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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
    3.0 (6)
  • Customer Service
    2.2 (6)
  • Rates and Fees
    3.8 (5)
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MATT
MATTmelbourne

Difficult to get correct information

published

I was with this fund but found it difficult to get information when I was nearing retirement. As it was important for me to have everything clear I decided to leave

Incentivised Review No
glendone
glendoneGreater Melbourne (Metropolitan), VIC
  • 4 reviews

Good returns. Competitive insurance rates. Lousy service.

published
Transparency
Customer Service
manoftaijiquan
manoftaijiquan
  • 3 reviews
  • 3 likes
  • Verified

room for improvement...

published
Transparency
Customer Service
Industry Super Funds

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Fossil
FossilSydney
  • 9 reviews
  • 7 likes

TPD not worth it through Super

published

Feb 2019 I rolled over to Aus Super, new employer, a few hiccups getting started. Aus Super automatically insured me, despite my selection for NO TPD/Death insurance! Took nearly 7 months to fix that, luckily I kept copies of EVERYTHING! In the process I had cause to look up legislations, policies & laws (it's a really mangled system for Super in this country i.m.o.) & produced the evidence required to have them refund ALL the insurance premiums paid but I am still arguing the Admin FEES attached to the processing of the Insurance premiums paid!
Shop around for your TPD/Death Insurance, it's been my experience that the Super companies in this country charge way too much for TPD/Death cover.

Transparency
Customer Service
John50
John50AU
  • 4 reviews
  • 4 likes
  • Verified

Rollover super money new account

published

I selected Australian Super (AS) as the union I was a member of stated that you should invest your money in a industry fund and the size of funds that AS have in management was also taken into consideration.

Opening an online account was relative easy, the hardest part was dealing with the amount of time it took for the rollover monies to enter my account, twenty three working days, many phone calls made and many different answers received, in the end the money was deposited in my account with earnings.

It was a terrible start but got there in the end I will post an updated review in twelve months, AS can be difficult to deal with customer service but once you indicate that you are unhappy they lift their game.

Transparency
Customer Service

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Bob
BobGreater Melbourne (Inner), VIC

Improvement Needed

published

Returns are good, fees are low, online self service is great, but be prepared to wait if you need to speak to someone. Customer service needs some improvement. Phone and webchat not very efficient.

Transparency
Customer Service
QFSR18
QFSR18Perth, WA
  • 5 reviews
  • 1 like

Too Early to tell

published

I've only just joined up. Only because Canstar reviews them as Top in Australia and MLC are rubbish with high fees.
I called and waited..waited..waited like everyone else here. So I hung up and rang again - I selected i was Indigenous / TSI - Lo and behold they answered my call!!!!! Also the waiting music was different they played indigenous music like the didgeridoo!!! I thought we were all ONE!
Anyways - My query was answered and here i am writing a review to let everyone know - if you cant get through select the Indigenous button. Not sure why they even have that as we are all one. FYI im of coloured skin so no racism here at all.
Thanks

Transparency
Customer Service
Incentivised Review No
Leigh H
Leigh HCentral Highlands and Goldfields, VIC
  • 2 reviews

Superannuation insurance classification

published

Have been paying for insurance cover for at least 13 years now and find that my standard cover is actually high risk employment cover which, of course, I am not . I think the wording should be changed to reflect this and make it more obvious to customers.

Incentivised Review No

Beware Australian Super Property Fund

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SukMaan Kong
SukMaan KongHobart, TAS
  • 19 reviews
  • 11 likes

Not good in communications

published

I was thinking of joining so I sent a few emails to enquire about some details. It appears that they use overseas operators to answer their online enquiries. 3 email exchange later, no one answered my actual questions. All they did was copy and paste their policy or send me the joining form. If this is how efficient they answer questions about joining, imagine when you want to cash out your super. Having second thoughts about joining now.

foxy 777
foxy 777Sydney, NSW
  • 14 reviews
  • 13 likes

I Was Treated Appallingly And Some Of The Staff At The Call Centre Could Care Less!

published

Ok when you eventually get to talk to someone-not easy.

published

Good till 50k balance

published

Australian super are the largest industry fund and pretty competitive fees till your balance reaches 50k then they have a $408 fee for my super which is pretty poor form. You would think they would not penalise those with higher balances. It boggles the mind. Why should higher balance people help fund lower balance people?
Competitive below 50k balance
Extra $408 fees for balance over 50k

Ben C
Ben CSydney

Just changed my super over

published

Australian Super lift their game

published

Following my earlier , somewhat negative, review of Australian Super I am happy to report that they have responded to my concerns in a timely and helpful fashion. As mentioned previously I have no reason to criticise the fund's financial performance, rather it was their customer service that I had found wanting. Hopefully they have addressed the previous deficiencies in a permanent manner.

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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