply for is 50 units Death and 30 units TPD ( limited to $5,000,000.00 Death Cover and $3,000,000.00 TPD Cover).

Income Protection Cover (Opt Out Available)

Any member who is eligible to join LESF will automatically receive 35 units of Income Protection cover upon first joining the Fund. Additional cover is subject to underwriting and acceptance.

Additional cover will commence on the date you receive notification of acceptance from LESF. Members will also be able to vary the type and level of cover necessary to suit their specific needs.

For those members who currently have Income Protection Cover please be advised that the premium rates have decreased. Please refer to the below tables for new rates and example of how to calculate your benefit. Income Protection cover is provided in multiples of 5 units, with a minimum of 20 units of cover.

Your current monthly premium from the 1st February 2009 will be as per the following scales:
COMMINSURE INCOME PROTECTION PREMIUM RATES FOR LESF Voluntary Income Protection rates Annual Premium Rates per $100 of Monthly Benefit (including Stamp Duty).
Waiting Period:
30 Days
30 Days
Payment Period:
2 Years
2 Years
Age Next Birthday
Male
Female
15
$2.54
$2.85
16
$2.54
$2.85
17
$2.57
$2.90
18
$2.60
$2.96
19
$2.64
$3.05
20
$2.67
$3.11
21
$2.71
$3.20
22
$2.75
$3.31
23
$2.78
$3.42
24
$2.79
$3.52
25
$2.81
$3.57
26
$2.75
$3.61
27
$2.70
$3.63
28
$2.66
$3.65
29
$2.66
$3.69
30
$2.70
$3.82
31
$2.75
$3.98
32
$2.85
$4.16
33
$2.96
$4.36
34
$3.07
$4.59
35
$3.21
$4.83
36
$3.37
$5.09
37
$3.56
$5.39
38
$3.76
$5.71
39
$3.98
$6.05
40
$4.22
$6.41
41
$4.47
$6.78
42
$4.74
$7.17
43
$5.03
$7.55
44
$5.33
$7.93
45
$5.65
$8.34
46
$6.01
$8.81
47
$6.45
$9.34
48
$6.95
$9.91
49
$7.47
$10.54
50
$8.06
$11.22
51
$8.73
$11.94
52
$9.48
$12.74
53
$10.28
$13.58
54
$11.17
$14.48
55
$12.11
$15.45
56
$13.13
$16.46
57
$14.22
$17.56
58
$15.48
$18.71
59
$16.92
$19.96
60
$18.54
$21.31
61
$20.33
$22.81
62
$22.27
$24.52
63
$20.02
$22.06
64
$16.68
$18.41
65
$10.05
$11.10
If premiums are paid monthly, the monthly premium is calculated by dividing the annual premium by 12.

For more information on the Insurance cover or to increase your existing cover, contact LESF.
Download the 2009
Annual Report here
LESF is administered by Australian Administration Services (AAS). AAS is an authorised representative of Pacific Custodians Pty Limited, which holds AFSL number 295142. AAS is authorised to give general financial advice on superannuation products.