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Worst Super Fund I've ever encountered
I joined Future Super at the beginning of 2019. I transferred a large amount of Super. I wanted to be ethically responsible with my money. I shopped around, read reviews and thought it would be great. My money did absolutely nothing for the entire time it was invested. It ONLY increased due to my super contributions. When I finally left FS for another fund my investment had made $1451 in 2 years. When I moved my money to another fund in two weeks I'd made $457. I know things fluctuate, but FS was terrible!. I'm sure the reviews on here are fake too. I really DO NOT recommend Future Super. The fees were really bad also.
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DPSydney
- 4 reviews
- 1 like
Worst ever
I finally took my Super out of Future Super and within a week (of my money being in my new fund) I had earned on my investment a third of what I'd earned with Future Super in a full year. Future Super is a ridiculously terrible Super Fund. I think the "excellent" reviews are fake as well. I paid so many fees and my investment only went up when my employer paid into it monthly. The rest of the time it just went down due to its poor performance and fees. Do not use this super fund.
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That GuyPerth, WA
- 14 reviews
- 20 likes
- Verified customer
Waste of time, dodgy, cannot login, money missing
Signed up, logged in on day 1, sent money to my account and a month later it still isn’t there. Emailed support, they asked my DOB, I replied and 2 weeks later no reply and now i’ve been locked out of my account. Waste of time and half of these reviews seem fabricated. Do not recommend at all.
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Great premise - horrible execution
I really wanted to like Future Super. The concept is great, the execution is unfortunately severely lacking.
If you think about applying for insurances, make sure you have a good 3 months to spare and lower your expectations. You'll be presented with an inferior option that you'll likely decline, and then they apply it anyway. You'll discover that funds are not arriving on your account and that customer service takes weeks or months to get back to you if at all.
There are other funds out there with the same focus - try them while Future Super sorts out their many issues.
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bretannMetropolitan Adelaide, SA
- 42 reviews
- 67 likes
Go elsewhere as they cant be bothered
After some glowing reviews here I tried to invest with Future Super.
For the full sad and sorry story scroll down to the Questions and Answers section where I am not the only one dissatisfied with their response to new prospective clients
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GrahamSydney Surrounds, NSW
never again run from this mob as fast as you can
I am over the preservation age so can withdraw funds as I require them. I lodged a request for a small amount on the 20th April and received conformation of my request on the 29th April. Despite all my efforts to find out what is happening I have had no progress. I have funds with Australian Super and can withdraw online and have cash in my account usually within 3 business days.
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Horrendous customer service and attention to obligations in light of COVID payouts
Currently 14 calendar days and 10 business days into the wait for remittance of an early covid release. No response to 3 phone call with messages and two emails. Future Super - your customers need you to action off your obligations. We are now working with the ATO after being in contact directly to resolve the situation and make a formal complaint so hopefully others don't have to deal with the same. Once the payout has been received, we will be closing the fund and moving forward with a more dependable fund.
2 comments
Hi Mariela,
That's unfortunate I've checked my phone and email inboxes and there is nothing to be seen from future super. I've just forwarded you the same email again so it should be literally at the top of your inbox. ... Read more
The money has finally been received this morning, two days before we were eligible to make a formal complaint with the ATO. There is no need for a follow up - we will be closing the account and moving forward with one of your competitors. Thanks RossSimilar opinion? Write a review on ProductReview.com.au!
Reasonable Fair
I compared funds and I found this to be the one that invests in the objectives that I bereave in. When you consider the Unethical Criminal Behaviour of the Banking $money lending Usury oligarchs and the Speculation Looting that has been endemic since the inception of the federal reserve and in the 1940`s the international (Murder)monetary fund world bank world trade organisation and even the Criminality of the political powers in Australia which is Still Subservient to a Theocracy britain(Usurping killingdom)u.k.
there is a lot of Work to be done in easing the sting of Poverty and Stopping Further Environmental Destruction That`s Why I Am Glad that My Super funds can Help in this Quest.
1 comment
This should be foremost in our concerns
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Rowyn
- 3 reviews
- 1 like
So good! So far!
So easy to access online portal, the staff are lovely -Australian's also.
I can see my super increase on the screen.
1 comment
John B.Future Super
Thanks for the review Rowyn! Glad to hear you are happy with Future Super. We'd love to know if there is anything we can improve on and feel free to get in touch if there's anything we can help you with! Cheers, Freya
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Green options
Great incentive to stay with this Super fund. Lets hope that their fees get competitive too as well as a green focus on investments
1 comment
John B.Future Super
Hey Phillip! Great to hear you are enjoying investing green. Thanks for taking the time to leave us a review - we'd love to hear how we can do even better! Thanks, Freya
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- Verified customer
Progress in action
Great ethics across the board.
I trust that they are doing what I want with my money and there's no dodgy deals going on in industries I dislike.
The right balance of communication is had with customers.
As someone who is from abroad (and not understanding Supers) maybe a bit more segmenting of info to know who might need 'coaching' through options of what you should/could look at putting away each pay cheque.
Overall, a refreshingly 'right on' progressive organisation.
1 comment
John B.Future Super
Loz, thanks so much for taking the time to leave us a review! That's some really good feedback. I have passed this onto our digital team to have a look at ways we can get the right information out to ... Read more
our international members. Thanks again for the great review and feel free to get in touch if there is anything we can help you with. Thanks, FreyaSimilar opinion? Write a review on ProductReview.com.au!
Can't fix a subscription issue in 3 weeks...
I was happy to think that I will start to build my super on non-fossil energy...
But during my online subscription process a " technical glitch" like they said... happened..
So they still called me and emailed to pu my super on my brand new non-accessible account...
but no contacts or workaround regarding my portal access...
I can't trust a a young start up company which can not manage IT issues and have so poor Customer relationship..
For me it is a no go.
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Hugely misleading advertising of returns
I found Future Super being misleading by posting out of date return information by quoting returns for 2 years to Sept 2016 claiming they were the number 1 balanced option. They neglected to mention that their more recent returns have been relatively poor. Their 3 year return to 30 September 2017 was 5.5% pa. The AVERAGE balanced fund return was 7.44% over the same period according to SuperRatings.
I queried this, only to have Future Super block me from their page and deleting my post. Have lodged a complaint with ASIC.
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Grayson CGeelong
- Verified customer
Great for a guilt free set and forget retirement.
I signed up to this fund at the beginning as it was the first of it's kind. I liked the idea of a clean super fund and the only fund offering anything similar at the time was quite dated and it's capabilities questionable. Future presented a good modern alternative to the norm that people could rally behind and feel good about.
The fund in the previous years has provided good returns on trend with the market. We haven't had any "bad" years to see how the investment stacks up during defensive years.
The online services is usable however c...Read more
onsidering this fund is relatively new and lacking legacy infrastructure of major funds its offering is quite basic considering there are newer funds (spaceship & grow) with considerably better online offerings that have been delivered in a fraction of the time. The customer service can be inconsistent at times. Normally the staff are very willing to help. However, I had an experience where I was enquiring if the fund was getting default insurance cover and was told it would be available in a few months. I called later in the year to be told in a quite thoughtlessly tone (I guess we went in different direction). It was a bit apparent that the girl had better things to do than talk to me. Only to receive an email in the following weeks saying it was available. Your not a big company if your staff don't know what's happening in your business the appeal for me starts to wear off. I would also point out that communications from future is kept to a bare minimum (annual reports, fund changes) apart from the occasional email about the current crusade. This is probably perfect for the majority of regular Australians who don't care about there super. But your customers do care otherwise we would all be in default funds. I would like to hear more frequently about the months performance, new entrants to the portfolio, good deeds & general things the company is working on. Provides a sense of being part of the fund and helps me know you are constant improving. Overall one of the better funds around but there is definitely room of improvement around your online and offline customer experience.1 comment
John B.Future Super
Hi Grayson! Wow, thanks so much such detailed review. Firstly, I'm really glad you are happy investing in a fossil free future. We are proud to have the most rigorous ethical screens in the industry.
... Read more
I'm sorry to hear that you aren't completely satisfied with Future Super. I also apologise for the miscommunication regarding our default insurance. Just to confirm, we do now offer default insurance for death only and death and TPD. We are working hard to refine our processes and products to offer an experience that is smooth for our members. We had a dedicated technology team who are also working to improve every aspect of our online platform. We would love to hear specific feedback about the areas of our online service that you feel could be improved. You can contact us at info@myfuturesuper.com.au or on 1300 658 422. In terms of our regular communication, it is definitely a topic of discussion for us here at Future Super. We want to find a balance between keeping our members informed and involved with the fund, while not filling up their inbox. It is a very good point where you mention our active membership base. We are looking at perhaps monthly or quarterly account/fund newsletters. Do you think this would be something you are interested in seeing more of? Thanks again for taking the time to provide such helpful feedback. I'm glad that overall you are satisfied with the fund but your feedback will really help us to do better. Please don't hesitate to get in touch if there is anything we can do to help. Thanks, FreyaSimilar opinion? Write a review on ProductReview.com.au!
Clean Air,Clean Water, Clean Energy.
Lets get rid of the Fossils in Canberra , bring on the forward thinking New Blood and lets get down to Business
Bring on : THE RENEWABLES. :
1 comment
John B.Future Super
Woohoo! We completely agree Malla. Thanks for being apart of the movement to a cleaner more sustainable future. Thanks, Freya
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Questions & Answers
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
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 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.
Would it be better and perhaps quicker if I phoned you??
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.asked
How much do your annual fees equate to.
2 answers
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
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.
Details
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Future SuperFuture Super
Hi Ross,
Our Member Advocacy team have tried to follow this up for you, but as we don't have your account details they weren't able to do so. Could you please email us at info@myfuturesuper.com.au in reference to this ProductReview? Thank you.