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Aware Super

Aware Super (page 3 of 8)

1.6 from 148 reviews · View Statistics

Reviews

  • Transparency
    1.8 (40)
  • Customer Service
    1.6 (51)
  • Rates and Fees
    1.8 (26)
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Rosemary

Rosemary

  • 4 reviews
  • 4 likes

An incredibly stressful experience

published

I was with FSS for many years (approx. 15), paying also for Income Protection for over 10 years. I placed a claim as I had unfortunately fallen ill only to find that FSS refused to pay, leaving me struggling for the 2 years I was entitled for payment. They showed no concern that I was in hardship and had to use my super early to survive - leaving me now with no super.

It was a dreadful time as I was not only refused payment but also made to wait approximately 18 months whilst TAL and Metlife passed the claim from one to the other to assess. This experience was totally unexpected and extremely stressful.

3 comments
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Rosemary
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Wood duck 3

Wood duck 3Curtin 2605, ACT

Choose a better performing fund

published

Been with this mob since 2012. I recently moved to a better performing industry fund.
Handy hint. Ask your new fund to move your money across. Don't talk to State Plus.
I have been taking the minimum 4% allocated pension, but in recent years my lump sum has been shrinking. It should have been growing.
So the gross return has been less than 4% plus the 1.6% fees. Meanwhile the median return of all super funds has been around 6.5%.
I was sent a list of the 10 worst performing funds in 2017-18. State Plus was on it.
On top of that I have had a different adviser every year when my annual review came up and this year they forgot to remind me the review was due. I found half my fees are for 'advice'.

Rob

Rob

  • 6 reviews
  • 12 likes

July 2018-Dec 2018 = $90 profit.

published

What a poor performing Super Fund between June-Dec 2018. Thousands were contributed and made only $90 in 6 months. FSS is a joke and has not been performing well in recent times. I have no confidence in them anymore. They are losing MY money. Time to switch.

1 comment
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C De Silva

C De Silva

  • 5 reviews
  • 8 likes

Unable to transfer funds to my super fund for many months now .

published

Extremely difficult to transfer my existing funds from first state super to my SMSF. Now trying for many months
They don’t seem to have any interest about the customers . They are following a complicated process that makes difficult for any existing customer to close their account. Not willing to explain any information they are requesting but keep on sending the same email . Customer representative who answers the phone calls don’t seem to have any understanding of the specific subject matter ,no point calling them . So I have to say one has to be very careful before opening an account with them ( which is extreme easy and supportive ) because the exit is nearly impossible

1 comment
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Robin

Robin

  • 4 reviews
  • 8 likes

Retirement Assistance sadly lacking

published

Went into a FSS 'walk in office' to get advice on our imminent retirement. We were told they could not help us. They wanted to slough us off to their privately contracted financial advice service and charge us $2,000 per person approximately to provide retirement assistance. All we received were brick walls to our questions. We left with nothing but a brochure on retirement income streams. Thanks for nothing FSS. At the very least a superannuation company should provide free assistance to convert an accumulation fund to a pension fund. They provided us with absolutely no assistance. Shame on you!!!

1 comment
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Ricapoody

RicapoodyBUDGEWOI

  • 6 reviews
  • 11 likes

Satisfied

published

I have been with this fund since retiring 10 years ago, initially in the Balanced portfolio but for the last 3 years I accepted the risk and switched to the more aggressive High Growth.
Despite drawing a regular income, I still have almost all of my initial capital in the fund. An excellent result! I could not have achieved this making my own investment decisions. The balance has fluctuated and become “scary” at times but trusting in First State has paid off.
Fees are reasonable and member’s on line access is excellent.
Any direct dealings have been trouble free. I make a point of providing exactly what is required (i.e. dot the I’s and cross the T’s) and have found the service to be excellent.
Richard

1 comment
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duennak

duennakUnincorporated, SA

  • 3 reviews
  • 3 likes

Difficult to deal with, arrogant staff

published

Member since 1972, always difficult to deal with, i have retired and eligible to withdraw MY money but there is always a problem despite complying with rules. Latest issue is I needed cash for car repairs, completed the form they sent me and other documents expecting the money to appear. But no they wait 10 days and send me an email saying the form is too old and demanding a new form along with another bank statement and I D documents. I will now be withddrawing all my money and put it in a bank. At least it wont go backwards there. Hopeless! Make the effort and transfer to a fund that looks after its members.

1 comment
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Gary Samuels

Gary SamuelsSydney, NSW

  • 2 reviews
  • 1 like

Losing money

published

First State Super is my employers choice. I am planning for retirement and sacrificing as much salary as I can. First state Super is losing it for me. My colleagues are also losing money with this fund. Time to find a better fund.

1 comment
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Max

Max

  • 2 reviews
  • 1 like

Shop Elseware No Customer Service

published

I have found First State Super to be stuck in the past, beurecratic no customer service. They are not competitive and have a very antiquated way of doing business. They recently took a premium of over $400 out of my account with out my permission despite not having any insurance. I have contacted them on a number of times and could not even talk to a manager. I would definately look elsewhere when considering First State Super. They are fine if you dont have to contact them when they make a mistake they are very slow to fi
x it. I am still awaiting my refund.

1 comment
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A good and timely response to my questions

published

I had a query about the contribution tax in my transaction history. The FFS staff were quick to respond and gave me information that was accurate. I am also satisfied with the way my superfund is performing, knowing the volatility in today’s markets. My super has rebounded quite well since late last year.

Keep up the good work FSS

Neil

Neil

  • 3 reviews
  • 8 likes

Failure to repay fees for no service

published

Terrible

published

Took a year to receive payment of a death benefit.... sent details 6 times and they claimed to have not received them.

Completely unfair as we had funeral expenses to pay and are now completely out of pocket due to incompetent administration and inefficient handling of a claim.

Still waiting on payment despite it all being approved etc.

1 comment
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Chris Weston

Chris WestonSydney, NSW

  • 6 reviews
  • 2 likes

Rip Off Blood Suckers

published

I did casual work and had not choice but to put my super into a First State Super account. The super amount was $43.57. Although it is not a lot of super, it was taken by First State Super due to their stealthy opt out insurance policy. Because I did not know I had to opt out of their imposed insurance. I lost all my super.

$43.57 into super fund 31/07/2017
$0.29 interest earned
$6.54 - tax
$5.63 (Direct fee (net of tax) Not sure what this fee is for.
$31.69 Insurance premium I never asked for. My life and permanent disability insurance is with my main super fund. Who in their right mind puts a $31.69 insurance fee on $43???

Balance at 29/1/2018 $0.00

1 comment
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Dave

DaveMudgee

  • 2 reviews
  • 1 like

Limited Investment options

published
1 comment
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Strike1

Strike1Syndey

  • 3 reviews
  • 1 like
  • Verified customer

Low caliber investment managers!

published

I joined FSS's based on historical returns and the low fee. I was not looking for 10-11% "high growth" returns but a stable and secure investment and therefore opted for "balanced growth". Over the last one and a half year my net returns [(current balance)/(employer contribution - contribution tax)] were 2.7%. I could have got 2.8% with ING's Saving Maximiser account. I am disappointed and moving to another super fund.

1 comment
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  • Verified customer

Poor performance 2018

published

Disappointing results on the growth fund June - Dec 2018 resulting in about 4% loss + inflation rate of near 2%... surely no CEO xmas bonuses went out this year. I've been with FSS, my employer default fund for 12 years and salary sacrificing for the past 5 years. With these results I think I should consider other options.

1 comment
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NeilM

NeilMGosford

Account losing money rapidly

published
3 comments
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Linda

Linda

  • 2 reviews
  • 8 likes

Lack on contact, bad returns, fees for no service

published

My husband and I have been with StatePlus since 2014. Our financial adviser left and we were not told by Canberra Office. This office used to be responsive but since the move to Nishi it is very difficult to get anything out of them, let alone a return phone call. Both my husband and I have left messages for contact with no results. We are both considering moving our money out of this fund to a more customer-focussed fund that has better returns and lower fees.

Jess

JessBurnie

  • 2 reviews
  • 6 likes

Disgusting treatment of widow

published
1 comment
Aware Super
Aware SuperAware Super

Poor performance

published

Am a new member and find the returns to be very poor and my fund is decreasing despite being assured that as a retiree drawing a monthly pension, my funds are in safe portfolios. I get the impression that the fund managers are not managing the funds well and hence their investments are risky. I am disappointed having them manage my super.

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Questions & Answers

Fee

Feeasked

I have a conservative growth strategy. Why have I lost over $7,000 in 15 days from my super?
The stock market does not reflect these losses and things are improving after COVID, yet I am losing money by the thousands.
Why are your investment strategies so poor? Or please advise why ‘conservative growth’ fund members are losing so much money?
I do not wish to change this investment option as it is meant to be safest and low risk so why the poor performance?
Not at all happy!

1 answer
Aware Super
Aware SuperAware Super

Dear Fee,

Thank you for your question.

Fluctuating returns are a normal part of the investment cycle. We have an investments team who are actively managing the allocation of risk in the fund to manage market volatility. At Aware Super, we remain focused on the long-term performance of your portfolio. There are three main ways we manage exposure to markets over time. These are diversification, active asset allocation and managing foreign currency exposure.

You can read more about our approach to investments on our website here: www.aware.com.au/member/investments-and-performance/how-we-manage-your-investment/investment-approach

If you have any other questions or would like to discuss your investment option with us further, we would love to hear from you. Please call us on 1300 650 873 or send us an email to enquiries@aware.com.au

Kind regards,
Natascha

Ananth Nagesh.

Ananth Nagesh.asked

How to get payment code?

1 answer
Aware Super
Aware SuperAware Super

Hi Ananth,

Thanks for your message.

If you require any information that relates to your Aware Super account, please feel free to contact our Service Centre on 1300 650 873 or email enquiries@aware.com.au for more assistance.

We're here to help.
Beau

Kate B.

Kate B.asked

What is the interest paid frequency - annually, monthly, quartetly?

1 answer
Warren
Warren

Your super account consists of a number of units that are invested as you choose. The value of the units will go up and down depending on the strategy you choose. Eg shares, property, cash. Interest is not paid like a bank account. The value of your units will change daily. :)

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