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ING Living Super

ING Living Super (page 2 of 3)

1.7 from 46 reviews

See the Best Retail Superannuation 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

Lizzie H

Lizzie HSydney

  • 2 reviews
  • 2 likes

Jacked up the fees but not the functionality

published

ING SUCK BIG TIME

published

2 weeks locked up while ING do admin! June & July 2017. Pathetic.
Will close my account asap with them. This indicates how archaic their systems must be.
As mentioned if the market heads South, we are all snookered.

Abelard

AbelardCanberra

Pension accounts locked from today

published

No share trading for nearly two weeks, ING Living Super Pension funds have been locked from today until 6th July. Is this ethical behaviour. What happens if there is a Stockmarket crash? Well, I for one will be suing them.

Elle

ElleMelbourne

Bait offer scam

published

I was also caught out by the ING Living super scam. Advertised with the cheapest super fees a few years ago, they then slowly increased them over the years. Then recently, they announce massive fee increase starting June 2017.
After 3 years with them, my fees increased massively 350%. Never again will I trust a corporate company. I have since switched to an industry fund who server their members - not shareholders and directors.


Paul

PaulPerth

  • 2 reviews
  • 7 likes

Massive fees in Super account

published

Opened a super account that needed a seperate account with a minimum of $500 in it. They then starting taking out Life Insurance from that account without telling me ($35 a month) which then brought the balance down below the $500. To which they then topped it up to $500 again out of my super account but charged me a fee of $40 each time they did it and called it an "Investment Redemption Confirmation" fee. So $35 for life insurance and $40 for the transfer fee each time.

Nice work ING.


Unethical

published

ING offered a super option with low fees (albeit low returns) for a number of years that suited my needs. All of a sudden they are increasing fees. I will now be looking to change funds, which is a massive hassle.


nahdoo

nahdoo

  • 34 reviews
  • 26 likes

High Fees Appalling

published

By charging fees after four years with no fees is unethical and very disappointed they have taken this stance. Their service is excellent and staff always help but other funds are not easy to deal to transfe.


Makaveli

MakaveliSouth East Queensland, QLD

  • 8 reviews
  • 4 likes

Terrible High Fee - Rip off Super

published

They are jacking up fees on June 2017. They leech you, suck your money in fees. Used to be low fees but they changed it.

Also was being charged Life cover with being inform when i sign up. I cancel life cover.

I'm now going to leave ING & am looking for low cost Super.

Hate ING Super & ING. Treat customer so poorly, customer will leave you.

ling

lingSydney, NSW

  • 26 reviews
  • 37 likes

Massive Fee Increases Coming Soon

published

Starting on the 1st. of June 2017 there are new fees coming in and they will most likely affect all members. Please search for Significant Event Notices and Product Updates 21 April 2017 - Significant Event Notice.

My fees will go up dramatically and I have taken action to remove some of my money from ING Living Super. You should all check to see what you will be paying in fees and make your own decisions.

These new fees have upset me a lot and I may terminate my account completely soon. Be warned everyone, maybe it's time to look at an Industry Fund where fees might be lower.

mikema

mikema

  • 33 reviews
  • 32 likes

Do not use ING Super - As bad as the worst

published

ING lure you and then jump the fees

published

Massive Fee Rise a Rip Off For Large Account Holders

published

Alex S

Alex SGreater Melbourne (Inner), VIC

  • 8 reviews
  • 11 likes

Bait advertisement then massive fee hike - should get their credit ratings downgraded and superannua

published

Absolute scum - massive fee price rise once they got people lured and locked into their investments.

Essentially they defaulted on their contract with me (0$ fee term deposit maturing in Jan 2018), should get their credit ratings downgraded and superannuation license revoked

New fee structure coming into effect 1/7/17 will increase my fees from 0$ to 1000$, reported this dishonest business practice to ACCC and FOS. Avoid like the plague!


Tim

TimMelbourne

  • 2 reviews

Bait and switch

published

Offering a set fee of $300 then changing it to a percentage fee has tripled my super fees. I had invested in etfs so to get out I'm getting hit with CGT as well as brokerage.

ING are either incompetent or dishonest - which one is it, ING CEO?

Gone from $300 -> over $5000 in fees p/a !

published

ING fees for Direct Share management went from $180 to $300 to now .64% of portfolio.
For large balances, i.e. If you are near retirement, this really hurts.
Used to be good as provided a half way house between managed funds and SMSFs that allowed you to select up to 80% of your portfolio in shares at a reasonable price.

Rolling over to SMSF.

Absolute scum - massive fee price rise

published

New fee structure coming into effect 1/7/17 will increase my fees over 600%. Was a great product until this. Now I'm angry and frustrated by the appalling conduct of ING. Avoid like the plague.


zircosil

zircosilGeraldton, Western Australia

  • 43 reviews
  • 27 likes

Going from Hero to Zero

published

ING released an innovative superannuation fund that one could invest in with very low fees, or, pick a portfolio of investments from their fund options. ING also had a relatively good share trading platform where a person could invest in a number of shares or ETF/LIC's.
This all changed in the release of a significant event notice on the 21st of March, 2017. ING's product is now expensive, and if ones superannuation balance is greater than ~$150,000 and they are holding shares it is more cost effective to run a self managed super fund. ING can't be trusted not to increase fees again in the future.
In short, ING have turned a great product into something that is garbage.


James W

James WKiama

  • 2 reviews
  • 2 likes

Used to be good, now major additional fees

published

I switched to ING Living super a few months ago because of their low fees, but now I've just been informed of a huge increase. No longer a low-cost option - now they're just as bad as everyone else! Also they automatically signed me up for unwanted life insurance, but this was simple enough to cancel.


Ozgaza

OzgazaSydney

  • 8 reviews
  • 19 likes

ING.Keeping you informed.!

published
2 comments
Ozgaza
Ozgaza
Ozgaza
Ozgaza

Huge fee increase - not low cost and now stuck with costs to move

published

Page 2 of 3

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??


Get an answer from our members and ING DIRECT representatives

Details

CategoryRetail Superannuation Funds

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