Never received notification from Guild that an account had been opened. Only much later did I receive a pin code for the acct but no membership number. In that time fees and insurance premiums had emptied my account without my knowledge. I wonder if that is Guild Super's strategy?
Dubious insurance policies
I have been a member of Guild Super for 20 years.
In 2012 without our knowledge or approval Income Protection Insurance was added to this fund ( despite the fact that I was not employed )
This can't be claimed as I can't supply any proof of income unless I am employed.
I feel that charging for a product that was not asked for and can't be supplied,is either theft or fraud.
In the first 15 years the premiums were between $64 and $94 in the last 5 years between $94 and $998
The complaint process is loaded in their favour, your can't contest their decision, going to the Superannuation Tribunal as suggested by them takes 1 to 2 years.
To protect the fund balance caused by these time delays I have canceled these insurance policies and lost the death benefits ( the only reason I kept the fund running ).
Swapping between annual statements and 6 monthly Benefit Statements, not sending statements every year,using the phrase we sent you a letter and not itemising the insurance premium costs are some of the confusing processes.
The last insurance fees on the statement were more than $200 over what I was quoted for the same cover on 28/5/18.
I believe that the processes,and rules of this company are at least morally wrong and possibly illegal
Guild super ( metlife) Income protection suppose to help not cause stress
I was offered Guild super as I worked in a pharmacy and though it must be good as the name suggests.
After 7 years and a major work accident where I fractured my back I made inquiries about income protection, at that time I wasn't eligible as receiving work cover payments when these stopped 8 months later I put in my claim and came up against walls, nothing was easy, at first I was told my monthly payments would be $600 (a joke right) after much stress and two complaints it was finally increased to the right amount, more than three times the amount they had tried to fob me off with, but it didn't go into my bank, apparently a "glitch" due to the new year, yes that's right it took nearly one year from inquiring to being paid, then after 10 months of payments I was told I had received too much for the year and I had to produce my work cover payment history before they would re-instate them, despite my customer contact telling me she had my work cover file, then they moved the rules and said unless I wrote a letter confirming I would pay back all my payments if I came into any money or settlement. Something that is put in place to help in times of hardship and stress shouldn't have to be this hard and people should be aware of this. Metlife is the trustee and needless to say read their reviews which are terrible, if you have any sense go with another super as this is a monkey fund.
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