As of September 14th, 2020, First State Super rebranded to Aware Super. This rebrand also included the amalgamation of StatePlus.
Shop Elseware No Customer Service
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.
A good and timely response to my questions
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
Failure to repay fees for no service
Been with the fund for 50 years! They refuse to acknowledge I was charged fees for no service and all they are concerned about is avoiding any responsibility and compensation (the critical point I have continued to impress upon them is that I was never told I was being charged for the services I continually declined). They have absolutely no reciprocal loyalty for their clients and do not address personal issues. I would be interested to know how many of the 40000 odd clients they are assessing get compensation and what their circumstances were.... Very interesting too that there is currently a barrage of positive advertisements on facebook - have never seen such advertising by stateplus since the brc. I suggest this is in response to mistrust and disloyalty they have to their clients! Would be more beneficial to publish the results of the review they are conducting. Not one bit happy with a fund I have been with for so long and have a substantial account with. I am planning a move to another fund with cheaper fees and better growth results. They couldn't give a damn regarding my intentions!
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.
Rip Off Blood Suckers
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
Limited Investment options
I have two super accounts because different funds offer different investment options. First State had a good performing property choice. My other fund has an excellent infrastructure choice but not a good performing property one. I wanted to combine the two but First State does not have a dedicated infrastructure choice. In fact their individual choice of investments are quite limited compared to other funds. Not only that, they only allow one free change of investments a financial year, after which changes incur a $50 fee. They have not kept u...p with the times. My other fund allows a change of investments once a month free. However I have now found a fund that not only allows changes once per day for free, has a dedicated infrastructure fund, as well as many other choices not found elsewhere, but also allows direct investments in the ASX300 that you can trade daily. Why on earth would anyone want a DIY super fund when you have this? First State has hardly progressed since last century. I'm not unhappy with them in any other way, and they transferred my money very quickly, you just have to transfer via your new fund, done automatically. But a lack of investment choices and penalizing you for doing so more than once a year....ah...see yah!!
Low caliber investment managers!
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.
Poor performance 2018
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.
Account losing money rapidly
My account has been losing money very rapidly.
$4000 in the last 3 weeks.
The last 6 months lost approx $9000
It is like getting blood from a stone when trying to get information.
The person i spoke to on the phone indicated it was bad investments.
I hope whoever is making the investment choices is looking for a new job. ...
Lack on contact, bad returns, fees for no service
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.
Disgusting treatment of widow
I first sent my application for release of my super on compassionate grounds in on the 22nd of October. Evidently, once my application reached your offices it sat on someone's desk for FIVE DAYS before someone even bothered to contact me and tell me I needed to provide further identification prior to my application being processed (I had in fact already provided the ID it just wasn't certified for the love of god).
This was on the 31st of October which I sent in that day using priority post.
It is now the 14th of November and I am yet to rec...
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.
Received a letter saying my account had been CLOSED.
Letter received saying my account has been closed and they would like me back. I have not closed and had consolidated 2 other fund accounts with them at the beginning of the year.
I feel physically ill.
Stolen IP Fees of ~ $3,000, offered $300 in return....still waiting....
Become more complex to monitor
Been in Allocated Pension (Balanced) for many years, paying for financial advice that I didn't really need. Now moved to the Fixed Income Plan product which includes billable financial advice (ie: if no advice, no fee). Returns are lower than Australian Super (7% / 12%), but exposure to risk would be lower. Admin performance lets them down.
Very disappointed with high fees and lousy returns. Much information in my view withheld particularly in relation to what was laid bare by Royal Commission.
I was with this super fund for nearly 30 years and came out of it recently with less than impressive funds. I have since rolled the sum into another fund associated with a new job so hopefully things might build. You expect ups and downs with the markets etc but you rely on the fund manager (with experienced finance people) to make the appropriate investment choices and changes continuously over time for the strategy they have recommended for your age etc. One of the most frustrating and I think wrong actions is when superfunds automatically ta...ke out unwanted insurance premiums. I understand there are compulsory clauses and government legislation re insurance but it is when the information details are hidden in the plans or when starting a new job that you may have the option to opt out. It is often not clear and can be very confusing. And even though I was aware of these issues and looked out for them I still got caught out with all the superfunds I have been with taking out insurance i did not need or require. It then takes letters and phones calls to claim a refund. Opting in to non-compulsory insurance should be the default option, not expecting the client to opt out. First State have been helpful on various occasions when I needed assistance. The member account login service is also quite good.
Superannuation is Confusing
As superannuation is confusing to even the most academic person, the laws do change every financial year. My experience with dealing with First State Super has been really efficient. I found the website and online account option really helpful and user friendly. Each superannuation company will vary from another though. It is worthwhile to take the time to research the site to find the answers you are looking for,
With telephone calls with First State, the staff have always been very kind and professional. And unlike others, they do ask...for feedback on the service provided, which was great. I do agree with some of the comments made here about problems with financial advisors, as it is really difficult to obtain helpful advice on each given situation. Though this may not necessarily reflect on First State Super or any other superannuation company directly. As many of the financial advisors are independent, and are only affiliated with a range of banking or superannuation companies. The Money Smart website is helpful to identify if a financial advisor is accredited, but to date, have not found a site that endorses any particular financial advisor. Superannuation is very complex and becomes personal to every person. Dealing with First State Super, in my own experience has been very helpful. Ultimately though, any financial decision that any one person faces, is their own responsibility. Not even Financial Advisors can be responsible if you make a right or wrong decision, as they all have disclaimers protecting them.
Where are our ANNUAL statements from last financial year???
Still in my email inbox sits the email of 10 September 2018 stating that I should disregard all previous mentions of my 2017-18 annual statement and that it would be ready shortly. Nothing has happened. Every two weeks I ring the 1800 number to a call centre which seems to be fielding queries from all sorts of funds, each time to be told it will be ready shortly. Anyone joining this fund nowadays must be nuts!!! Warn your heirs and successors, fellow retirees. It was good as State Super Financial Services, seems shonkier by the week ever since as we are merged and acquired and are told the new logo/service/location/login/website are all "exciting".
Robbers and misery creaters
I deposited a rather large personal contribution after confirming with FSS that the amount will be allocated to the super account on a particular date. The amount did not arrive on the date they promised and that resulted in a loss of $2300 to us. FSS repeatedly refused to honour their promise that led us to deposit the money in the first place and told us to screw off. We told them we had 25 week old premature twins that need attention after having lost a child before that and no empathy at all. Clear cut intention of rip off and stealing. Fin...ally, when we went to SCT and threatened to go to Royal Commission, they offer to honour their promise. Took 200 hours of our time over 3 months, several sleepless nights, lots of grief and disruption of care to our premature twins before they budged and that too out of fear of Royal Commission. We resolved to check how else they have been ripping their members off and realised that that their service guarantee is to ensure super contributions are deposited into account within 3 business days. They have not been doing that for 6 years with all my employer contributions. When I raised that issue, the customer service promised to respond in a few days and it is over 3 months now and no response. Liars and thieves, worse than criminals. Zoo animals are better than them. You will probably see a better service in Timbuktu than FSS. I suspect what they have done to me is what they have done to many others resulting in members being disadvantaged millions. Would give them a negative hundred stars if possible. Shame I have to choose one star.
I have been with FSS for over 10 years and found them good, but loging into my account is impossible. When you log in on your site a message comes up saying Um.. This isn't super. Please help.
Worst customer service ever, its terrible and nasty real talk
If you like to waste your money and your time this is the answer ( First state super).I have been with them for 3 years now, horrible experience with their service team, sneaky and nasty and refused to pay my money back. Best thing they do is ignoring you enquiries and they are masters in deception. I will get heart attack soon because of them.
Same Experience - impossible to close account
I have exactly the same experience. FSS created a duplicate account in my married name when I got married. They did so without my consent and without any documentation. I have been unable to combine the accounts over 14 years while they have merrily charged me double fees. Every time I have tried there has been a problem. I am currently trying to do it again and transfer the balance elsewhere. They tell me they will not consider the refund of fees if I close the account. I have been trying to do so for over 1 month. Despite giving them m...y details and account numbers 3 times over, they have come back today saying say they can not find the accounts. One presumes they are willfully making it difficult for people to close accounts and transfer balances. The Regulator should do something about it. I also lodged a complaint with the FS Royal Commission, and would encourage other people to lodge formal complaints against this company. Truly dreadful Super.
Excellent Customer Service
Can't understand all the negative feedback around customer service. I have always found FSS representatives to be courteous and prompt. No complaints over the past 10 years what so ever.
No Customer Service, Deregistered my account and charging for services im not eligible for.
Ive had FSS for several decades as a legacy of what was forced on me for government work.
Since 2012 I have been in a horrible cycle of enquires attempts with a 2 week turn around to get a standard form letter automatically generated eMail back all of which list all these things available to me if I only ask, and ignoring that yes I have actually asked can you please answer. Lots and lots of long winded information, nothing informative!!!
This has ranged from trying to nominate beneficiaries that they reject. Ive also been trying to fin...d out exactly what the details of my death benefit policy is that I am paying for and why they are accepting premiums for something i'm apparently not entitled to as well as proof of my electing to take this this policy out. Ive asked very direct questions and a statement of account with all fees and policies and entitlements they bluntly refuse to provide. They have also deregistered my online account without any notification but now insist I print and handwrite a form to reinstate my own registered account I never deregistered. Pretty sure removing access to my own account is illegal and YES you read that correctly PRINT, HANDWRITE AND POST!!! - Hello FSS the year is 2018, 1990 wants its archaic manual processes back please. How does that work? I start an online account up by registering online they promptly cancel effectively locking me out of any information for my own fund but to start up the online account again I have to register on paper via snail mail??? Not to mention the ridiculous amount of manual forms I have filled out over the years only for these never ever to of been received or actioned. Perhaps FSS seem to miss the point that the fund is worthless if I don't have confidence I can even get any basic information let alone access the $ when that time comes. Missed the point FSS this is my money - not yours and your charging me onerous fees for a service you are simply not providing.
First state super have no customer service, they never answer emails in a timely fashion
Hi have a FSS fund due to working as a police officer, I have made a claim for TPD as per the insurance offered via FSS, I have been told even though they took money out of my fund for coverage, that TAL life claim I am not covered by them, and MetLife claim I am not covered by them, the two insurers involved with FSS. FSS claimed they were going to sort it out within 6-8 weeks or the matter goes to tribunal. It has been over three months, the case manager [name removed] doesn't respond to emails, and I haven't heard anything from FSS. So where...did my insurance money go, if these rip off companies claim I am not covered. I have a serious back injury and PTSD, so the delay is not due to medical evidence, they have enough according to FSS. Read the Canstar ratings of super funds prior to getting involved with this company, I would give them zero, but that option wasn't available.
Questions & Answers
Aware super I would like to know how your advertisement on TV represent super every time I see it I think of private health insurance not meaning to offend just my observation
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!
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 firstname.lastname@example.org
Their conservative growth option has performed horrible when benchmarked against other funds. Aust Super Conservative balanced has delivered approx 8% more in returns over the past three years. IOOF has the multiseries 50 which is similar risk, this has delivered approx 9% more pa over the past three years. Aware has a very ordinary track record with investment performance. Vic Super had a much better strike rate but i understand they are not calling the shots under the new merger.
How to get payment code?
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 email@example.com for more assistance.
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