Heartbroken and disillusioned
Was with this fund for about 20 years before retiring and then 5 years or so after. It was okay, and even quite good at times, while things were fairly stable and could be dealt with at a pedestrian pace. But when everything hit the fan and I was extremely anxious to see years of income walk out the door, they gave really poor advice (at one stage suggesting I wait and see and in the next 2 days I lost big time) and then were relatively slow to process my bail-out. What I find most disappointing then is that there was no follow-up, no concern a...s to why I bailed - but then again I am strictly small fry and I've learnt that with so much of modern business, it's only the big boys and girls who matter - we small-fries can basically take it or leave it. Incredibly disillusioned
Avoid this super fund
I would rate LGIA as zero if that was an option. Be aware of misleading and incorrect information from their customer service officers, I have recently taken my complaint to AFCA, who agreed the staff should be better trained, especially when providing specific financial information, which customers base their decisions upon. Be aware their default options are not age or balance based, they are high risk. Check your annual statement carefully, that is where you see all your true fees, not by calling LGIA. I have nothing but bad things to say about this super group.
If I could give zero stars, I would.
I have been trying to access my defined benefit for the past 8 weeks & still waiting. I have rung regularly to ask where it is & getting the proverbial f-around. Now they tell me after pushing that my money will be transferred to a low-risk accumulating account. I told them that I don't want my money sitting in another account, I would like MY MONEY transferred into my account. I then asked if there was a risk with this accumulating account & the customer service person wouldn't answer. It was a simple yes or no answer. I then repeated th...at I would like MY MONEY transferred to my account please only to have him talk over the top of me with no real answers to my questions. My other super company paid within 2 weeks. What a load of crap this company is!!
- Verified customer
Consolidated all my other Super into One account with LGIA.
I have been with them for 23 years. I have had other super accounts with other funds (when you did not have a choice of Super fund), but once the government enabled for people to select your own fund- I consolidated all of my accounts and stayed with LGIA.
I see some people complain about poor returns...
It all comes down to YOUR choice of investments. Your destiny is in your hands! When the GFC hit 13 years ago, I changed investment options and still came out on top even during the GFC. And every year after that.
Their fees are very reasona...ble and once LGIA begun to accept the 'outsiders', my son joined LGIAsuper too. I am sticking with this fund. Can't speak about customer service, as having an online account allows me to do pretty much everything that I need to do.
Worst Super fund around IMO
Worst Super fund around, in my opinion. Slow to process ANYTHING and I would recommend transferring your super balance to ANY other fund. Requires no stars. They send text messages with incorrect time frames amongst other care less behaviour.
let them gamble your money away
Employee has been adding super contributions to my account for 21 years but basically the money in the super account would hardly add up to the total amount of contributions paid. They may make you 15% in one year but then they loose 20% the next year. I would be better off and safer with a 1% compounded term deposit. Lets not talk about all the fees taken out as well. Basically they are just allowed to gamble with your money. What a joke. It even goes down when you lock your money into cash.
I left because
1. I had a fairly straight forward TPG claim and it didn't not go well. It went on forever with all sorts of excuses. The complaints system did not work at all. I did eventually get the required payout because I was consistently persistent. I feel this has left a bad taste in my mouth.
2. Attended the first Annual Members meeting and education for retirees. It was a informative event but I realised how many people at the top of the organisation where new. This is good for the organisation long term but in the short term didn't inspire confidence.
Processing requests are now off shore!?
Requested a payment but got lost in system, so I was told, and expected new payment request to take place but days went by and no action... the call centre let it slip that processing is now done off shore and now I understand why things have been woeful, as never experienced things this bad before. The fact things are now done off shore and outsourced, I am rolling out which might get stuffed up also, fingers crossed.
Continual website failures preventing access to Superannuation Account status
Daily failures of this fund's website over the past few months when attempting to access my account is of great concern. I will likely leave this fund and go elsewhere.
What a cluster.... . Administration support woeful.
New government employee and fund member for nearly 3 years.
Enquired on line to set up on line account access and the like with no reply or follow up.
Three weeks had passed so I tried again via email and then phone call, no follow up or email contact received.
Finally worked it out myself without any support that was requested.
Just goes into a black hole.
Six weeks ago I then decided to roll my other accounts (2) into LGIA to make life a little simpler etc.
Curiosity on my part went to see if the funds have been combined, the money is still siting in the old accounts..?
Poor website with very little attention to detail.
Make it very difficult to change details, i.e. address etc.
I have now moved interstate and have been trying to rollover my super for more than six months and LG Super continue to put ridiculous hurdles in my way. At least I have made a friend out of the local JP as he would be certifying docs. for me on a weekly basis....
Very good performance over the past 6 months with the growth smoothed option, I was expecting to see a large drop with all that has been occurring in the sharemarket, but my account shows a very nice increase over last year.
Low fees, run with the members in mind and one of the leading funds in growth over the last few years
Current balances have not been updated on the website since Novemeber 07
You might find this hard to beoieve, but I cannot fault LGsuper really. I have always received prompt, reliable, above average service from them combined with very good returns and low cost.
Very low fees, really friendly and helpful staff, great returns given other 2007/08 fund returns, online balance system works fine now.
Nothing really, happy ex contributing member
Questions & Answers
Sorry, there are no questions yet.
ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.