Material changes include any changes that may impact on your retirement savings, including (but not limited to):
Depending on the timing of the change and our members' communication preferences, a significant event notice may be communicated through our member newsletter (SuperNews), a letter or an email.
| Notice date | Change | Impact of the change | Notice to members |
|---|---|---|---|
| 13 Sep 2016 | Proposed legislative changes to LGIAsuper's membership rules | In July 2016 the Queensland Government announced legislative changes that, once passed, will allow LGIAsuper to welcome new members outside of Queensland local government. Queensland local government employees will be offered Choice of Fund while LGIAsuper will remain the default super fund for Queensland local government. The change will not impact the fees members pay, how their super is invested or LGIAsuper's structure. |
Letter to members announcing the legislative changes You're welcome to grow with us brochure LGIAsuper's solutions brochure - Trusted advice, investment and insurance |
| 18 Dec 2015 | New name for the fund | From 8 February 2016, LGIAsuper will become Local Government Investment Australia (LGIAsuper). There will be no changes to the fund's services, members' contributions and fees, or the management of members' super investments. | Notice to members announcing the rebrand |
| 15 May 2015 | Changes to insurance arrangements | From 1 July 2015, LGIAsuper's insurance will change. Premiums will increase, a new TPD definition will apply, and changes to some of the terms and conditions will also take effect. At the same time, members of the Defined Benefits Fund (excludes former City Super Defined Benefit account members) will experience a change to the way the Minimum Requisite Benefit and Contributions plus earnings calculations will be adjusted. |
Members aged under 60 with an Accumulation account Members aged 60 and over with an Accumulation account Members with a Defined Benefit account (former City Super members) Defined Benefits Fund members without additional cover Defined Benefits Fund members with additional cover |
| 5 Mar 2015 | Withdrawal of failure of health benefit from product offering following Australian Prudential Authority (APRA) review. | From 8 January 2015 all permanently employed local government employees under age 55 can no longer claim the failure of health benefit as a lump sum payment of their super if they are permanently incapacitated through injury or illness and unable to continue working for their local government employer. | Failure of health benefit no longer available |
| 5 Nov 2013 | Launch of LGIAsuper's new default investment option, MySuper Lifecycle | Members who had never made a choice about how their money was invested or had made an investment choice to have 100% of their money in the default option had their account balance and/or future contributions transferred to the MySuper Lifecycle option (unless they opted out). | Members with no change to their investment strategy or fees Members with a change in their investment strategy or fees |
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