Local Government Super (LGS) has rebranded as Active Super to help engage existing members and attract new members.
The fund has also announced it would reduce member administration fees and remove the switching fee, effective 1 July, 2021.
Active Super chief executive, Phil Stockwell, said: “This decision will increase our appeal to a broader range of members looking to have their superannuation invested in a responsible way, as well as delivering great returns so members can maximise their retirement outcome.
“Our ambition is to grow our membership by delivering great value to our members and this rebrand is key to that growth. We have a loyal membership base within local government and beyond, and we will continue to deliver great service for them.
“Active Super was chosen as the name as it captures our long-standing active pursuit of investments that deliver solid long-term returns for members that have a positive impact on the world, as well as our active involvement with our members and their local communities.”
As part of its broader strategy, the fund was also upgrading its website, its app, and overall engagement experience.
The administration fee cut would be on the accumulation scheme, the account-based pension plan, and retirement scheme.
Accumulation scheme members would see a fee reduction of at least 4% per annum, depending on the size of their balance. Account-based pension scheme and retirement scheme members would receive a reduction in the weekly administration fee.
“We will continue to provide investment expertise and personalised services that our members have come to know and trust. The strength of our portfolio and our continued pursuit of efficiencies has allowed us to reduce costs and pass these savings directly to our members through a reduction of the administration fees,” Stockwell said.
