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IOOF

IOOF

1.4 from 25 reviews

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

Reviews

Review distribution

5 star
2
4 star
0
3 star
0
2 star
1
1 star
22

Do not do it - cant be trusted.

published

They increased my insurance from $2k per year to $15k per year with zero responsibility to make me aware. They charged me that for almost 3 years and its 100% my responsibility.
Oh they also earned a nice commission while charging me this, fees are high - they dont care and cant be trusted. Use someone else. Safe yourself the heartache and cash!

Transparency
Customer Service
Insurance Options
Income Protection
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Mike

Mike

  • 3 reviews
  • 5 likes

I agree with the rest of the disgruntled clients. Don't deal with them :(

published

I was only with them for a short term which ended up costing me just over $20K.
It was my first and only experience with super and "DEFINITELY" my last.
My advice is to do your homework before you contact anyone on what could potentially be a very costly mistake.
BTW, I was paid a bit of "HUSH MONEY" to button me up which proves they mismanaged my money by going against my advice.
My lawyer advised me to fight it as I had a very good case but it was impossible for me at that time as I was going through a very difficult period in my life.

Brody J.

Brody J.Greater Melbourne (Outer), VIC

  • 11 reviews
  • 6 likes

High fees, paying Insurances I didn't know about for years! Bad delayed service, product is a scam.

published
Swan

SwanPerth, WA

DON'T DEAL WITH THIS COMPANY

published

I sent an email on Monday to enquire about talking to a consultant as I hadn't spoken to anyone from this company for 9 years. By Wednesday, no response, so I called. They couldn't find my email. They called back several hours later to say they have received and I'll get a confirmation by Friday that they had received my email. Friday is here and I still haven't received an email, for I don't know what for.
I have just looked on their website for a contact in Perth and no phone numbers, only a street address and PO Box No. Nonsense.

Transparency
Customer Service

Hunney

HunneySouth East Queensland, QLD

  • 2 reviews
  • 3 likes

DO NOT SIGN WITH IOOF or TAL!They take money from your super, to pay insurance that you never authorised or knew about

published
Customer Service
Insurance Options
Income Protection

Certainly not the best

published

I was with Ioof for 15 years,
My balance is now way less than the contributions that have gone in thanks to high fees & extortionate insurance that you are automatically signed up for.
After learning what has happened with Ioof during the royal commission with dishonest directors I finally made the decision to switch.....
Best move ever !.......
Ioof is a retail fund, out to make money for shareholders not its members!!!


IOOF incompetence

published

IOOF bought out the super fund I was with for 30 years and was happy with however ......
IOOF has lost $8000 out of my fund in 4 months - gross mis-management and even greater incompetence. -unbelievable and worrying. Paying admin fees for what - they do absolutely nothing and do not respond to request for information.
I am very concerned about the recent bad press and looking to change funda.


Terrible Super Product

published

I was in this fund for nearly 3 years and made a total return of -2.2%, despite them advertising returns of 8% and 9%. I was forced into this fund by an employer and then moved (without permission) into a different super product when I left that employer. I have just withdrawn my money from this fund and, on top of the huge fees and terrible returns, they have charged me $75 for the pleasure of moving my own money. I would never recommend IOOF to anyone.

Mark L

Mark L

  • 3 reviews
  • 2 likes

Ripped of for years

published

Its my fault for being complacent. I should have left years ago. I am now with AustralianSuper. The cost of my life insurance has reduced by $3,663 per year (Same cover level and with the same underwriter, TAL).

Great customer Servce

published

Besides how much fees and charges they do, i am grateful that i was served by 2 great lady consultants. They were very nice and helpful today.


Super high fees, super scam

published

After joining a casual company offering IOOF super, I did some research and found their fee ridiculous, lucky i cancelled my account rapidly only losing one paycheck to this sinkhole called a super scheme. Get out fast, stay out.


Mario

MarioBrisbane

Customer service

published

7/3/18
Have been trying to get someone from IOOF to call me back
2 telephone calls which I left a message and one email. Nothing. Looks like they done want my business
National Australia Trustees did a crap job in sell this part of the business to them. Will consider my options next time I go for a loan. Will consider other banks apart from Nab. Have been with them for 36 years.
Mario


Thomasm

ThomasmSydney, NSW

  • 2 reviews
  • Verified customer

IOOF have a large options of investment funds

published

I switched to IOOF two years ago and I have been very happy with the fund management. The main feature that I love is the wide variety of investment options. I had a selection of thousands of funds compared to when I was with AMP and I had minimal options. The fees are only justifiable if you have an investment of over 50K in my opinion


Almost transferred husbands superannuation to someone else' account all because of a typo on their e

published
Nevin

NevinMelbourne

  • 10 reviews
  • 6 likes
  • Verified customer

Would have rated 0 stars if there was one

published

Painfully ignorant and arrogant

published

kurtulles

kurtullesPerth

  • 21 reviews
  • 18 likes

Switch from this super as fast as possible

published

Words can't describe how bad this super company is. Been young I never really looked into my super that much. Recently I found out they had opened two super accounts in my name and charging fees for both when I never gave permission to this. What is worst they started to roll over all my super into a high risk super account at about 70% risk? This is a complete joke to do something so silly at during 2016 with stock markets as they are. As soon as I found out I switched all my super out of the account.


berry

berry

  • 2 reviews
  • 3 likes

absolutely poor customers service

published

Honestly ive never known a company to speak so poorly and rude. Really unprofessional. So arrogant. The customer service has been the poorest or poorest, and that is dealing with a number of member with the company.. Ive now changed super company due to the way ive been spoken to. No help or advice. Sorry to say but highly do not recommend.


Not happy brother

published
2 comments

Ended up getting $2000 which was my money from super contributions and that is it ,No tpd payment dispute being 20% disabled.Keep away from this mob and Tal at all costs the last thing they are serious interested in is yr health.


Don't switch your super to them!

published

The amount of times I have changed my address in the system, in writing and over the phone yet I still get letters sent to ALL of my old addresses including my current address (how is that even possible?). It is so difficult to get straight answers from them and when you email they will almost never reply. I changed jobs and have had to follow them up countless times to alter my plan (it's been over four months and still nothing has been altered). I can't believe I trusted them with my super. Please do not switch your super to them. I will be changing very soon!


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