Website performance is as abysmal as their fund performance. Avoid at all costs!
I've been with Plum for over 8 years, chiefly for the employer-subsidised life and TPD insurances. I just left the minimum $5,000 and would roll-over additional funds every 6 months into my personal Netwealth Super Wrap product. Netwealth is far more cheaper, and I get to buy directly Australian and International shares. Plum's website is one of the worst I have ever encountered, assuming one can log in. It takes forever. The performance of their funds reflects this also. The only way to make any money with Plum is to keep it in one of their bond funds. Costs are relatively astronomical. To be avoided.
Disgraceful service - they hold your money!
Rang 3 times after being verified (Thurs) and told that my money would be released. Now surely with the New Payments Platform they could send to my account on the Thursday once verified after all they're owned by NAB. 4th phone call and now they say it's in the queue on Monday and may take another 72hrs!!!. Why so long? Why not informed accurately the first 3 times? It's not your money PLUM it's mine!!! Making short term interest off my money once I've requested it should be outlawed!! Plum and NAB - Disgraceful and incompetent.
Thieving Mongrels - Take from the poor, give to the rich!!
I commenced employment with my new company in August 2018 and as this was my companies chosen super fund I decided to roll all my super from previous fund over to Plum. Worst mistake I made.
In January of this year I decided to do a health check on how my fund was tracking. As my company matched what ever extra contributions I was making, I expected to see at least 10K in contributions. Shock horror I actually went into the red, my balance went backwards. I rang Plum to see if there might've been a mistake, but Plum assured me there wasn't any mistakes, but their returns were performing poorly.
How does our government keep allowing these companies to lose or take our money like the way that they do, it's highway robbery, just legal.
Please about Plum at all cost.
I wish I had read the below reviews before I had invested my hard earned dollars in this mongrel company Plum.
Susan and Paul
Absolutely deplorable customer service
Regrettably I have been with this company for over 20 years. Service is deplorable so far I have waited 1 month to receive my entitlement on retirement due to inept process and procedure. You are just a number with this organisation, there is no personal customer service - every email is automated and just says the same thing over and over again. I have to constantly ring to find out what is going on with my claim. Don't go there, or get out while you can.
The most incompotent company you can possibly deal with
Incompetent and uncooperative.
I have made numerous complaints but nothing is ever done.
Every single interaction I have had with Plum has been a disaster.
Do not join Plum and if you have your money with them get it out now before its too late.
This was my companies nominated super, I wish I had never gone with them. They had very poor returns, I hate to think how many extra years I will have to work thanks to them providing such a bad performance. Please do your research and select a better fund.
Could not organise a sh# in a toilet!
Hopeless and slow service, PATHETIC returns. There should be a class action lawsuit on how these guys invest/embezzle customers retirement funds. Proper RUBBISH!!
Web side is misleading to Customers. Information is delayed. Processing of orders is badly delayed. Staff is polite, but gave me incorrect information in 75% of my queries - seems Plumb's information misleads the staff as well. Staff knows about the issue and, so it seems, leaders. The later denies all. Overall impression- company seats on their backsides doing what they like best: after all they've got your money. Avoid
Rubbish!!! zero rate!!! never go there
Rubbish!!! zero rate!!! never go there, they useless. Can not withdraw 100 dollars for four months and close the F***** account
My wife wants to roll over her balance with Plum into an SMSF. And three times, so far, have the send a letter saying that a signature was missing or that no identification (certified copy of driver's license) was supplied.
We scanned all forms each time and we have proof: their assertions are incorrect.
And three times they did not return my wife's application form. They send a new blank form. She had to start from scratch, including getting another copy of her driver's license certified. They are just being recalcitrant and difficult.
Also, their reply arrives two days before their deadline, saying that if their demands are not met they will assume wife wife does not want to proceed with the roll over...
Plum do not want to part with other people's money...
RUBBISH! If I could give it ZERO stars I WOULD!!
I have had only negative returns since July 2015. I have contributed over $17,000 since that period and my balance is only just over $10000 more. So overall growth has been MINUS 5%!!! $7000 DOWN!!
I am LEAVING this fund and I will NOT be recommending this fund to ANYONE I know.
Payout of super death benefit - disgraceful
My sister in law passed away about a year ago and left an 11 year old daughter behind who we now care for. We received all the probate documents and jumped through a few hoops (which we understood) so we could submit a claim for death benefit. However 4 months later we are still no closer to the estate being paid the death benefit and balance of super. How hard can it be? These people have no compassion or empathy at all.
Plum became my ex-companies default fund and the difference was noticeable, lousy returns, lousy service which became even worse when I left the company..negative returns, fees and taxes were eating up my nest egg so I quickly rolled my money over to ING Bank Term deposits and then into their Balanced Fund..no fees no charges and rip-offs. The Super Industry is riddled with Crooks who are feasting on our money and the good returns are going to the rich..a complete scandal.....but Avoid Plum all together.
Consisted in lossing my money
3 years negative returns and love the extra fees as well. Time get money out while I've still got some there.
Bad and mad-a total rip-off
Just been through the wringer via both email and phone with Plum. They are not only among the highest fee charging financial institutions, but totally inflexible. I only wanted to access a small amount of my super and leave the rest. Regardless, they had a flat $75 'exit fee' which I had to pay even though I wasn't exiting. When I pointed out that they would make this ten times over with the amount of ongoing admin and management fees if I left the majority of my investment in the fund, they still insisted on the charge. Needless to say I am now withdrawing my total amount of Super and going to a more realistic industry super fund. Moral of the story..do not consider Plum for your Super-you will be ripped off.
Very poor fund
I left a company that payed into plum to another company that also payed into plum!
That's were the fun began I had to transfer my insurance first then transfer my super too the second fund other wise I'd lose $500.000 insurance cover
Plum transferred the insurance but didn't change over my super!!!!! 12 months later $1700 in fees because of their incompetence.
When I asked for that money to be refunded into my account I was told NO it's my fault because I didn't check.
Without Prejudice they are thieves.
Anyone with plum or thinking of going with plum need there head red.............
worst company in the world
Trying to make a claim TPD with this company is just impossible all they do is set up a call centre so you cant actually talk to anyone except some fool on the end of a line that should be selling phone plans not dealing with the rest of your future. They are single headedly ruining my life to the point I will have to sell my house, the delay in the claim is by no means my illness or illegibility for TPD as I am dying but the delay is due to there complete incompetence and internal structures. Complete lack of empathy or evening understanding for there members well being they just couldn't care less.
Worst customer service
I left NAB and called up for my new super details - as they have the wrong address they won't give me any infomration. I could give them my TFN, DOB, EMAIL ADDRESS but not good enough. Ans Sean from Plum was nice enough to tell me my only option was to leave and transfer my funds out.... Good work plum!....
Worst decision made
I changed jobs and remained in Plum super as it was easy. I wish I didn't, I have not even made back inflationary costs since I have had an account with them. I am in the process of changing funds and they do not make it easy. Do not settle for this level of service or returns. An expensive mistake
I am in the process of negotiating a redundancy and have been trying all morning to access the website. It simply will not load. This is not an uncommon occurrence and it is usually shut down for a day or two every weekend. I know this has little to do with funds management but it is not a good look. I wont miss Plum if I do leave work and take my funds elsewhere.
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