Intrust Super will cut premiums for its life and total and permanent disability covers by 7% from January 1, with the rates locked in for three years.

CEO Brendan O’Farrell told insuranceNEWS.com.au the changes apply to policies offered within the fund’s CoreSuper MySuper, Executive Super and Select Super products.

A non-smoking, female client with $1 million coverage through Executive Super or Select Super will save $60 a year.

“There have been no changes to the scope of the cover as a result of the premium change,” Mr O’Farrell said.

Intrust Super cut premiums for its group life income protection policy PayGuard this month.

The fund has more than 124,000 members, catering to employees in hospitality, clubs, tourism and retail.