Colonial First State

Colonial First State

 Verified
Colonial First State
1.5

125 reviews

PositivevsNegative
14% · 17107 · 86%

Transparency
1.5
Customer Service
1.6
Insurance Options
1.8
Income Protection
1.6
Rates and Fees
1.7

Reviews

125 reviews
MIOK J.
MIOK J.4 posts
 

Can't cash out our pension with the Colonial First State!

We were an expat family in Perth, OZ many years ago. Now we are trying to cash out our pension from the Colonial First State as we are back in the UK. We sent off all the documents they requested and they sent us the cheque in Jan. When we tried to cash out through Bank of Scotland, the cheque was rejected. Since then, we have been chasing the Colonial First State. Today is the 10th of April STILL NOTHING has been sorted out by the company. The Colonial First State is the worst financial institute we have ever experienced during so many years of expat life.
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Jeffrey D.
Jeffrey D.Illawarra, NSW2 posts
 

Dreadful

Dreadful customer service, rude and obstructionist…and incompetent…greatly increased my stress while organising my mother’s affairs, so much so I gave up and let my legal team deal with it…Sad to think I once had several policies with this lot….never again! Geoff
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Steve
SteveSouth East Queensland, QLD4 posts
 

Ruthless Insurer and very poor Superannuation Performance

Please Avoid any of Colonial First State Products

They are absolutely appalling insurance company that takes away the working class persons hard taxed money and makes Billions in Annual revenue.

Please do not commit to any of their products

They are one of the most expensive insurance companies to get salary continuance insurance.

Also when you claim ( during that hard time when you have no income and a mortgage to pay)

They do not pay out . They will fabricate some evidence to prove you negligent.

From that point they are not obligated to pay up for your claim.

Please also note that AIA insurance owns Colonial First State .

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Frances
FrancesSydney, NSW43 posts
 

Performance used to be good but not in recent years

I started using CFS more than 20 years, I used their investment products and superannuation products. Their performance used to be good but not in recent years, because of that I switched my investments to other companies.
Transparency
Customer Service
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Kiki Cooke
Kiki Cooke
 

Error after error

Super was rolled over with partial withdrawal. They sent all the money to our account, not just the small withdrawal amount, ALL!! Big error and now call them to fix and promises and promises. Didn’t call back as promised, no email as promised and still not fixed!!! Disgusting customer service. Fob off
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Georgo
GeorgoSydney Surrounds, NSW14 posts
 
Transparency
Customer Service
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Paul
PaulPerth, WA
 

Worst advice ever

Against my personal judgement my super fund recommended CFS EFT investment. In 18 months Feb 2022 to September 2023 they managed to earn me just - point 1% while taking considerable fees. Meanwhile my other investments returned healthy figures. In addition, when I tried to withdraw money the automatic system stopped me from doing so. I had to call to request and was pout through to three people in succession who tried to prevent the withdrawal. I would nevr go near them at all. I am asking my super find never to give such advice again.
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gavin c.
gavin c.Perth, WA
 

[Content Removed] WASTE OF TIME

Absolutely freaking crap show and useless as they come will waste your time and cause you more stress you get nothing for the fees you pay they just pinch people's money screw you guys hope you go [Content Removed] had enough of your nonsense
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Albert
AlbertBrisbane6 posts
 

Scammers, thieves

I couldn’t believe it, I have worked 8 years+ in Australia only 2 with Working holiday visa at the time of withdrawal of my super (exactly my f*** money)you taxed me 66% of the all lot. You stole my money, your organisation should rot in hell together with Australian government. Useless thieves together with those “admin fees” that constantly stole from me. Disgusting
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Keegan
KeeganSouth East Queensland, QLD5 posts
 

Lazy Thieves

They take the wins, your super takes the losses. They charge the most fees and they provide the worst customer service. I did 10 years here. After 10 years I withdrew all of my funds which was less than I put in. Proper trash.
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Praveen
PraveenMetropolitan Adelaide, SA
 

Underperforming Fund

Was with Colonial First State for past 5 years, and now happily switched to another.
The fund was underperforming and this is clearly visible when compared to my friends' with other funds which had almost the same balance 5 years ago. Rates and fees are slightly higher compared to others. But they were transparent in communication, which I really appreciate. Switching mainly because there are other funds available which are better performing.
Transparency
Customer Service
Insurance Options
Income Protection
Rates and Fees
A Nun
A Nun
 
Matt
Matt11 posts
 

Quality!

Quality fund, transparent on all matters and customer service the best in the market!
Bentley
BentleyGreater Melbourne (Metropolitan), VIC
 
wba89
wba89Sydney, NSW2 posts
 

Fees are way too high

CFS charges very steep fees -- although they lowered their fees a bit recently, it's still way too high
Transparency
Customer Service
Insurance Options
Income Protection
Rates and Fees

Questions & Answers

loss of monies
loss of monies

I had Colonial First State. Super and was drawing a pension from it from about 2007. Last year they told me to find my own advisor and they tried to put my super into annuities . Who do I contact to see if I might join the class-action . I am 83 and had to move my super out late last year and find an advisor quickly.

Stephen banks
Stephen banks  
Russ J
Russ J

Avg return over 3 yrs on $100,000

Chris
Chris

I saw on 10 News this evening that CF Choice is rated very poorly. Do you have a comment as I am a member

KPP
KPP  
See all Colonial First State questions

Details

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Contact info for Colonial First State

Mon8:00 am - 7:00 pm
Tue8:00 am - 7:00 pm
Wed8:00 am - 7:00 pm
Thu8:00 am - 7:00 pm
Fri8:00 am - 7:00 pm
SatClosed
SunClosed
  • ABN: 98002348352

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