Still haven't received spouses death benefit
Still haven't received spouses death benefit. Every time I try to contact case manager there busy.ask to be contacted back calls are never returned. Absolutely disgusting to be treated like this at such a difficult time of losing your spouse
Dodgy super company
My daughter was a member of this fund whilst in casual employment They automatically take out income protection and insurance fees. We had to complete a form for these fees to cease. When all the money is exhausted they close the account and reopen a new one and once again start taking out fees again. They did this 3 times. Trying to contact them is almost impossible. Avoid this company
Poor experience, high fees, would not recommend
This business doesn't work for it's members it is all profit. They have very high fees and poor communication. When I have queried their monthly fees and wanted to complain, I was told during 'investigations' into my complaint fees could be waived, as I said I might as well close the account now and then lodge a complaint. Then Media Super changed their mind "because, legislatively, they could" after taking more fees for three months whilst they took maximum time to "investigate" my complaint. For a small value account of a few hundred dollars ...to leave I need to pay a $60 fee. Plus I have lost over 6 months in additional fees for their 3 month 'investigation' and now an 'AFCA' process of at least three months. In the end Media Super will keep approximately 2/3 of the amount of money deposited with the account keeper (who is well above preservation age) getting only 1/3. Not recommended, steer clear.
Casual Workers NOT Covered by Media Super Death & TPD Insurance
Warning to all media super insurance policy holders. You will NOT be covered for Death & TPD claims if you work in "industries with high level of seasonal or casual workforce". This advice comes directly from Media Super. You will also not be covered if you work in an "excluded" occupation. Media Super has advised they cannot provide a FULL list of excluded occupations. Therefore in the event of a claim, the underwriters Mercer can reject your claim by saying you are working in an excluded occupation at their SOLE DISCRETION. I advise all membe...rs currently paying insurance premiums to urgently review their insurance policies & go to other reputable companies who cover employees working in casual/seasonal industries & who can provide a full list of exclusions in advance. Media Super members should also question why their fund does not cover their members - many of whom work in an increasingly casualised workforce.
Better than any Retail Fund
I rolled over from a Retail Fund that treated my money like a trip to the casino and produced negative returns three years in a row and average returns for the next three. Two years after rolling over the Retail Fund still has some of my money in 'suspended accounts' pending sales in 'manageable parcels'. At MediaSuper I can contact someone that I can actually talk to and get some sensible answers. I recommend you check if this Fund is right for you.
I have been employed for over 40 years and never encountered a more incompetent company than this. They are great at taking your money and charging fees but just wait until you want to withdraw your money. Try another fund to avoid disappointment or self manage your superannuation. You earned the money, not them.
This is a sole industry fund but it is not too bad when compared to others out there. The fees are reasonable and it does do the job that you want. I have found that other super funds do have a much bigger selection of investments that you can choose but this fund has enough to make it worthwhile and to ensure you are getting the best you can out of super.
It has reasonable and competitive prices that rival many other similar super funds. Has a good selection of investment choices to choose from. An easy to use and navigate website.
As a former Just Super customer whose money was rolled into Media Super when Just and Print Super merged, I had high hopes for Media Super. Fees wise, it has proved to be more than competitive, and with insurance even more so, but I miss the investment choice options I previously had, as well as much better website functionality.
As an industry fund, it is very competitive on fees, and also has an excellent insurance scheme.
The investment choice is not as wide as with the two funds whose amalgamation formed Media Super. The website has taken too long to become fully functional.
Questions & Answers
My account was at $517.45 on 27/5/19 and by 2/1/20 I had $11.65 left. This disgusting superfund helped themselves (without my consent) to my account and deducted ‘Income Protection Premium’ fees at $68.69/mth. I called them to refund the fees I did not sign for amd all they could say was it’s a default in the system and can’t be reversed.
They should be exposed to the current affairs show ‘ACA’.
Stay clear or them and roll you accounts into a safer Super account!
Hi, Sorry to hear of your experience with Media Super - mine was no better. My father had an account opened for him without his knowledge, he is of preservation age so didn't need one. A year later we found most of the money was gone in an account he didn't know he had. I applied to AFCA and they liaised with Media Super on our behalf, we didn't get all the money back but a fair bit of it. I suggest you lodge a complaint with AFCA, they were professional and helpful. Here is the link.... https://www.afca.org.au/make-a-complaint/superannuation/
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