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.
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.
- 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.
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.
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
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.
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.
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.
- 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.
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.
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.
- 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...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.
Questions & Answers
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.
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??
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.
How much do your annual fees equate to.
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
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