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MLC

MLC (page 3 of 6)

1.3 from 102 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
2
3 star
5
2 star
5
1 star
88

Pedro F

Pedro FSydney

Solid superannuation fund

published

I rolled my super over to MLC about 15 months ago and I've been very happy with the returns that I've had from the accelerated growth fund in particular. Admittedly it took a bit of time to get the insurance setup because of family health history, but since setting up it's been smooth from there.


  • Verified customer

Current claim for TPD 08/01/18 incident date

published

I want to post my Ongoing claim status... was victim of crime, gunshot through door left forearm surgery ongoing rehab dealing with mental trauma....and more..... 6 months est claim settlement told by mlc???had permanent job can't return due to incident physical and mentally unsure on recovery results... Time frame.???.....policy cover as written from cost payments made .. 270,000
Updates soon as there are any
August 06 2018...... Still on going waiting on hospital results for proof of incident (not confident on 6 month timeframe.... But we see)
More updates as they happen .........

  • Verified customer

Trauma Recovery insurance The peace of mind you don’t have

published
rush

rushSYDNEY

  • 45 reviews

Absolutely avoid this absolute horrendous company

published

Every single time you call them it’s an absolute palavar. You wouldn’t think you could do badly on an index fund but MLC manage to stuff even that up. They employ people who don’t know basics, who make mistakes left right and centre, who double down on their errors, who give you repeated misinformation and drive you absolutely crazy when you question them. You have to drag an apology out of them and it’s a flippant one with excuses and blame of the customer attached to it. It’s an absolute waste of my time and mental health dealing with them - Avoid at all costs.


A fat out rip off !

published

They will not pay out any permanent disability!

19 fractures from an mv accident and while they ripped off about 15 k out of my super to pay for the insurance they not only refused to honour they pretty much laughed in my face!

Love to join a class action !

Regards
Shane


Income Protection

published

Been with MLC for years, then rang about income protection they said they could help me. Been working away for 5 yrs doing same job 7 on 7 off asked if i was full time i said no cant help me with income protection have to be full time time to change


Put your super elsewhere.

published

Dan.K

Dan.KSydney

Stay Away!!!

published

Stay away from this Company. They have robbed my superannuation completely down to $0 which I had with them for two years, and by the looks of it many other people’s. The fees are ridiculous! Most likely gone towards buying MLC managers and CEO’s a new Ferrari.

Squirrel

SquirrelAU

  • 4 reviews

Dont trust anyfinance advisers on MLC

published

I am preserve age MLC finance adviser said I can retire all I have to do is leave my job I left my job that was biggest mistake I have made now they saying you cant retire and I cant access my account I was very sick for days I am not happy I wish I never roll over to MLC they have played with my life I have diabetes no income coming don't trust what ever they say there finance advisers don't care all they care they get paid to do trick you so don't ever leave your job even if you are in preserve age wait till your full retirement age I wish I never roll over to MLC I am not happy they have ruined quality of my life

Unhappy customer

Unhappy customer

  • 2 reviews
  • 9 likes

Unprofessional, unhelpful and rude

published

The rudest people I have ever dealt with. Unprofessional and unhelpful. Moving your super from this fund to another is next to impossible.


MichaelL

MichaelLSouth East Queensland, QLD

  • 3 reviews
  • 4 likes

MLC Income Protection Insurance Not Worth The Premiums

published

giles

gilesIpswich

  • 3 reviews

Went to transfer my super and found it was all gone ???

published

Upon calling to transfer my super I noticed the amount had dwindled down to nothing. When asked why? I was told that when I left my previous company the super defaulted to a disability insurance and that payments had been made monthly from my existing super??? Thankfully I had tracked down this lost super in time to cancel it as they had used all of my super and had only $60 left? Is this legal?


jman

jman

  • 2 reviews
  • 1 like

Take control of your Superannuation and your future

published

Linda

Lindamiranda

  • 7 reviews
  • 23 likes

Won't give any information

published

Decided to change funds, rang to ask simple questions. They wouldn't help and decided i would have to ring other number for help.

Warning Nab And Mlc Are Thieves!!!

published

I have paid them to dwindle away my super!

published

PeterC

PeterCMudgee

  • 3 reviews
  • 2 likes

If I could rate a ZERO I would

published

DO NOT put one cent of your money with MLC. Ever. They should be referred to ASIC or APRA for investigation. Customer service is appalling in that there is none and this isn't a new situation. You can't get an answer to any valid enquiry, you are made to feel stupid when you don't understand their policy in taking your money and rudely talked over or they do not respond to email. I am very disappointed that the NAB has aligned itself with this deceitful, dishonest & immoral company. I wish I had never signed up with the snake oil salesman that got me into this decades ago & now I wish to get out I can find no information on exit fees anywhere online but certainly not in plain sight.


Disgraceful refund process for fees charged in error.

published

After rolling my super into a different fund from MLC last year I received a letter this week informing me that they had charged fees in error and sent a form for me to fill out to either roll it over or withdraw. So that's 2 forms and each was 8 pages long. They should just use the information already to hand about the rollover institution and be done with it, instead they are by stealth trying to dissuade people from retrieving funds by making it very difficult and time consuming. It's disgraceful. One wonders how many people this has affected and how much this is costing MLC to refund. I would have given no stars if I could.


J77

J77Metropolitan Adelaide, SA

  • 18 reviews
  • 25 likes

5 yrs cut off

published

Super is Ripped Off!

published

Once I signed the contract, I only received the list of fees and rates in 2 weeks... Why? I checked what my super was being ripped off on , and mostly on some kind of insurances I have no idea about.. If I need to I will get myself an insurance, in fact I have one, and I did not give permissions on what insurances i wanna be covered by if I have injuries or etc. Those money are not mean to go for any admin or to save their business fees.. Those money are mine to survive on when I have serious problems or when I'm old!!!! What the hell do we hassle for?? so that the super that we earned went on some insurances or admin fees I didn't choose to pay for??? Why Somebody else controls and decides what to do with my money!??? Pathetic!


Page 3 of 6

Questions & Answers

Smithy

Smithyasked

What are your fees on $600.000. and your returns for the last 5 years please

1 answer

-$100,000 and your sanity. These people literally are the devil. Forged documents. Stolen pension annuity and given to my employer. $120,000 annual salary and git 30,000 and a year and half off work. Some income protection if I had kept my member number to myself I would have defaulted to my employer default Fund with MLC!!! At 85%. Royal commission they have not refunded anything, or and to answer your question -1.7% earnings date when I started and charged me $1600 in fees on $4000 in super. Doubled my premiums while Ive been in claim and dont forget the 90 days waiting period and no other benefits...


Pat H.

Pat H.asked

Has anyone had any success claiming back their principle investment with mlc master key super?

No answers

Nick P.

Nick P.asked

Looking to change super funds sick of MLC

1 answer

Sunsuper is pretty good but check your strategy dont stay on the default plan wherever you go. MLC defaults me to year one rates but how can they steal a lifetime annuity from Philip Morris Employees?? I couldnt even update my income even though I was actively at work at time of claim. Oh yah Club Super is awesome but check the industry your in they may have a fund just for your industry, they are the best and if you dont change your policy right away update your income, if they actually process it!!! :( I hope they rot in hell


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