All your funds have been withdrawn
I got a letter from AustralianSuper saying that I couldn't claim a deduction for contributions as all my funds had been withdrawn. The problem being I have not withdrawn any funds.
When I called customer support they advised someone would look into it and get back to me in the coming weeks...
Completely unacceptable processes, hopefully they haven't wrongfully sent me funds to someone else...
Customer Service Non Existent
Sadly the issue of Customer Service continues.
I had an ongoing problem with online access, but no one at Australian Super seemed interested in helping.
Unable to talk to anyone outside the call centre, despite indicating I was making plans to remove my funds.
At no time during this period did anyone from Australian Super contact me.
Poor website service, poor customer service, needs entire overhaul.
Got employer number & no temporary password. No reset password because verification emails never arrive. Received letter with employer number, still no password. Letter contained address for employers login...... webpage down.
Poor customer culture
Recently I applied to withdraw about 5% of my super from Australian Super.I'm over 65 so thought there would be no problem.I submitted the appropriate form more than two weeks ago with the website promising a response in 5 working days.I got no response.After two weeks and several frustrating phone calls " we can't tell you when you'll receive the money,you'll just have to wait,no I can't put you through to a supervisor" .I have no idea when my funds will be released and no one will tell me.
Australian Super produces good returns but their customer culture is full of the endemic cultural arrogance commonly found in large financial institutions.
Proceed with care.
Banging my head against a brick wall with this lot-No stars
Changed my membership number without informing the customer,sent my personal details to the wrong address!I am receiving the run around with this lot! If I have to clarify my details again with another long winded phone call ,I am going to SCREAM...How did they get it so wrong!
Cannot trust call centre information
After receiving the confusing notification about the new choice income limits due to COVID-19 I decided I should call Australian Super for clarification. I did not want my income to drop by half to the new minimum of 2%. I needed it to stay at 4% to cover my cost of living. I called them in late April. They advised me I did not need to do anything till July 2020. On July 1 I called Australian Super again. I was assured that my payments would remain at 4% but go up to 5% when I turned 65 later this year. Tonight I thought I should check my onlin...e account. After logging in I discovered my next payment was going to be at the 2% minimum and half of what I need for fortnightly living expenses. Sadly the staff at the information centre are totally lacking in knowledge. I will now have to call a 3rd time to get this corrected. This time I will ask to speak to a manager. I never requested my income to be reduced automatically. It should only be changed following an instruction from me.
I transferred my super to these novices just before Christmas. Honestly compared to my previous super group Aus Super has dropped by an extra 15 percent during the pandemic ,and I curse the so called friend who recommended them .
They claim to be biggest.
BIGGEST LOSERS !
Not sure how a person who's company (Redstar Transport) went broke and couldn't pay it's 600 workers a day before Xmas is on the board. Govenment ended up paying the redundancies!
Stay Away from this Fund
I have tried for a month to transfer my money to another fund which doesn't have huge account fees. I have just spent 54 minutes on the phone saying the same thing that I have said in my past 4 phone calls. They are difficult and obstructive when you are attempting to obtain information regarding transfer.
Appalling customer service
Continually ignored requests for information and would not call back.
Unable to talk to relevant department. Had to wait 6 months for a transfer of funds. Staff rude and disinterested
Wish I could give no stars
Their behaviour is borderline criminal. 6 months trying to get my name changed on my account so I can roll over the funds. Despite giving them everything they've asked for, they still haven't done that & continue to stonewall me. Don't give them your money, you'll never get it back!!!
Terrible service, have been trying to make a voluntary contribution as an employer for months now. Everytime I call or use the online chat system, I get given different, contradicting information. One week I am an authorised contact, the next week no one can speak with me because I am not. No one seems to know what is going on or is willing to help. Worst experience!
Disappointing stance on climate
Very disappointed to see that in 2019 Australia's biggest superannuation fund reduced its support for climate-related proposals compared to previous years ('Two Steps Forward, One Step Back', ACCR). A secure retirement is as much about a safe and secure place to live as it is about money. "At BHP's annual meeting last year, AustralianSuper, Unisuper and Mercer were the only three funds to vote against a resolution that asked the mining giant to exit memberships of lobby groups considered to undermine the Paris Agreement goals, according to the report." (The Sydney Morning Herald, 8 June 2020). Disgraceful.
Found them great
I’ve been with Aus m Super for about 10 years now and found them one of the best.
Most others I have been forced to sign with an employer, and they ware poor, but Aus Super has been great.
They’ve been very responsive and it was easy to consolidate all my supers through them.
Don't even consider them!!!!
I went to them and they hit me with ridiculous amounts of fees as soon as money went into their account. I was hit with 9 different fees for one single month!!!! I asked why they took so much for fees and they didn't have much to say. I have been in minus ever since. If you want to see your money disappear, then go to Australian Super! That should be their commercial. I am now transferring my super to a more trusted super fund.
Deeply Concerning Performance
Australia’s biggest superannuation company and 16th in performance during the pandemic? I am disappointed and stunned to see the truly awful results by Australiansuper during the pandemic and subsequent share market crash.
I believe their performance was ranked 16th during this time with many other smaller funds outperforming them.
I have the balanced fund and was deeply concerned with the performance in relation to its correlation with the stock market. I believed balanced was just that, but on doing some research their exposure to the vola...
Performance charts ie. High Growth, Balanced etc are cleverly concocted but do not give any information on how these figures are achieved or applied.
Currently the Corona virus situation has caused a lowering of share prices, loss of super income for most etc however anyone investing in the only positive return shown on the charts shown by Australian Super, ie. cash (1%) or International shares (8.36% @22/5/2020), will be surprised to know this means nothing in terms of a positive return on your entire portfolio if invested for example in inter...
I wanted to move my super into their Choice Income account. Website just kept crash half way through. Was like this for a week so phoned them. So many times my call is cut off. Finally I get through and am told to email an paper application. So I do this and service is not too bad and the account is opened. Now I want to set up online access. Once again the website crashes at the end. So once again the drama of trying to call them with long waits and calls cut off. Im told "oh yes I think there is a problem with the website try again tomorrow"....One week later the website is still not working. Whats the point trying to call again nobody can help? Oh and don't even think about sending an email enquiry. They say 5 working days but it will be 10 and the answer will be a cut and paste not answering your question.
Update, original review left for others to see.
I have finally received the money, it took quite a while but it all worked out in the end. It was a case of my claim being sent to the fraud department. I would say that the lack of communication in regards to my claim being held pending investigation leaves a lot to be desired, however after contacting them and demanding an answer they were very helpful. It is unfortunate that it has to be done, but for the people that haven't gotten a response yet you need to DEMAND an answer. That was the only way i got my claim looked at. I added 1 star to ...my original review because they were very helpful and apologetic in the end. Old review----I have been with them for about 10 years. Like many other people i put in a claim when the applications opened. I had another super account with CommBank with about $1000 in it. The plan was to clear that and the rest from Aus Super. The CommBank money came about 5 days after application approval. I tried to check my Aus Super account online and there was a server error and has been that way for about 2 weeks. I currently live overseas and its hard to call sometimes, after weeks of waking up early and trying to ring and everytime being on hold for 45 minutes it hung up on their end. I finally spoke to someone today who told me they had no record of my application. He said that maybe the details they had are different to the ATO details. I asked him why CommBank was able to pay me with personal details that are at least 10 years old. He had no idea. I rang the ATO, and this is important, Told them everything. They said they had gotten many complaints about Aus Super and sent through an escalation. I suggest anyone with problems call ATO and talk to them. They said it would still take a bit, all my details are up to date, so now they have no excuses left. Will update my progress.
Don't touch them. They deserve no stars.
I have been with Aust Super for 20+ years. I am over 63 years of age.
I have been affected by Covid-19. So I lodge a claim to take some of my unpreserved amount when I became unemployed in February. It was rejected by Aust Super because I had not been on Jobseeker for 26 weeks.
So I waited until April 20 to lodge a claim under Covid-19 Stimulus package. The ATO approved on 23/04. I checked with Aust Super and they said 5-7 working days.
Two weeks later, on May 4th, I phoned them. 45 minutes later I was told it was being processed manually...
Waiting two times longer than was told for my money
They said I would have my money within 5 days it's been weeks and I still haven't gotten it.
I called them and they said "It's being double checked for safety cautions you wouldn't want your money going to the wrong place would you? This makes no sense.
Actively working against average Aussies.
It is shocking just how many unethical businesses they invest in. James Hardie, Tabcorp, Caltex and of course the coal mining giants. And that was only on the first page!
Poor, incompetent & ignorant
My claim had been under review for 17 months and customer service and qualification of the case officer horrific. From poor handling and a lack of both empathy and efficiency to poor communication and administrative skills the entire process was one big nightmare. I had to ramp up serious debt to survive due to the lengthy process and was being treated like a criminal with not an ounce of sympathy, compassion or support shown. Words can't express how disappointing this experience has been and I can only recommend to stay away from them. Serious need for in-depth review of their recruiting and hiring process as staff is not qualified and hasn't got the intellectual capacity or emotional intelligence to perform in customer facing roles.
I am retired and highly dependent upon superannuation income. I have been with Australian Super for years. However! Their online website has been extremely unreliable when you attempt to change your investment options in the time window of 15mins before 4pm being their investment change cutoff time. I would guess due to the system being not capable of handling high volumes of users at that crucial time. They have cost me thousands due to this continual failure. I tried a few years back to contest this failure with them to no avail and received ...nothing but objections from their higher hierarchy and rude staff. At this time of Covid-19 where this can cause losses of very high magnitude, it happened again yesterday. I have now had my fill of them and will be changing funds. All of this said, there investment returns have been reasonably good but their the lack of online reliability has cost me a lot more over the years. Just one more thing - a month or two ago their property option was the only investment choice at all which was returning above zero returns while all else were returning zero or negative and I'm sure many retirees, like myself were invested in it to attain the minimal .01% or .02% it was returning. In March it inexplicably dropped by 7.58% causing massive losses to my account and I'm sure, many others. After listening to the news, I heard that the reason for the mighty drop was due to the funds obligation that only required to report the value of unlisted property every 3 months. How wrong is that. That event cost me a small fortune. Try losing 7.58% of your life savings overnight. In New Zealand, their rules of disclosure prevent this from occurring. The Australian Super hierarchy reported on the news a day or two after glossing over the situation and saying - don't worry your super should be looked at as a long term investment. Try being a super dependent retiree!!!!! What a statement.
End of week 3 and nothing.
Balance still the same, no contact from them in 3 weeks. Have been told it is flagged with no progress for the last 2 weeks. No valid reason for this kind of treatment. I'm very suspicious of this culture and will be changing funds immediately. They are not to busy to answer calls or feed you nonsense on the chat, but unflagging an alert seems to be beyond their capabilities.
Questions & Answers
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??
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.
I agree with this but there should be some way to get a true impartial reviews!
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?
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.
How long will an approved payment for financial hardship to be in my account
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!
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