IOOF

IOOF

IOOF
1.3

47 reviews

PositivevsNegative
6% · 344 · 94%

Transparency
1.3
Customer Service
1.3
Insurance Options
1.2
Income Protection
1.1
Rates and Fees
1.2
Brand Manager for IOOF? Claim your listing.

Reviews

47 reviews
Suz
SuzHunter Region, NSW
 

Distribution of funds on deceased estate

Very unprofessional,when my mother passed away she had moneys in ioof firstly they sent funds to all family members without taking tax out , so everyone had to then send moneys back to be corrected and be redistributed,a lot of stuffing around at a sensitive time in our lives , then we were told for our troubles each beneficiary would receive a gift basket from ioof , the gift basket’s all four of them must have got lost in the mail . Your really just a number terrible service ioof .
Transparency
Customer Service
Stephen G.
Stephen G.South East Queensland, QLD3 posts
 
Transparency
Customer Service
Insurance Options
Income Protection
Rates and Fees
Jen
JenSouth East Queensland, QLD2 posts
 

Failed us terribly

We thought by putting our hard earned money with professional financial advisors they would make our money work for a safe future. However we would have done a better job ourselves by burying it in the backyard. They pay themselves for doing nothing for you, how they are in business is beyond belief. My return over 3.5 years is negative. -3.2% this was in a conservative fund. Don’t use this incompetent company.
Transparency
Customer Service
Rates and Fees
Ja S.
Ja S.11 posts
 

IOOF Personal Super

Terrible super group. Their fees and charges are absolutely ridiculous. Pull out your Superannuation from IOOF immediately.
Insurance Options
Income Protection
mylestom
mylestomMid North Coast, NSW5 posts
 

Over 10days to access our funds for withdrawal meanwhile we are losing money in the thousands plus on most days

Unsatisfied as 10 days for funds to be transferred back into my account when it only took and instant transfer for my funds to appear in IOOF. Seems a one way street. Not answering phone from Financial Adviser or myself. Would have expected a better service, but if this is their benchmark to customers I could not recommend them
Transparency
Customer Service
Rates and Fees
Wombat
WombatHobart, TAS8 posts
 

Made a processing error and won't pay me interest

I had a 10 year bond with them - they stuffed up my redemption form and only fixed it up when I called them. If I had not noticed, I would have had a huge tax bill. Then they held onto my money for a week and would not pay interest. They claimed it needed processing time, yet it was already in cash. So they basically stole $100s of dollars from me. Don't invest with them.
leeanndalais2
leeanndalais22 posts
  Verified

After 7years of working I fell sick and had been paying a homeloan 17years. It took 6months to get approval in 2013

They started off as AMP Life insurance 2001 then 2004-2005 they changed name ING-INTEGRA. 2008 they changed there name again to ONEPATH Life insurance.

I am very dis satisfied my home was an investment property and instead of the $200,000 income protection that would have helped me keep my home. I received a new trustee that somehow took over my superfund and the bank applied $100,000 of enforcement fees to my loan and forced me out homeless on the street with nothing but my Chiuahuaha and bag of clothes!

leeanndalais2
leeanndalais2  
More
MONIKA
MONIKA
 

Worst superannuation provider

Unhelpful. Rude. Contradictory.
I wish super was more regulated so I could report them but no one cares.
I have asked for help but was met with templates that answered nothing and lies to follow.
Paul
PaulGreater Melbourne (Inner), VIC3 posts
 

Move Away from this Fund today !!

This is the worst super fund ever, they have made many mistakes with my super, I send an email and never reply me back with a proper answer. I have decided to move my fund away and they have charged me so much fees and including investment losses. Please do not join this fund and the performance was worse than many other funds.
Online Customer
Online Customer13 posts
 

I wont trust my life saving in their hands

Very high fees and costs - which are not explained - slowly eating away your super savings. No responses to my enquiries. Not professional. I don't know how such companies are allowed to operate?!
Pietra
PietraPerth4 posts
 

Screw you IOOF

Have been a member since 2009. After Covid and a divorce, was in severe financial hardship. IOOF would not let me withdraw any of MY money that I EARNED and WORKED FOR. I’m in the process of changing to a different fund. Useless and unhelpful.
John Woods
John WoodsSouth East Queensland, QLD23 posts
 

I CANNOT TRUST IOOF TO BE A GOOD SUPER MANAGER

Today I receive a phone call from IOOF and the lady says the $1000 I took out early this year did not come from my account and they took it out of someone's else account.

I am concerned for two reasons. 1. They have sent no written information to say this and obviously want to do a hidden fix over the phone leaving no record. Surely the credible thing to do if it is correct is to put the facts in writing to me?

2. I now doubt IOOF ability to manage money. When you make a withdrawal they do all sorts of ID, so how can they take money out of another's account.

I would put NO stars but it's not allowed, so one will have to do.

John Woods
John Woods  
More

Got worse today as I discovered IOOF gave out my name and details to another member of IOOF in writing without my permission. Have demanded an explanation under APP11 provision.

Phil Matthews
Phil MatthewsSydney, NSW4 posts
 

Incompetent

IOOF earned $1k for me on a $250k fund balance, and charged me $1k in fees for this abysmal return. I get that sort of return from dividends on $25k of shares with no fees. This is worse than a term deposit. What are these "experts" doing?
Jessie L.
Jessie L.Greater Melbourne (Inner), VIC
 

Worst fund in Australia

Terrible service. 1 in 100 staff know what they are doing when you call.
High fees. Look before you join. Fees are as ridiculous as the service.
Got put through to a "manager" who didn't know how to work out 15% tax on my contributions ???? Unbelievable. The place needs to fire all these Muppets and hire some brains.
Psmith
PsmithPerth, WA9 posts
 

BOOF & Super is Gone

Started fund with an exemployer $34K Paid in. Then scammed out of the fund with insurance hikes. Seams if you leave the employer the default is to change your status from white collar to blue collar and when discussed the answer was we do this for all. I requested his be changed and ergo they increased my payment. Now 4yrs later my account was closed due to lack of funds I asked IOOF what was the last yrs insurance costs the answer was $11,000 for life and income protection.
Now this is so wrong and we just keep getting abused by super funds. It will be interesting when all super funds don t perform and the outcome is people living in poverty. TAL your in this scam as well.

Questions & Answers

Glenn Catlin
Glenn Catlin

My brother has super with IOOF , lost his job at 64 , has a 3/4 renovated house and wants to pay it off but IOOF refuse no end to let him access his money till he's 65 next year .. this company has the credibility of a wet sock. #disgusting

John S
John S

My friend has sold his property and is moving into a retirement village. He has $300K to invest and didn’t want his pension to be affected so he was referred to by a family member to a financial consultant which cost him $3K who recommended the money be put into IOOF super fund at a cost of $2K per annum. Should he be investing in IOOF as the consultant suggests? What questions should he be asking the consultant? Hope you can help me. John S.

Phil Matthews
Phil Matthews  

I'm in the middle of changing to another super fund. So enough said

Ian L.
Ian L.  

2K in fees on 300k is .68 % — seems reasonable to me.

Mark.N
Mark.N

I am seeing a financial advisor at the moment to discuss moving my super and planning my retirement in the next few years. I am looking at putting my life savings (including selling my investment property) into a fund to accrue for about 5+ years and to then retire. My advisor suggested IOOF.
Any good reviews would be really appreciated. Tell me horror stories as well.

Greg
Greg  
Paul B.
Paul B.  

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