Lost $370 in 9 days since roll over
Lost $370 in 9 days since roll over. Changing super funds as I don't want to gamble with my future. Really disappointed in myself that I didn't read up about the fund in more detail and what it does with your money.
ABYSMAL returns ... losing money fast!
I was with OnePath for over 10 years. From the beginning, I started with over $17,000. Now that they have transferred me into Smart Choice, I have little more than $7000! I tried to roll it over into my Super SA fund before I lost any more money, but was unable to do so because OnePath had my birthdate recorded incorrectly. I spent literally DAYS (not HOURS!) on the phone with their call centre ... which is in MALAYSIA!!!!! trying to get the problem fixed so that I could get out. I was instructed to send them a certified copy of my driver's license to prove my date of birth. I did so, via Registered mail, requiring a signature upon receipt of delivery. They told it would take up to a MONTH for them to amend the date. WHY SO LONG?? Probably because they get more interest out of MY money in that month!!!! I called them back a month later and was told they had not received the letter!!! More interest for them!!!! So somewhere out there, there is a certified copy of my driver's license!!!!! At this point, I gave up trying because I was caring for a terminally ill family member and could not deal with any more distress. A year later, I attempted to roll it over again, once I discovered the fund was now with One Choice .. which enabled me to go INTO a branch this time and present my driver's license to correct my birthdate. I did so, was told that it would take between 5 to 10 business days!!!! Ugh! TWO weeks later I called them to find out if it had been done ... IT HADN'T!!!! I rang the ANZ and was told that there was no record of me even going INTO a branch!!!! I went in again and spoke to the MANAGER to lodge a formal complaint. She looked on the system, saw my birthday was still incorrect, went into the office of the woman who had NOT done it in the first place, came back, logged back on again, and There you have it! DONE!!!!! ... and not a minute shorter than FOURTEEN BLOODY MONTHS!!!!!! I will NEVER have anything more to do with the ANZ again!!! APPALLING!!!!! .. and to everyone else who have ANY sort of dealings with the ANZ ... GET OUT!!!
ring the ombudsman NOW
contact the financial services ombudsman !!! this is the appropriate thing to do in these circumstances. they will tell you what to do
Lost $1000 in 3 months
I had 41800 with ANZsuper 3 months ago and now its down to 40800- lost $1000 in 3 months and the answer i got was the stock/share in volatile. Giving them til xmas to pick otherwise moving to another provider. No good enough ANZ.
Lost my Super, refuse to contact me.
Last October I rolled over some of my old Super accounts to ANZ.
One old Super account went across – all good.
One of my main Aus Super accounts didn't and it appeared it was still active according to the internet account. Since this was performing I let it be and put it down to ANZ stuffing up.
My last Aus Super statement never arrived, so I checked my ANZ account, no Super in there either.
Short story: ANZ put my Super into the wrong account and after 2 months since I raised the flag, have failed to fix the issue even after saying it would be fixed in 10 days.
A month ago I was called by a representative from their Super department and I kid you not she mistook me for the person the account was paid into and asked me to authorise a return double payment out of an account. She gave me details of funds in this other account among other things and was getting really narky when I said I am not authorising anything as I have no idea what you are talking about.
Once I clued in to what she was going on about I requested she get someone higher up to call me back – this never happened.
The next day I called them back and they outright lied to my face saying the problem was almost fixed. After detailing the other call I could tell the op on the end of the phone call was getting very uncomfortable, yes I had access to another persons account, yes I know exactly what happened and yes, you guys just told a whole heap of porkies.
I requested a formal complaint, maybe that might shed some light though still no contact from the ANZ - No response to that either.
The issue appears to be the same as the ANZ Onepass breach but this happened a lot later than that issue and after 2 months they have failed to do anything about it. All calls have also been recorded so their lies are about to be released on youtube unless someone does in fact get back to me.
Over to you ANZ.
Perhaps the worst super choice in Australia??
I received a statement today from ANZ super to discover that I had given them my hard earned money for a total return of, wait for it...... 0.6% - yes that is correct, 0.6% for a full 12 months! When I ring to query the poor performance, I am told it was my fault for selecting the plan. When I explained I had never spoken to a consultant in 10 years, I was told "we are not financial advisers". So it begs asking, what are ANZ doing in the superannuation business? We give our money to a business that basically abdicates itself of all responsibility, but happy to take the money............ My account will be closed and moved elsewhere forthwith.
Lack of humanity and service
My 33-year-old daughter who lived with me died unexpectedly last week with no apparent cause. She had three superannuation accounts - AMP, Mercer and ANZ. The first two were sympathetic, prompt and very helpful. It took minutes in both cases to get the paperwork underway. With ANZ...three attempts to get information on the paperwork...the last attempt taking more than an hour on the phone. I demanded to talk the the customer service manager because the customer service officer was so ill-informed and hopelessly out of his depth. The manager tried to hide behind 'rules' but as I pointed out AMP and Mercer have the same rules - the explanation was pathetic and insulting. Lastly...ANZ really truly needs to get the letter sent out to dependents reviewed. Basically "Our condolences. Here is what we require of you." So what is wrong with the following? "We're sorry to hear about your loss. Please be assured we are here to help with any questions you may have. When you feel ready there are a few forms for you to fill in so we can get processes under way." It says the same thing but is so much more human. One star only because a rating is required. Be warned and consider what your relatives may have to face.
Pathetic customer service. Waited for 1.5 hours to be connected and then still unsatisfied with response. I am moving my account.
Super rip off
After making a bad decision to leave my old super I joined ANZ Smart Choice and promptly lost $1600 in 5 days! I am now back with my old super and couldn't be happier as I have had growth already . Apart from a loss in such a short time the service and advice was amateurish and left me thinking they don't know what they are doing! Say no to this super fund! See my ANZ bank review for full story.
it is terrible
I joined ANZ in 2014 and it had minus interest in 2014 and 2015. I booked an appointment with their advisor as a free session consulting. When i went there to see the advisor he had left the branch without letting me know and cancelling the appointment. The second time he just asked me some questions and when i asked him to explain about them he said you have to pay $1700 and then i will explain details.
It was really disappointing and i changed my super.
Worse experience ever
I chose ANZ for convince well that was a mistake. It might have been convient but did not perform and when I asked about changing my investments got told I needed to pay between one and two thousand to talk to their financial advisors I do not need someone to tell me that a fund that had a minus interest rate could give me advise. So I bailed out and went to another fund which at least is showing signs of growing not decreasing like ANZ
I joined ANZ smart choice super about two years ago. When I joined I explained that I was self-employed and all my contributions would be member voluntary. I was paying into the fund on a weekly basis for eighteen months in which time each and every contribution was credited as Superannuation Guarantee and not member voluntary as it should be. During this time I have repeatedly called and emailed them to change it but no luck. Keep getting told that I need to get a statutory declaration for each and every contribution separately listed. Emailed them a few weeks ago about the same issue, today I received an email that said I had to do the statutory declaration thing and also today received a letter regarding the same contributions saying I just had to put a cross in the relevant box and it is all sorted. Why has such simple matter as getting what type of contribution it is that I am making become such a difficult task for them to sort out? Stopped making any contributions six months ago, just so over it.
Terrible service - slow to NO responses - astoundingly high fees
I'm OUT !. Paying almost $7k a year in Death and Income Insurance and poor fund performance - why would anyone stay ?
When I call my primary fund (RUSSELL)...they are all over me with options, suggestions, improvements - all positive.
Crappy performance and excessive fees
Fees are insane and the performance of the fund is abysmal.
I am fairly certain a circus monkey could do better.
Speechless, poor performance
I am so sad I quit Australian Super and joined this crap ANZ stupid super. I lost nearly 9% since I joined them in the past half year. Too bad.
Pointless Online Access to your Account
I too had a One Path Corporate account which was transferred to the "award winning" ANZ Smart Choice Super account. After registering to access my super online I found that the only information about my fund was the name and it's total value. It does not tell me how many units I have nor the price - only the total value.
Customer service confirmed this info was not available online however I could call any time to get this information after spending 5 to 10 minutes in queue and undergoing an ID check. I have had a large number of managed funds over many years and this is the first time I have not been able to access unit balance or unit price online.
Many may regard this as a minor issue however for someone who tracks their investments regularly on home finance software it is an issue for which I am prepared to, and have decided to, move.
ANZ personal information manipulation - Check your Super records.
I had a One Path Corporate account which was transferred to the "award winning" ANZ Smart Choice Super account. Details of my insurance cover came through, and through some sleight of hand, ANZ have deemed me to now be a smoker and a blue collar worker. Note that the One Path Corporate Super account was with a white collar firm and the type of work conducted was clear by the firm name. ANZ have issued their letter in a highly deceptive manner, leaving it up to the client to check their status. Those who do not check their status will find themselves paying a lifestyle and work environment risk premium. A complaint has been filed, yet no one at ANZ has bothered to get up from their desks or pick up the phone to address the issue. I have lost trust in ANZ and am taking action to move my biggest investment - which is my super, to another provider. Clearly the ombudsman will be addressed first, as part of the process. Thanks for nothing ANZ..disgusting behaviour.
The only "award" I would offer ANZ is for the shonkiest service in the Southern Hemisphere...!
Terribe Service and Performance
For some reason the ANZ bank transferred my superannuation to an ANZ Smart Choice Account as my previous account was closed. This is the worst performing Super Fund and my retirement savings have been rapidly declining over the last 6 months since I was forced to join. Terrible service from the bank too. I am desperate to leave this fund. Do not be fooled by low fees. The low performance is no compensation.
Extremely poor performance plays on your future income
I have had ANZ Smart choice super for the past 3 years, while yes their fees are low their performance at the same time has been absymal, beyond terrible.
Would you like to know my performance in the past 3 years ? It's 3.5% on average for a "high growth" fund!!! If i actually put the same money in a Fixed deposit in a bank i would've earned more!
I'm very upset with ANZ Smart choice, comparable super funds performed 3 to 5 times more than them. I've lost so much money in the past 3 years thanks to them, don't they realize they're playing with people's futures and lives by charging you all of these fees and then they provide you with very poor fund performance ?
It's about time poor performing funds are penalized, admin/management fees should be linked to performance. I've complained to them and they told me that "the markets are bad", are you kidding me ? We had a huge bullmarket in the past 3 years (except the last few months) no excuse for 3.5% return! I'm now doing my research into moving to another fund.
I rolled my super from an existing account, over 1 month later and numerous calls I am still none the wiser to where my funds are!! every call gets a different response. it will roll in and I will be rolling it out!!! what a joke.