This fund is not worth your time
I had set up an account at the start of a job and after 3 months super was paid in when i rang Australian super they told me i had 3 lots of fees taken out as they were managing the account. How can they do anything if no money in account. Also fees are much higher than other funds like host plus. Trying to get the money out has been a joke and yesterday they told me if the account earns money i won't be able to withdraw but then friday next week it would go down again by $10 and I would then have to redo the process to withdraw again. Shocking customer service, high fees for doing nothing. Would not recommend or use this company ever again
They do not respond to telephone calls nor emails.Still waiting on where my contribution is which was made several weeks ago.
Also have concerns about bringing their investment management inhouse when past performance has been good
They make a delay to make payment and Customer service is unsatisfactory
I had trouble in getting income protection on time and I could not contact the case officer even after attempting multiple times. Finally the manager of the relevant department came into the scene and resolved the matter. The customer service specially the case officer disappointed me. The case officer was very supportive at the beginning but eventually has become a big frustration for me.
One of the best...
I have found this fund to be easy to set up, easy to transfer funds to, has a good price on insurances and offers adequate investment options. I have performed a few investment changes and these have been processed within a timely manner. Their communication is clear and the have a daily news service (via email) which I have found to be valuable. My returns have exceeded expectations. I have not experienced any problems whatsoever.
If I could give no stars I would. Just joined a few months ago but will be withdrawing what funds I have in there immediately. They really need to get their customer service staff to know what customer service means. I had a guy on the phone who was absolutely disgraceful and I will be reporting him to the appropriate department.
Up and Down
I am happy with their returns on their standard mix. I like how you can DIY. The app is great. I like the live chat but it takes awhile to get your message across.
Not much transparency regarding increases and returns on a daily basis. For all I know they could be taking some off the top.
Their members direct option stinks. Seems broken, not polished at all. The website sucks. It's slow and the reporting is a day behind. ASX provide 20 min delays. Why can't you? Wouldn't cost you anything.
All these unusual fees I wasn't expecting to pay.
Can only place an order 6% below or above the current price. Can't buy and sell the same shares same day. What crap is this? Some shares increase / decrease more than 10% during the day.
Brokerage fees expensive. $16.50. Compare that to SelfWealth which is $9.50.
For $400 p/a I expect not to be crippled. Also $400 is a lot for low balances yet this is the one fee even if you have 10k or 1 million. How fair is that?
Better off using my own income and place it in super. I know less taxes inside of super but probably end up with a lot more in the long run trading outside then depositing it in.
Worst decision I ever made
I had read that Australian Super was the top performing fund so I decided the switch. Transferring my fund balance wiped over $600 off the balance. As if this wasn’t bad enough, over the 9 months my super was held in this fund it barely increased. It was terrible! You can’t call them, unless you have an hour or more to spare and when you get through they don’t know anything and you end up waiting for what is ultimately no answer. I recently transferred back to Tasplan and in just 3 weeks my fund has grown by over $1100. Why oh why did I ever go with this mob? Don’t be fooled by the hype. This is not a top performing fund and the customer service is beyond appalling.
Income protection insurance is a joke. Customer service terrible. Takes ages to get through if calling and no help
Income protection insurance is a joke. Was injured nearly two years ago and still no money. Out of work and in pain. Will probably lose house. I have only now done some research and this is not an isolated case. Try to call and wait for 30-45 mins to get through. CaSe manager won’t call back. Hopeless. Avoid Australian super at all costs
A casual employer put a small amount of money in this fund, presumably on the misguides impression that they would care for it and grow it for my retirement (in one months time LOL). Instead they took it all for three useless insurance policies that I never asked for and certainly didn't need. Eventually got their web site to work after experiencing the same difficulty and frustration as everyone else here has had on the phone. I then cancelled the policies but guess what the money is already gone! I can only express this as theft.If you can eventually speak to someone they are totally unwilling to help. My advice would be to keep well clear of them.
Don't believe the hype!
I had been with Australian Super for a couple of decades but fortunately never really had to deal with them until recently. I can now say that by comparison, Australian Super makes Telstra customer service levels acceptable and even makes Centrelink look good! I would class it as a criminally negligent operation. Don't be seduced by the annual returns - if Australian Super was also assessed for things like member focus, competence, responsiveness - even basic honesty - it would be well down the list. These things really matter when you need to access some of your super quickly or want to make an insurance claim. Looks like REST and HESTA are the best of the industry funds when it comes to treating members fairly and civilly. Don't waste too much time trying to get someone at Australian Super to return your calls - it's too frustrating. Keep records, and when they inevitably disappoint, let them know that you intend to make a complaint - https://afca.org.au/make-a-complaint/superannuation/ - and you might get a more rapid response. But best to just get your money out ASAP. Australian Super operates on a 'plenty more fish in the sea' customer service ethos. And with literally millions of super accounts, you are always just a little fish in their eyes. You simply don't matter, and it shows.
Impossible to contact
I have tried to call over a period of more than a month, and tried to use live chat, and it's impossible to get in touch with anyone. This has been for an issue that cannot be done in my account, and is not answered anywhere in their web material. Good performance of funds and good choices, but terrible customer service - so frustrating and enough to make one switch to another fund.
Worst Service ever
I don't believe I found a company worst than Telstra.
Sent paperwork to them to have my son's super transferred into our family super fund and got automated response saying will be contacted within 3 days - that was 6 weeks ago, sent follow up emails but no reply. Tried to ring a few times and told 20 minute wait so hung up, eventually decided i would just have to sit on phone till they answered, eventually got through and they wouldn't talk to me cause it was my son's super fund - fair enough, asked them to call him as it's their fault we had to call in first place and so he wouldn't have to wait 20 minutes to talk to some one, they said they wouldn't call him, not allowed -what! Who can I complain to - nobody was there answer, are you kidding! I sent the same form to amp at the same time and money was transferred within a week. So then I remembered when I rang up and spent 5 minutes going through all the options they give you an option to call you back, so i rang back and got through to someone within 5 minutes, i gave them my sons name and they said they would ring him back within 3 days - what! so they lied to me about not being able to ring him back!
will wait and see if they call him back, I don't hold high hopes.
This company is useless, look at all the bad reviews they get.
On top of this I complained to ombudsman about them, they are just as hopeless, they give them 3 months to reply - 3 months!!!!! what planet are they living on? australian super are supposed transfer the funds within 3 days!
They just don't want to hand over your money.
And it's owned by the ACTU ! Obviously looking after themselves , not the workers.
Been with AUSTRALIAN SUPER for 20 years ..Good while money is going IN .Try get money OUT different story ! I was entitled to draw on my super as pension as I had reached 'Preservation' age. After SIX weeks trying to set up TTR fund [transit to retirement ] still NOTHING! [ something I am told that only takes a few days ] After numerous phone calls [ Can not talk to a human ! ] and emails [average response time ONE WEEK ] I was told that document ie : tax file number declaration form didn't arrive through post ..TWO weeks lost and had to chase THEM ! I email a copy to them. They have it there for over a week and still NOTHING done ! I lodge a complaint to AFCA [ Australian financial complaints association. No joy out of them except telling me [by government law ] that AUSTRALIAN SUPER is given three months to respond. I am the victim NOT them ! Looks like BIG BROTHER has got it 'sewn up' and consumers are just scum and have NO rights. Rolled my money over to another fund and have written to a current affair to expose these low life maggots! I recommend that consumers do not trust this company and maybe if the word spreads, ALL 2.2 MILLION members will withdraw there money !!
Would NOT recommend
I recently rolled over from other fund, only to discover AUST SUPER have closed my account without my knowledge ...
So now my funds are sitting god knows where.
They have previously posted me a letter advising they've received the funds the date and amount ? however cannot locate my funds? go figure...
Worst company to get hold of by far, not to mention when you finally do get through they have some of the rudest employees
Very difficult to speak with a customer representative
I’ve been trying to call them up for the past 3 days to activate my account and no one answered. I’ve left my details for them to call me within 48 hours but I received no calls. I have to press a lot of buttons to get to where I want when machine answered my call. My experience is totally unpleasing and frustrating.
I sought to roll my balance to another fund (what a good decision). Poor communication meant multiple interactions. Phone support useless. Then they rolled it into Ausfund, not my fund.
Worse than Centrelink
Just got a letter to say my account was closed, this had been setup with my payroll department and they were in the process of sending all my super deductions. I called as I was worried where my money would now end up? After a really really long wait I got someone that showed a complete lack of interest and had absolutely ZERO knowledge her response to me was to set up a new account and my payroll department should do it, not sure what country they were from but all new forms etc would have to be completed by myself my employer would not do that, another waste of time for something I had already done. They had no idea where my money would end up that was being sent to my closed account or how I could get it back.
What an absolute joke your organisation is, the customer service is the worst I have come across in my entire life totally incompetent. I wish I read the reviews on the Internet first as seems like the reputation of this so called Australian company is pathetic your CEO should be ashamed of the customer service provided. In hindsight grateful the account was closed without me knowing at least I have dodged a bullet.
Wait Times Are Out Of Control
I have been ringing and ringing, waiting for this MOB to answer the phone.
I thought the government was the only one who is out of control, going back to Cbus.
Phones not being answered
For some time now Australian Super has not been answering the phone. You get recorded messages telling you to press numbers etc but then blank - not even music. What is going on?????
The most useless Superannuation Company I have had to deal with.
I called on behalf of a client whom wished to cash in his superannuation. It took 15 minutes to get through and then was told that he needed to pass the ID test. My client was not very fluent in english therefore found her very difficult to understand. Told her to send me a blank form and that I would do it manually.
Refused as he had not passed the ID test. I was getting very frustrated as all I was asking for was a blank form. The most rudest company I have ever had to deal with. Stay away from these useless idiots.
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