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AustralianSuper

AustralianSuper Questions & Answers

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25 questions from our users

AKS
AKSasked

How is the customer service of Australian Super managed fund. The key is their long wait times on phone , it is always > 20 minutes !

Is this the case with every caller?

Why then , it is called the best Super fund on Canstar site??

2 answers
Kaz
Kaz

Any business can pay a fee to Canstar to gain x amount of stars and ‘best of’ ratings including gold silver bronze. Not a reliable truth at all.
Finder.com for finance sujects, this very product review and choice review for bit of everything subjects, and trip advisor and smart traveller for accommodation, restaurants, sites and tourism.

AKS
AKS

I agree with this but there should be some way to get a true impartial reviews!

Tom G.
Tom G.asked

I was with AGEST until it was taken over by AusSuper in 2013. Total fees went up but I stayed with it. Net returns seem OK but I haven't gone into this topic as deeply as I should have.

I'm now stuck overseas because of the pandemic and earlier this year applied to convert my super account to a pension account (I was 70). AusSuper couldn't have made it more difficult if their primary aim had been to hang on to members' cash for as long as possible and defer cash outflows in the form of pension payments. After months of frustration and providing additional documents, the application was finally approved.

That application approval email welcomed me as a new member of AusSuper. Yet I had been a member since 2013. Not altogether surprising though since during the entire saga I had received a couple of emails from "Austrailian Super'. Logging onto my online account, I now keep getting told that there won't be any details available until they receive my money. They have had my money since 2013 so where is it now? Consequently, I would be reluctant to say that the company's customer service and administration is top-notch.

I'm now having second thoughts about leaving my hard-earned cash with this lot. Can anyone recommend a better industry super fund?

1 answer
Kaz
Kaz

Well Tom, for a start, why are you even still alive at 70?? I thought thats what COVID and the vaccine was for - getting rid of all us ‘oldies’ (that is anyone at 50 or so it seems lol!) And I am a registered nurse!! Like I have said previously most super funds are six of one and half a dozen of the other. At the end of the day they are there to make money for shareholders and double tax for the government. And if they do that well, thats some hellava bonus for the top dogs. Seriously, good luck and I am so sorry for your situation.

David B.
David B.asked

How long will an approved payment for financial hardship to be in my account

1 answer
Kaz
Kaz

When you starve to death David, and die as a homeless person. Then whoever is to inherit your super can go through their very own nightmare with your AustralianSuper benefit until they die of waiting too. BUT how quick are they if the shoe is on the other foot? If you owe them something they are all over it. If you are half a day late paying insurance fees - that's it - insurances cancelled. And all my insurances change figures every month??. Only account keeping/service fees are consistent - albeit a waste, cause you right now (or a couple of months ago) are/were needing some account service. Honestly, WTH. Worse thing is all super mobs are the same - its all about the shareholders and big wig bonuses!! Good luck cause they will eventually get to you!

Ian M
Ian Masked

Good afternoon.
Iam 70 years old & still work overseas and my accountant suggested i start a super account.
I was a member with Australian super but withdrew my funds about 7-9 years ago. I would like to put in $60,000 to start and pay in monthly,can you advise how to start.Ian Victor Mathers (DOB) [DOB Removed].

1 answer
Ed. AU.
Ed. AU.

Maybe call AustralianSuper. the 'phone no. is on their website.
Also have a look on the ato.gov.au pages for answers.
Could pay a tax advisor for advise.

Why your real name and DOB is on this site for everyone to see is anyones guess?

Diana R.
Diana R.asked

Is the customer call centre based in Australia or somewhere else?

1 answer
Ed. AU.
Ed. AU.

All the people I have spoken to appeared to be in AU, and most are native English speakers. I have asked and some say they are working from home during the pandemic.
I had spoken to one with a Indian accent that was tough to understand, but he was dealing with my complaint and wasn't a call taker, he was calling from Vic.

C B.
C B.asked

Anyone else having issues with Australian Super withdrawing their ATO approved covid19 early release of super?

1 answer
Jen
Jen

I can't even get the money from my retirement account.... I've waited three months.

Sharon
Sharonasked

Has anyone been declined from the TAL but The Australian trustee approved the claim

3 answers
Laurel
Laurel

I was never with TAL but apparently my income protection was approved last December way before Christmas and now there is some hold up from Aust Super and they could be rejecting my claim

Sharon
Sharon

How can they approve it and then decline it

Sharon
Sharon

TAL is part of the technical review department

Samuel P.
Samuel P.asked

Has anyone received there money yet? Surely it will all come it at once for all of us?

3 answers
Oliver N
Oliver N

Eventually yes. Shortly after posting here i contacted them again and demanded to talk to someone higher up. They basically said that my claim was flagged like several others. In my review I said they had no record of my claim, I then found out that was a lie. I confirmed all my details and about 5 days later I recieved the money. To be honest I am now happy the way they handled my situation, of course the beginning was a nightmare, but I do have a bit of sympathy. I suggest ringing, demanding to talk to someone else, or make a formal complaint.

Chris McD
Chris McD

I lodged a complaint with AFCA it was resolved in 36 hours, 12 hours after I signed with another super fund.

Chris McD
Chris McD

I did ring them repeated and ask to be put thru to a supervisor. I got text message the next day. No help at all.

Gq S.
Gq S.asked

Did anyone get there money yet

2 answers
Rob
Rob

Not me, approved on 21st

Rigw
Rigw

Nah not yet still waiting, I have no idea what’s going on over there

Rigw
Rigwasked

Did anyone get paid out there super yet? I’ve been waiting since the 22nd of April without any proper answers
Thanks

2 answers
Rob
Rob

Mine was approved 21st and I have absolutely no progress. It seems that Se people have been paid going on the reviews.

Rigw
Rigw

Yeah I just don’t understand what’s going on everyone I know with other funds it took 1-2 days and they got the money it’s really upsetting

Geoff
Geoffasked

To all the people getting messed around by Australian super. Did you by any chance roll your super into this fund within the last few weeks?

3 answers

No but I’m certainly going to roll it out as soon as this is done. What a crappy way to treat customers!

Glen H.
Glen H.

No I did not roll my super into this account recently. I have been on disability with centrelink. And like the one above me, as soon as this is cleared and paid, I will be removing the rest iof it as well. There is a person on here who has been waiting for 3 months to get a claim on his mother's life insurance for three months, which was before covid cause all kinds of wrenches to be thrown in the works. He also has no communication. I think that makes things clear on one account, they have no copmpassion, and they will have none in the future.

Helen W.
Helen W.

I have been trying to roll my super OUT of Aust Super for two years now and they wont release it to my preferred fund.

Sam H.
Sam H.asked

Has anyone made a claim on life insurance and super on behalf of someone
I’ve done all the requirements to make a claim on my late mother’s account who suddenly passed away 3 months ago I can not get through to them about where it’s at and they never respond to calls or email can someone help if they have had a similar situation and got it resolved I have outstanding bills of hers I need to pay I just want everything to be over with :(

4 answers
Suelorr
Suelorr

I have been helping someone but you must make sure everything is correct on application as they try to delay payment

Alex Smith
Alex Smith

AustralianSuper will try and not pay you out.... The big boss owns a lambo and hopes to pay it off with its customers fee's... Change your super company and you won't have an issue.

Sanya T.
Sanya T.

I am in the same situation and don't want to pay the tax but they are making it impossible to get the funds out prior to her death. i have done everything and they are now telling me that it is with the Trust Office and there is no time frame and when it will be processed.

Judith A. Walsh
Judith A. Walshasked

What was the last six months interest returns on a pension superannuation?

3 answers
Toad
Toad

Cant help you here
After almost 7 weeks of frustration to access my money ,I rolled over my money to another fund ..Had enough of AUSTRALIAN SUPER's ABYSMAL customer service

Alex Smith
Alex Smith

-70%.... Any profits you make with this company, they ensure to take it off you in fee's and charges. You will only be in 0.5% positive gearing with this mob... They are worse than pay day loan sharks!

Ed. AU.
Ed. AU.

It's not easy to find on their site, if at all. but this is a link to their pension performance page.
https://portal.australiansuper.com/investments-and-performance/retirement-income-performance/investmentsperformancefytd.aspx

Elvira Fleming
Elvira Flemingasked

Hi Good Morning ! I would like to transfer my super annuition and join your company please give me an advice?
thank,
Elvira Fleming

6 answers
Garf
Garf

Hi Elvira! Before you do this, it may be best to go to a Super comparason site to find the best product (features and fees).

Andrew
Andrew

DON'T do it! Go somewhere else.

jule61
jule61

Ok. It is concerning that Elvira Fleming asked this question a year ago and no one from Australian Super has gotten back to her. To Australian Super - where is your response?
I suppose they may have a policy of not responding to comments in social media, but productreview.com.au is the most accessed review website in Australia. To ignore comments and questions on this site would be unwise.

Vicki
Vickiasked

Can a super fund add income protection insurance without your consent and then send a letter advising that it has been done and if you don't want it you can opt out?? Should it not be the other way around. i.e first ask whether you want it and get you to contact them directly?

7 answers
jame14
jame14

Sorry I have no idea

Steve K
Steve K

Yes some super have compulsory insurance, the fee is incorporated in the super fees. That is why you need to research first and choose a fund that suits you.
Regards

Yes absolutely. The Trustees of the fund control it, not you. Also many super funds get "payments" back from the insurance companies. They say it benefits members like you. Kenmore Financial are professional Financial advisers and can recommend alternatives if needed.

Channi
Channiasked

Which is the best super fund to join or get my super rolled over to in order to access it due to financial hardship ?

4 answers
Son Bien
Son Bien

If I was you and I have the choice to choose my superfund from the start, I would totally go for high rating superfunds such as Esuperfund, Xpress Superfund or Dixon due to their very informative website as well as incredible responsibe help desk team. Unfortunately, I was automatically enrolled for very bad superfunds such as REST or Australian super from my previous employers, and I only realized how bad they were after I depart Australia. In my opinion, you can use Letter of Compliance to ask your current employer to pay super into your prefer super account instead of having several super accounts (the fees and charges will eventually turn your super accounts into 0)

Garf
Garf

I would consult a Super broker and avoid a Financial Planner in order to save on unnessary fees. Explore online!

Chris Weston
Chris Weston

I'd check Canstar. They just released the best super companies for 2019.

Wayne
Wayneasked

I have had my TPD approved a couple of weeks ago, How long does it take for them to transfer it into my nominated bank account or am I asking to much off them?

3 answers
Colipup
Colipup

Hi Wayne Australian Super should contact you by text or email advising that transaction has been processed. I had the unfortunate situation that I did not follow up and they had deposited my funds into an incorrect account. On follow up I asked them to tell me the account they had deposited and it wasn't the account I gave them. They then rectified this issue. When dealing with Australian Super you cannot communicate too much. Good luck!

Wayne
Wayne

Why I am Asking as My claim was approved 3 weeks ago and the money is in my super account but they are not releasing it to me, I have called them and sent in emails. It still sits in my Super account. It takes me around 1 minute to transfer money into another account mine or some one else. it is taking them 3 weeks..??

Alex Smith
Alex Smith

It's taken me over 5 years to get mine going.... And I am still hitting a wall! Have all the proof in the world and the catch 22 is... If I move my super then I lose all chances of my insurance.

Laina.S
Laina.Sasked

My mum recently passed in January 2017 and my sister and I have been trying to claim my mums super and death benefit payment through Australian super. Despite the amount of certified and witnessed documents needed to process the payment I have now been told by the case manager that they are unable to process the payments by electronic funds transfer. I think it's just another excuse for them to hold onto the money and earn interest. Is this happening with anybody else? Is it silly for me to go to someone higher up and complain about how unorganised they are and how unhelpful they have been?

2 answers
Mary
Mary

Not silly at all! This has been my experience too over the past six months. Try looking online at the govt 'Superannuation Complaints Tribunal'. It tells you the process to follow I.e. you need to send a letter of complaint to Aus Super and give them 90 days to respond before approaching the tribunal. It is only in telling an Aus Super supervisor/manager on the phone yesterday that this was the process I was about to undertake that things have supposedly been resolved.and I should (hopefully) be getting my husband's super as of next week.

Alex Smith
Alex Smith

They will not try to help you at all... You cannot take it up further unless you search for the Upper management email addresses which I have done so.

Andrea Kealy
Andrea Kealyasked

I'm an Irish citizen. I left Australia in February 2016. As far as I was aware I had five years to claim to my super. I tried to access my account but my email address was not recognised and no matter what I did I couldn't log in. I made a complaint and was told that my account was closed when the balance reached zero. No explanation as to how it has reached zero until I pressed for it (even then it was a poor response). I have asked them twice now do ATO have it; they have not answered that part, instead told me that 'It was depleted by fees and the Insurance charges (Life, Total Permanent Disablement Cover and Income Protection).'
My friend signed up to the same super fund at the exact same time as me and left Australia with me also. She had no problem claiming hers, which wasn't depleted. Has anyone had a similar experience?

2 answers
nahdoo
nahdoo

I would write to Australian Super a letter (not email) )and ask them for statements to show how the the funds have been depleted and ask for an answer in 14 days and if you do not get it then contact the Ombudsman by letter enclosing a copy of your letter. Send your letter to Australian Super by registered mail so that someone has to sign for it. Also keep a copy of everything you write to Australian Super and the Ombudsman.

I presume Ireland has this type of thing in their mail system. If you want to get a quicker response send everything air mail as well.

Australian Super actually has a link to the Ombudsman on their website.

Good Luck

Andrea Kealy
Andrea Kealy

Thank you Nahdoo for your advice :). Australian Super actually emailed me back today and said that my employer has actually never made any payments into my account. I don't understand why they couldn't have said that in the first place though instead of leading me to believe that my funds have depleted from fees and insurance. I have contacted my employer so I hope they can shed some light on the situation!

g j
g jasked

Is anyone else having trouble with there income protection from australian supper?

4 answers
Dab
Dab

Sorry I don't have income protection as I'm now retired!

Deano
Deano

Well i started my IP claim about Nov 16 and its still going ive been told its approved they are just calculating what my monthly return will be which i get back paid from Jan 16 so i cant say trouble as of yet but its quiet dlow and drawn out.

nada
nada

nothing but trouble they were rude useless and conniving

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