Wasting my money, not user friendly, poor customer service
This fund has high indirect costs, much higher compared to other industry funds. Their returns have also been sliding. The online "app" is not an app but merely the online member portal/website customized to a mobile phone screen with much less functionality compared to the website.
Have experienced long waits on the phone and staff not sure of their answers. Also received different answers on the same question from different people.
Helped a friend with a death claim. Her beloved husband passed away and it took almost 6 months to get the m...oney out of Statewide. It was a very stressful period for her and the lack of communication from Statewide did not make things easier, they made things worse. I have now left the fund because I would not want to put my loved ones through a painful process. This should be business as usual!
Would prefer to be able to give 0 stars.
Statewide Super refused to send my account to my nominated Superannuation Fund in a timely manner. When they did send it, it was minus almost $5 000 in a one week period of the amount I had accumulated over a 39-year period of continuous work. Statewide claims that the investment option went down in value. In truth the share market rose that week. I was given a variety of reasons as to why the transfer to my nominated fund did not occur. Avoid this company.
Horrible! Such a nightmare!
If only I could give no stars for this company. Horrible! Deducted $485 on my account for insurance premium which is supposedly just $6 a month! And the nerve of cancelling my insurance after because I have insufficient amount left! Now they can’t explain what happened and leave me hanging as to where did my money go!
Great Canstar rating, pity about the Customer Service
Proceed with caution - watch the way they take insurance from you - is an automated process. They took $178.00 last month . I did not agree or approve of this - now have to apply for cancellation and a proportion refund - I am 64 yrs old...why would I agree to $178.00 per month insurance when my contribution is only 200.00 per month. This company is not offering any supportive service. Staff are matter of fact and ho hum with no empathy. Biggest mistake I made was to leave AMP.....they may charge more fees but customer service exemplary.
Can't update investment mix online over several weeks
I have recently joined Statewide. I am fast regretting my decision to join them. I haven't been able to change my investment mix online over several weeks. I even notified them weeks ago but they didn't fix the issue. I also felt the process of establishing an account with them was strange as I wasn't given an account number until my employer made a payment. I haven't received a welcome pack my mail after several weeks. I don't recommend Statewide at all. I feel I am living a super nightmare.
Expensive and unfair.
As mentioned by other reviewers the insurance on this Super is not only expensive but difficult to remove.
Furthermore the administration fees are quite high and yoy can easily find a better performing fund quite easily for less.
However, be careful when you rollover to a new fund, they'll squeeze as much out of you as possible, so be prepared to take a hit (exit fees, administration fees, insurance, etc.)
I wish I had done better research and not allowed my employer to nominate a super provider for me all those years ago. So much hard earned money down the drain.
Terrible Retirement Processing
In November 2014 I gave advance notice of plans to retire and to access some money for retirement projects. Statewide responded by emailing relevant forms.
The first problem began when my emailed completed forms that were subsequently misplaced, so we had to come in and reapply. Whilst reapplying they advised there was a whole additional process to go through to which we promptly resolved over a few days.
Once our payout value was calculated and documented we withdraw the designated portion from the funds and commenced our retirement pro...ject. Shortly after they rang to advise that they had miscalculated the tax component of the payout value, upon the statement, to which Statewide pleaded that we repay a large sum of money. After much reflectance and frustration, we repaid the sum of money. Statewide were very fortunate that we did not hold them accountable to the documented payout value. Today my fortnightly superannuation income benefit was not credited to my bank account! In response we logged in to my Statewide Account and entered my password, however once logged in, a prompt appeared to change my password but the password change process rejected by past password, consequently could not access my account to establish why I did not receive my fortnightly income benefit. There is also no "if your forgotten your password, to reset, select the following options " unlike most websites.
finding it VERY difficult to get hold of my money
I rang, requested forms to claim my super, nothing arrived, rang again 2wks later, somebody emailed me some told me I could email everything back. Wrong! They need the original signed ID certification. I asked for best address to get it right to the person, they gave me the Wrong address! Go & get another one! Easy when you live miles away from everything. Great to have staff that don't know their own protocols or even their own work address! Not their money,they don't care. It was bad enough that I had trouble getting them to cancel the insurance on it, but trying to get hold of my own money, that's even more difficult.
They add insurance without asking and will charge you for it
Awful, was forced to join this super company by my new employer which is illegal anyway. When I received my 'Welcome package' I found I had been given two types of insurance that I hadn't asked for. When I called to have this cancelled I was told I would need to fill out a form and send it to them and that the charges to my account could not be reversed. Do not join!
Insurance I didn't know about.
I got my statement in September and discovered that half my super from last year was taken to pay for insurance I didn't ask for. I researched this and Statewide charge a 20% administration fee for insurance on top of the $78 administration fee. Taking twice for a lousy service, Not fair.
Hidden insurance that ate my super.
My Postal Address Keeps On Changing!
I rented a post office box for a year in 2005 and when I filled out the redirection form I elected Australia Post NOT to tell any organisations about my post office box, but I found out later that they did. I cancelled it in 2006, and in 2008 Statewide sent my annual statement to my old post office box address. I changed my postal address back to my residential address but Statewide changed it back to the old post office box again in 2011. When I asked them why they kept on changing my address to a post office box that I no longer rent, they to...ld me they used the services of a third party service provider who checks the lists that Australia Post provides to organisations when people place a redirection on their mail and ask Australia Post to inform organisations. I thought you were only supposed to use the latest lists to update addresses but Statewide don't seem to care that they are being provided with old addresses. The ATO rules for super funds is that "if one piece of mail is returned to the super fund unclaimed, they may choose to report the member as lost. However, if they receive two pieces of unclaimed mail, they must report the member as lost." I don't want to end up on the Lost Members Register if I can help it. You can possibly end up on the Lost Members Register because of their stupidity
My company have been putting in excess of $300 every month for one year (some months more than $500), I was expecting well about $3000 or more on my super this year, but after investment losses, administration fees, insurance premiums, contributions tax, and "member benefit protection credit" I had only $300 in my account. A net loss of $2700 on one year! I had enough of these bludgers.
Quick to answer the phone
Excessive fees, misleading statements, poor online statement availability
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