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Future Super
4.9 from 633 reviews · View Statistics

15 questions from our users

Nilay Chakraborty

Nilay Chakrabortyasked

The way you have answered few queries and feedbacks, that we believe in our ROI and policies, can you assure that members will get a fixed percentage return as your fees are amongst highest with around same return % ? Since your charges are fixed irrespective you give positive or negative returns, all big shots have created a lobby to rip people by different named funds.

No answers
bretann

bretannasked

Why does Future Super NOT reply to my emails??
I am looking for a Super company to change from Statewide (who are hopeless) and have sent two emails with questions to Future Super who have failed to reply.
Are they always this unhelpful and ignorant??

5 answers
Future Super
Future SuperFuture Super

Hello, although it is not showing in our Q&A, we did respond to your previous question on here. Given this is a third party platform, we are not able to identify you. We did perhaps receive an email from you, sent about a week ago, that our Member Advocacy team will get to shortly.

bretann
bretann

Would it be better and perhaps quicker if I phoned you??

Ben
Ben

That's odd, I've found them super helpful and responsive every time I've called or emailed. Yeah try a phone call. And great choice moving, I'm really happy I moved a couple of years ago.

Alexandra W.

Alexandra W.asked

How much do your annual fees equate to.

2 answers
bretann
bretann

From what I can figure out Alexandra their fees are 0.98% on your balance plus an Admin fee? of $1.80/week
You will have to get confirmation from them but apparently they REFUSE to answer questions here or email

Alexandra W.
Alexandra W.

Thank you @bretann
I actually called them to ask what the actual break down would be based on my current balance and they would refuse to advise me over the phone as well as the rep was not qualified to give me that information.. thank you for your feedback though.

Jeff H.

Jeff H.asked

How do I transfer from MLC fund, utterly crap?

3 answers

The fund you wish to transfer into, whether Future Super or another fund, can advise you how to do this. Just phone them or email them.

spaceman
spaceman

I just transferred from MLC (Which is crap). All I had to do is the application online with Future Super. Took less than 5 minutes to sign up. Future super took care of the transfer and the MLC account was closed automatically (good riddance).
The funds transfer process took about two weeks for me.

Jeff H.
Jeff H.

Your opinion on future super?

Kenji

Kenjiasked

Does future funds allow early release of superannuation?

1 answer
Future Super
Future SuperFuture Super

If our members need to access their super early, then as long as they are approved by the ATO, yes - Future Super will release the mandated amount back to the member.

Larabie

Larabieasked

Good returns are great but i also want to be able to communicate with my fund and to get answers and make changes, and quickly, if necessary. What sort of customer service does Future Super offer - a call centre in India?

3 answers
Future Super
Future SuperFuture Super

We have a team of Member Advocates who work in our Sydney office. You can contact them by calling 1300 658 422, or by emailing info@myfuturesuper.com.au.

Larabie
Larabie

Thanks for your response Mariela. I'm assuming that means you do not communicate with your members/customers and address any issues they may have via call centres based in India or the Philippines?

Future Super
Future SuperFuture Super

It seems like you're intent on believing that, despite it not being the truth. No call centres outside of Australia for us.

Daddy

Daddyasked

Hi! I am a 22-year-old final year university student. At the moment I hold a casual position as a teacher. I need to build up a reasonable fund for retirement in the future. The company I work for has opened superannuation for me. But it looks like not having good online customer reviews. I like to join with 'Future Super' what are the benefits I could have other than opening a term deposit in a Bank?

1 answer
Future Super
Future SuperFuture Super

Hi there! We're stoked you want to join us. Given that everyone's circumstances are different, we can't talk about what would benefit you, specifically, however you're more than welcome to check out our three investment options and give us a call on 1300 658 422 or email info@myfuturesuper.com.au for further information.

Hjw

Hjwasked

What is the difference between the investment options? Im on the balanced impact. Curious if the light impact is cheaper in fees or changes your return percentage? Thank you

1 answer
Future Super
Future SuperFuture Super

Hi there! You can find the differences between our investment options, including fees and returns, on our website: https://www.myfuturesuper.com.au/options/overview
For a more comprehensive overview about each one, please read our Product Disclosure Statement. That can be found here: https://content.myfuturesuper.com.au/forms-docs/FS-PDS-20190705.pdf

Anita Cole

Anita Coleasked

If I transfer 60000 super what is the net of fee return per annum on your different investment options

5 answers
Sarah
Sarah

https://www.myfuturesuper.com.au/choosing/performanceandreturns

Sarah
Sarah

"Returns shown are to 31 Oct 2019.
^ Returns provided are after fees and taxes have been taken out. Returns for periods of greater than one year are on a per annum compound basis. Return of capital and the performance of your investment in the Fund are not guaranteed. Past performance is not a reliable indicator of future performance."
That last sentence is standard for every superannuation and investment company.

Sarah
Sarah

Superannuation returns at retirement are no good if we don't have a liveable planet due to climate change induced by man's fossil fuel obsession....
Investing in renewable sources of energy is really investing in the future of the planet. But that is only important if you intend to live on this planet in the future...

Sarah W.

Sarah W.asked

I am happy with my current super fund but I am researching Life/TPD insurance options through super. Does anyone have insurance through this super fund and if so how has your experience been so far?

No answers
Lauren F

Lauren Fasked

Hi I am a Future Super member. While I love the ethical side of it and returns are good so far, the fees are very high. Do you anticipate that these might reduce as the fund acquires more members and the set up costs are reduced?

3 answers
prasadgc
prasadgc

I'm looking for an answer to this, too. I recently rolled my super into this fund because of some good reviews, but I'm disappointed that the fees are so high, and no one seems to answer this point when it is raised. I may roll over my super to another fund unless I get some satisfactory answers.

Future Super
Future SuperFuture Super

Hi Lauren, we're glad you're liking the ethics and the returns! Here's some info regarding our fees:

Firstly, we believe in the work we do, and we know we do it well. We invest lots of time and resources into our ethical screening process, making sure our investments are aligned with our members' values, and monitor the companies we invest in to ensure they continue to uphold these values. While this is a cost, it is a vital element of our commitment to our members.

Our fees sit within the moderate bracket for ethical funds, which does sit higher than some industry super funds.

We recently introduced an initiative where our members who have balances less than $6,000 will not be charged our dollar-based admin fee. This is an improvement on our older policy which was to not charge this fee for members with balances below $1000. This protects our lower balance members and helps their balance to grow. In addition to this, we also offer a rebate of the dollar-based fee to our members who are on parental leave as we believe our members shouldn’t be penalised for taking time out of the workforce.

Deep ethical screening takes time and money, and our fast growing fund is smaller than most industry funds.

In answer to your question: yes! As Future Super grows, it is our intention to steadily reduce fees where and when we can, and we've already had a fee reduction last year.

If you have any other feedback for us, or you’d like to chat further, don’t hesitate to give us a call on 1300 658 422 or shoot us an email at info@myfuturesuper.com.au

Lauren F
Lauren F

Thanks for your response! Appreciate the additional info.

Elizabeth Mercer

Elizabeth Mercerasked

Would really like to be in an ethical fund. What guarantee do you give

Lily

1 answer
Merlin Baker
Merlin Baker

I know about the Director from previous dealings, before Future Super, and also on the recommendation of reputable people in another organisation, 350.org.

giraffe84

giraffe84asked

what are the total annual fees?

2 answers
Tim
Tim

They are 1% for the basic passive index fund and nearly 2% for the funds that invest in renewables. They are way too high

Future Super
Future SuperFuture Super

The total annual fees are calculated depending on what investment option you select.

As Future Super grows, it is our intention to steadily reduce fees where and when we can, and we've already had a fee reduction last year. You can see all of our fees here: https://www.myfuturesuper.com.au/options/overview

We recently introduced an initiative where our members who have balances less than $6,000 will not be charged our dollar-based admin fee. This is an improvement on our older policy which was to not charge this fee for members with balances below $1000. This protects our lower balance members and helps their balance to grow.

Lyn62

Lyn62asked

I have an SMSF that provides me with an income stream commenced in 2004 from a ATE defined benefit for Centrelink purposes. In 2018 I was unable to obtain an actuaries certificate so this structure cannot continue and I have to restructure my fund. I have been advised to wind up my fund and purchase a retail annuity that would also be ATE. Otherwise I could purchase a MLP through my fund but I cannot see how this could be sustainable. I have financial planners giving me this advice. Are you able to offer any better alternatives or advise me on any ATO or Centrelink problems that might unexpectedly appear? Thank you. Lyn Payne.

1 answer
Future Super
John B.Future Super

Hey Lyn. Thanks so much for getting in touch with Future Super. Unfortunately, we are unable to offer personal financial advice. It sounds like your situation is a little complicated and an accountant or financial planner might be in the best place to help you.

We don't offer annuities - instead, we have a super fund available for people in the accumulation stage as well as account-based pensions.

If you would like some further advice to your that of your current financial planner we could recommend some financial planners who have expertise in ethical investment. Feel free to get in touch with us via info@myfuturesuper.com.au. I hope this helps a little.

Thanks again for getting in touch.

Cheers,
Freya

Donfitz

Donfitzasked

My wife and I have a SMSF of approximately $1,300,000 in pension mode administered by a Cavendish Super. I am 86 in uncertain health and would like to simplify the financial situation for when I die.
Do you have a balanced product that would handle completely all the administration and pay a monthly pension to my wife. If you do, what would be the entire annual cost for the product and what was the performance of the product for the last 5 years.

Don Fitzgerald
Emeritus Professor

1 answer
Future Super
John B.Future Super

Hi Don,

Thanks for your question. My apologies for the delay in getting back to you.

Future Super offers an account based pension. This allows you to draw a regular income from your retirement savings while investing them in line with your values. You can choose to get monthly, quarterly, half-yearly or annual payments and you can usually choose how much you receive (within the mandated minimums and maximums outlined in the PDS).

Our fee structure is simple, we charge a $93.60 annual membership fee, and 1.79% investment and administration fee. Our pension fund's one year returns to 29th of June 2018 were 10.5% (keeping in mind past performance is not a reliable indicator of future returns. These returns are after fees.

We handle the administration of all our member's accounts. This includes regular pension payments.

I'm happy to answer any other questions you might have! Feel free to get in touch with us at info@myfuturesuper.com.au or give us a call on 1300 658 422.

Kind regards,
Freya

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