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ING Living Super

ING Living Super

1.7 from 46 reviews

See the Best Retail Funds in 2019 as rated by Australians on ProductReview.com.au.

Reviews

Review distribution

5 star
1
4 star
4
3 star
5
2 star
7
1 star
29

Harry

HarryMetropolitan Adelaide, SA

  • 3 reviews
  • Verified customer

Ing super

published

Hi i rolled my twu super over to ing super and in just 5-6yrs my super has increased 5-6% after fees and contributions taken out i also manage 35 % asx shares in my portfolio i agree with other reviews about there fees but on over 200000 im happy

Transparency
Customer Service
Insurance Options

Yval

YvalPalmeston

  • 9 reviews

good customer service

published
Transparency
Customer Service
Insurance Options
Income Protection
See all answers
Andy

Andy

  • 2 reviews
  • 1 like

The only option i found to let you trade your shares yourself

published

I chose ING because I can trade ASX shares myself which most funds don't offer. The fees are $20 per trade, $60 per year plus 0.64% of the account balance each year held in shares. It is the percentage of the account balance that kills it so i'll have to leave once my balance grows a bit. I'm giving them a reasonable score because they offer something their competitors don't.

Insurance Options
dickyt

dickytMetropolitan Adelaide, SA

  • 3 reviews
  • 9 likes

Fees!

published

Suddenly started charging fees on every part of the super fund, with no returns. Charged for each part of the fund! Lost a huge amount! Do not go with these thieves!

Customer Service
Insurance Options
Income Protection

Jimmey3

Jimmey3Murrumbidgee Region, NSW

Unfair fees

published

Most funds the same and unfair, when you suddenly don't have a job or very little eork the fees still eat up your fund. If you put in the fee amount each month it dosnt cover it becouse it only adds to your amount to increase the fee

Customer Service

Josh

JoshAdelaide

ING LIving Super.... going, going ... gone

published

A few years ago ING Living Super was a great fund... in a short amount of time the Australian managers of this excellent international company have tried there best to turn this into a super fund that resembles the dodgy Australian retail super funds... Fees have skyrocketed, service (while friendly - is robotic, and at times ignorant). Products have not kept pace with the market.


ING is the worst

published

The service and support they give is the worst I've ever experienced. They are polite but not helpful at all. The admin stuff takes 1 to 2 months for them to do and they have no option to make it faster. I will close my account with them ASAP.


MissJane

MissJaneAustralia

Investment Redemption

published

Cant complain.

published

All these bad reviews to do with fees, have look on canstar they still compete with other low cost super funds.

My balance has grown 30k in 2 years since joining so even though the fees have gone up my balance has almost doubled! I transferred 40k after loosing a heap from another fund.

All in all cannot complain with that.

Incorrect correspondence

published

I received an email from ING informing me I may be able to claim a tax deduction for personal super contributions I made in the 2017/18 financial year except I didn't make any personal contributions, only employer contributions. When I phoned ING to find out what the email was about they said they just sent that email to everyone because they now have he ability to provide a notice of intention to claim a tax deduction online instead of completing a form. So even though ING now charge fees where previously there was no fees, they now don't have the ability to determine who has make personal contributions and who has made employer contributions. I think its time to find a new super.


No Problems... What's the fuss.

published

I've had Industry & Retail Super in the past. ING allows me to access my super anytime.
All Funds charge fees but I can trade shares, change my investment strategy and invest in term deposits as well & the fees are very reasonable compared to the other Funds.
Please people do your homework..... if you don't want life cover etc. ING allows you to cancel insurances online.
No more premiums.


SEM

SEMMELBOURNE

  • 7 reviews
  • 4 likes

Sorry ING we've moved on

published

I put my children on ING Living Super,where they remained for years,but sadly decided to roll out to an industry fund after ING introduced steep fees. I understand that they needed to introduce some fees,but not to this extend.


Brendan T

Brendan TMelbourne

MONEY GRABBING

published

I signed up a few years ago, when ING purported to be low fee. Was not made aware that they automatically sign up for "insurance", then they change the fee structure. I feel the way they inform people of significant changes needs to change. Basically I have put more into the account than it is now worth. Not a good investment over a 3 year period, particularly when shares have risen substantially


qqqzz

qqqzzAustralia

  • 2 reviews
  • Verified customer

Fees charged more than profits

published

When I transferred to ING, there was no admin fees. Then ING changed to charged more fees than profits. really terrible.

Pdubes

PdubesGreater Melbourne (Inner), VIC

  • 2 reviews
  • Verified customer

Withheld some money from the rollover!

published

Not even worthy of a single star

published

Simply put, ING do nothing but consistently deplete the value of my super fund. They charge fees vastly in excess of what they make on your fund and involuntarily signed me up for insurance, which impacted my balance significantly. I did not pay these excessive fees when signing up, they just added them on as they felt like it, and didn't even send an email regarding the changes.

Terrible fund, deceptive in the way they display your returns and investment balances and should be ignored.


Grogg

GroggSydney

  • 28 reviews
  • 33 likes

Absolute rip off

published

I signed up for the living super account when it was completely fee free. I was very happy with it, but the introduction of fees has ruined the value and depleted my account rapidly. It seems like ING advertise all these offers only to take them away in the future. I feel deceived and ripped off and would never recommend this account.


JT

JTMelbourne

  • 8 reviews
  • 4 likes

Bait and Switch Is The Problem, Not Fees In General

published

The facts:
Fees on super will always exist because this government mandated saving scheme attracts those wanting a piece of the pie.
ING advertised a capped, low fee, direct share trading superannuation product.
ING hiked the fees shortly thereafter.

Moving my super to another provider will now trigger CGT but I'm doing it anyway. It'll cost me now but it will cost me more in the long run if I stay.

This product went from great to an expensive pain. I'm going to look for a company that hasn't changed their fee structure shortly after gaining customers.


Nobody addressing anything other than fees

published

Fees are fees. We can't do jack about it but vote with our wallets, and the banking industry is always going to gouge us as much as legally possible. Complaining about the fees is nonsense, seeing as there's very little you can do about it.

Service is very intuitive and easy to use/setup, offers good options for investments also.


Carmen.D

Carmen.DMelbourne

  • 3 reviews
  • 1 like

Can live without admin fees and charges

published

Since the introduction of admin fees and charges on pension Cash Hub and low term deposit returns ING have left me no choice but to opt out of their living Super as the charges are eating away at what little l am earning and of which can be managed on the spot by myself.

Bad move on ING introducing such nonsense and unreasonable fees on Cash Accounts !


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Questions & Answers

Brad

Bradasked

Why is ING super going down so rapidly?
I've lost 40% more than what I lost in the GFC.

No answers

garry

garryasked

Which is the best super company?

No answers

K.B.

K.B.asked

I have an SMSF. If I rolled that into ING Living Super who does the annual tax return and is that paid for by ING?

2 answers
J.Jenkinson
J.Jenkinson

ING isn't a true SMSF - so there is no need for them to file an individual tax return. The options you have to invest in are ASX300 shares and some exchange traded funds, but there are some rules about limits in each equity. Hope that helps.

K.B.
K.B.

Thanks for that answer. Though still a bit confused. If I move my money (which at the moment is in cash) into Living Super, would I avoid paying out Audit fees and Accountant Fees??


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