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AustralianSuper

AustralianSuper

1.5 from 528 reviews · View Statistics
See the Best Industry Super Funds in 2021 as rated by Australians on ProductReview.com.au.
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Reviews

  • Transparency
    2.0 (18)
  • Customer Service
    1.9 (20)
  • Rates and Fees
    3.0 (15)
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Bill
BillMelbourne
  • 46 reviews
  • 30 likes

You get what you pay for.

published

Firstly the positives. They manage to give a decent return on super and have low fees. When and if you can get a hold of them they are helpful. Negatives. Trying to get a hold of them is very difficult. Their staff knowledge varies dramatically. Ask for things in writing. The pi and tpd insurance is a pure con job and protects their provider TAL. They are beuraucratic and SLOW. Trying to get your money out is difficult and time consuming, but possible after lots of forms.

Transparency
Customer Service
Amberrr
AmberrrSouthwest, VIC
  • 4 reviews
  • 3 likes

I can see where my fees are going and I don't like it

published

I recently have had to change my name and of all the avenues I've been chasing to ensure my credentials are consistent, my poor experience with Australian Super really prompted me to review. This has been a stupidly bureaucratic process and I have wasted so much time and gotten nowhere. In particular I found customer service to be more concerned with abiding by an internal rule book than stopping to consider common sense. The call centre is a write off for customer experience, I felt the operator was actually excited to argue with me, and I just gave up.

Customer Service
Rates and Fees
Incentivised Review No
Grb
GrbSydney, NSW
  • 2 reviews
  • 1 like

Member Direct is trash

published

Very poor User interface. Response slow. Many times you cannot execute a trade because “market is currently closed” when market is well and truly open. If you are in a hurry to trade you will miss the bus with member direct.

Transparency
Customer Service
Industry Super Funds

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Paul
PaulGreater Melbourne (Metropolitan), VIC

Poor customer service compared to other funds

published

I have experience with three industry funds and Australian super is the worst by far in terms of assistance and customer service. I wanted some advice but all they wanted to do was put me on to a contractor who wanted to charge me for advice that I could get from my previous funds for free. I will be moving my funds from Australian Super very soon.

Transparency
Customer Service

poor customer service, too many manual forms and no automation that is of any use

published
Transparency
Customer Service

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Ed. AU.
Ed. AU.Perth, WA

AustralianSuper deduct cash from pension fund payments without any records

published
Transparency
Customer Service
Christopher
ChristopherPerth, WA
  • 2 reviews
  • 1 like

Poor customer culture

published

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.

Transparency
Customer Service
Steve
SteveRichmond-Tweed, NSW
  • 3 reviews
  • 1 like

Cannot trust call centre information

published
Transparency
Customer Service
Cathy
CathySouth-Eastern Region, NSW

Disappointing stance on climate

published

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.

Transparency
Customer Service
Industry Super Funds

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Rickster
RicksterPerth, WA
  • 16 reviews
  • 17 likes

Deeply Concerning Performance

published
Transparency
Customer Service
Oliver N
Oliver NNorth West, QLD
  • Verified

Update, original review left for others to see.

published
Transparency
Customer Service
Luke B.
Luke B.
  • 15 reviews
  • 11 likes

Waiting two times longer than was told for my money

published

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.

Transparency
Customer Service
Lyn Hawkins
Lyn HawkinsGreater Melbourne (Metropolitan), VIC
  • 13 reviews
  • 7 likes

Poor reporting

published

I have been with Australian Super for over 20 years and I’m now retired. Their reports are very basic and it’s impossible to speak to a one.
Their fees are comparable to other large funds but since the customer service is non existent I would not recommend them.

Transparency
Customer Service
James D
James DSouth East Queensland, QLD

Too expensive for an industry fund - both in fees and insurance premiums

published

Do your research and shop around, i'm in the process of moving to another industry fund and wish i had years ago. Fees are less and insurance premiums are around half as much. Did you know that Australian Super increased their weekly fee in 2019 from $1.5 to $2.25 and now they're adding a % of gain fee in addition to the fund manager fee... fees are a killer for long term returns, like compound interest but in reverse.

Transparency
Customer Service
Joan
JoanIllawarra, NSW

Never should have joined

published

Opened a TTR. Opened it a month ago. Going to leave asap. 3 different people will tell you 3 different things. Send wrong forms, keep you on hold forever. Worst service ever. Biggest mistake ever. Was in AMP, at least they knew what they were doing. This company deserves a zero. Don't join

Transparency
Customer Service
Industry Super Funds

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Questions & Answers

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!

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