Plum Financial Services

Absolutely aweful superannuation provider , service is nonexistant, returns are pathetic ,completely untrustworthy , if i could give negative stars i would . I think the next course if not satisfied is the Australian Fianancial Complaints Authority. Whatever you do stay away from them.

Rubbish company – Rubbish company. Been with plum just because its work related for 5 years. Its like putting your money in a bank…it barely grow. wasted 5 years

What a scam – Recently, I opted for Plum Super due to work-related reasons. However, I deeply regret making this choice. To my dismay, they imposed an insurance policy upon me without seeking my consent, and my attempts to have it removed have been futile. Despite diligently completing the provided forms, Plum Super insists on retaining the insurance. If you… Read more

wish to undergo a legal financial theft, I suggest opting for Plum Super, or alternatively, heed my warning and steer clear of this company to avoid repeating my mistake.

Top 10 super fund – Chant west just rated Plums MySuper 5th out of all growth funds for the year to 31 December 2022. Looks like they are really making some improvements there so I’m happy.

Very Happy! Low fees…good returns! – Very happy! You can tell the new owners are on the ball! Very glad to have rolled over from my self managed super fund into Plum! 0.03% plan management fee!

No Issues Here – Have been with Plum for 12 years approximately. Have found the rare occasion I have had to call them, they have been most helpful. The website is excellent and easy to use. Found it easy to change my investments to a safe plan during the GFC and maintained capital. Returns have been steady and largely positive. Super generally has few friends, but would regard Plum as a preferred retail fund. Show details

DON’T GO NEAR THEM UNDER ANY CIRCUMSTANCE. - (l NEVER write reviews) – (They do Not even deserve 1 star!) I have been with Sunsuper for over 2 decades, but starting with BHP (with the companies suggestion during employment ), I thought I’d just go with it, thinking they would choose a wise group. I read the reviews once I joined and regretted it from what I read.! Life got busy and a year later, I am finally taking… Read more

the time to make the shift out of there. I’ve gone into the account and had no idea the amount of money they take out per month. It’s pure ROBBERY. I’m Absolutely Devastated. And to remove my money out, I will be charged about $2k. The latest example of this week, was $540 going in from my pay and you get charged “tax on contributions” a few days later of $220 and through my naive state, I was paying insurance, which is $170 straight after that deduction too. Do the math on those figures!! STAY AWAY FROM THEM . I AM DEVASTATED THAT I DIDN’T follow through Immediately after I read the reviews 1 year ago. Really Hard earned money, straight down the sewer, where their shady business resides.

UPDATE: it’s been over a year since I wrote that review. I just got an email to remind me about it. I thought it might help, to share the company I should have stuck with. I already had Sunsuper active from previous jobs, over the years. They are now ART. Australian Retirement Trust. I will forever standby them. I felt like I left a money slaughter house with Plum and stepped onto a tropical beach drinking a heavenly cocktail, in comparison !

Poor service to NAB employee – As a NAB employee I was enrolled in the NAB Group Super Plan which is managed by Plum. I left the industry for approx. 2 years and returned to NAB, attempting to rollover my Super earned in that time back to Plum I was given an intensive set of medical tests I was required to complete in order to qualify for any insurance. No explanation of… Read more

why (sitting next to new employees who were not required to do anything of the sort), no one wanted to have a conversation with me, referring to me refer to emails that were sent (that provided no answers or context). Whilst trying to resolve they were happy to accept my super payments from NAB however.

I refused & moved to another fund.

Rollover denied multiple times! – hi, i am with Plum for more than 2 years. Everything was running normal except when i tried to rollover the money into my SMSF. its almost impossible to rollover. tried with paper payment instruction form, tried with MyGov internet transfer but failed. now trying for the third time by emailing them. the only option left is transfer to another Super fund. Show details

Wish I never joined – I tried to transfer my super after years of poor returns/high fees. They have made me jump through multiple hoops to get my money released asking for all different kinds of documents and they are still holding onto the money now. Save yourself a future headache and avoid plum

Performance fees on an Index fund? – I have been a superannuation Australian shares index fund customer of Plum for a long time. Not for much longer. I, too, received a letter from Plum indicating that they have made some changes. Well they are now charging performance fees on my index fund. This makes no sense at all. They don't have to think about or perform anything. It is a… Read more

mechanistic system. It is completely automatic. My employer gives them money and they buy shares in the index fund on my behalf and they want a performance fee. How ridiculous can you get. I urge you to stay away from this lot.

Dreadful. Run! – Returns are poor and the insurance was expensive,but at least the fees where also huge, so there was no reason not to leave! Service was also very poor when arranging to move funds. Only problem is it took me 10 years to get fed up enough to leave. Avoid or leave. I've been much happier with my new fund.

Appalling Experience and still ongoing after 5 months – Lost my wife in November, still fighting with Plum in order for release of her benefit. She had over 38 years within the banking industry and used this fund as part of her employment including MLC (they have been just as bad). Quick to take peoples money for their Super but so difficult to get it in times such as mine, absolute shocking experience… Read more

and have since written to the AFC Ombudsman. I hope no one else has to experience this added trauma with the loss of a their loved one and all the other matters we have to deal with in such circumstances.

A Sham of a Company !! – I had been with Plum for 13 months when my company moved over to them - over that period they tried to rip me off with over the top Insurance premiums which I sussed out and cancelled within 2 months - on further investigations I have found out I LOST most of my contributions - I would love to know how they invested my money but no Company… Read more

Representative could explain this - all while other Superannuation companies were showing good yields - If you are still with this company please do yourself a favour and check how much you have put in, What the current value is and what you are getting charged for Insurances IMMEDIATELY !! LEGALISED THEFT - Not Happy that this can still be happening !!

An Appalling Experience – I have been a member for over a decade and after my experience this week it is evident they don’t give a toss about the circumstances of their customers. After receiving an approval letter from ATO for max withdrawal of Super under the Covid19 relief and believing the amount of available funds in my Super was as it states on my ATO account I was… Read more

stunned when I checked my bank to find they’d paid only a very small portion of what I’d applied for. When I contacted to find out why I was told it was because there aren’t enough funds in my Super account and that the ATO records are inaccurate so they could only give me that small amount they had put into my bank account. Given that the world is in crisis due to Covid19 and so many people are doing it tough and having to make withdrawals from their Super fund, wouldn’t it have been nice if they cared enough about their customers to give a quick phone call or email to notify them of the lack of available funds and ask if they still want to go ahead with the application? Instead of just releasing the funds, saying nothing and not caring that the customer only gets one chance to withdraw money under Covid19 and could have made an alternative arrangement to withdraw from one of their other Super accounts instead or consolidate funds if only they’d been informed? I would not have applied to access the money I needed if it hadn’t been for an urgent situation. Just one phone call or email is all it would have taken so that I could make an informed decision to either proceed with the application, put it on hold or cancel it so that I could then withdraw from my other Super account. I understand they are very busy right now and according to the rep I spoke to when I contacted them - don’t have time to make courtesy phone calls to customers - but when a customer doesn’t receive the amount they are expecting, the customer is going to want to know why and ring them anyway. Surely the time it takes for a representative to look into the customer’s query and deal with an unhappy customer is far more time consuming than a simple phone call or email to the customer to let them know they don’t have enough funds? Thanks a lot Plum, because of your lack of care for your customers I - and I’m sure many others - now face an even more financially devastating situation from being denied the chance to make alternate arrangements to withdraw from another Super fund. Not only that but because you forwarded the very last of what was in my account instead of asking me if this was ok, I now have to put money straight back into my Super so that I don’t lose my insurance. I now stand to lose my business because I needed some of that money to buy items I need to run it, I am unable to pay for the course I need to do and don’t have enough for the surgery I very much need. If you cared enough about your customers you would have informed me of the lack of funds and you would have given me the option of cancelling the application so that I could apply to withdraw from my other Superannuation company instead of robbing me of that chance. After all these years of being your customer, I expected to be treated with some level of care but you failed miserably.

A mixed bag! – Was previously with Plum via my employer for many years. Good selection of super investment options and competitive fees. Investment performance also acceptable. Sometimes difficult to contact the Call Centre with long wait times. Some staff also not well trained or knowledgeable and provided incorrect information on several occasions. Totally… Read more

unacceptable! Difficult to get any financial advice as you are referred externally. Website sometimes extremely slow during peak periods. Plum has good products and performance but is let down by inconsistent customer service, online performance and financial advice process. A mixed bag!

Plum is always 2-3 days delayed with posting the actual superannuation amount – Plum is always 2-3 days delayed with posting the actual superannuation amount. I had a chat with their online chat and they said that it takes them 2-3 days to process the fund. Not good.

Complete and utter numpties - I'm glad my money's not with them – My employer has 3 employees who have super funds with Plum. This month Plum sent back the contributions for the previous month for 1 of these employees even though they have been accepting them with the same details for 2 years. I called them on 18 December. After 40+ minutes they couldn't find the member and asked me to email which I did. They… Read more

did not reply to the email.

I followed up today 30 December because I am about to send the December contributions. After 40+ minutes on the phone during which they again struggled to find their own member they told they had never received the money and that the Superstream clearing house had rejected the payment. This was false and I have confirmation from the Superstream clearing house that the money was sent to Plum and that Plum had rejected the payment.

In a second 40+ minute phone call today it was obvious that Plum had no idea whether they had received the contribution or not. They offered to call back in 5 business days which I rejected as it was already 6 business days since 18 December when I first called. It took a while but I got to speak to a Team Leader. I am supposed to get a call back tomorrow by midday.

I can't wait for the next thrilling installment.

Avoid this company – Employer sent funds this account, real battle to get the money back. They don’t respond to emails and when you send private information in the form of certified copies of a license , they just loose it and refuse to investigate. Potential identity fraud.

wish I had read these reviews before – 20+ years with these guys. Can't recall one positive interaction. Had health issues so thought would lose cover and not be reinsured if moved elsewhere (prior condition etc) so stayed with Plum. But that was a waste as they make it almost impossible to claim. Exorbitant fees, crap returns and continually being locked out of web site. Every interaction ends up being difficult and stressful.

WARNING - DO NOT USE - RIP OFF – Warning, poor performing super. they claim that the account is performing at a certain % that included my contributions.... I closed the account and charged me exorbent fees. After I closed the account my employer accidentally paid into plum account again and plum charged me $400 exit fees on $1400 of super.

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… Read more

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… Read more

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.

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… Read more

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.

Poor Performance – 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!!

avoid – 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

Money doesn’t grow rubbish super fund. 5 years of wasted time for me.