UniSuper

Even a dog gets it right in a bull market. They will stop answering your calls or returning emails when you call to switch your super. Universities need to be investigated on forcing their staff to use this good-for-nothing fund. Nothing that they will do despite the rut the market is going through. Not sure if they have interns as their so called fund managers.

I have just retired with a small super balance of 110,000. I was shocked to see today that this has dropped virtually overnight to $96,000. This had been slowly building over many years. This is a huge amount to drop on such a small account. I am not a savvy investor but how do I know if this is genuinely due to COVID19 influences or not? Can I trust UniSuper not to use client money to keep themselves afloat ?

Been with them 30 years and they have low fees and consistently return better than average returns. My retirement will be much more comfortable thanks largely to Unisuper. Can't say I've had much contact with their staff though.

I opened a case against UniSuper with the Australian Financial Complaints Authority in 2019 for their dishonest business practice. AFCA found in my favor 8 months later but UniSuper chose to PAYG tax the Omdudsman awarded payment 6 years after it was claimed for. I am now an aged pensioner and I will have to pay the income tax and my pension will be reduced for the next 12 months. Unethical and morally wrong!!

I called UniSuper to ask if I could change from them to my super account I'd been with for the last ten years and was told I couldn't. The man I spoke to said that it was compulsory for my super to go into this account and that was the case with all uni staff. He said the uni was under no obligation to send my super elsewhere. According to him they didn't need to offer that option.

Been with UniSuper for close to 20 years on defined benefit and balance is just over $300k, never added any additional contributions. Was on the Balanced plan until about 4 years ago when went to a high-risk plan, then last year I paid them about $600 to do a thorough review of my investment strategy and suggest a custom plan which is now in place, it has similar returns but lower risk as my own attempts ended up over-exposing me to higher levels of risk for no extra return. They also reviewed insurance and made some recommendations but I didn't implement those. Nothing to complain about, fees seem reasonable and I'm happy with my current balance.

Unisuper for charged me Insurance Premiums for the last 6 months without my authorisation. The form to transfer from Defined Benefits to Accum 2 was so full of jargons, with a hidden message that says you will automatically pay for insurance premiums if you make this move. The process to opt out of insurance was made difficult by not allowing me to cancel over the phone. Instead I had to log into my account, but remember you can't just click 'cancel', you have to go through all the categories and tick the smallest of tick boxes. It was so simple for them to charge me insurance I didn't need but so hard to cancel something I never wanted.

I'm getting ready to move to a Personal/Pension retirement account, but based on UniSuper's fee table for High Growth, and my current balance, the thought of more than $5000 per annum in fees is alarming. I'm having to consider options other than UniSuper. The returns from High Growth have been reasonable; the sting is in the outrageously scaled up management fees when you move from Accumulation to Personal/Pension. Not sure if the Banking RC is going to look at this - hope they do.

I,m with them for 15 years, and over all those years returns were very small !! . As I, 64 so its a bit late to change my Super so i decided to keep it in ;cash 100%. Minute returns, but no more shrinking "feeling " .Not recommended to anybody.

Totally useless and inefficent administration, each time you ring you will get a different story.
Tried to withdraw funds being over 65, wow the left hand does not know what the right hand is doing.
Five phone calls to just get processed, each call they tell a different payment date, then blame bank, only to find still not processed in own office.
If you have a choice stay away from this fund

I was fortunate to work a casual job tutoring for my university, which enabled me to open a UniSuper account. The fund has low fees, great returns and an amazing website (just missing an iOS / Android app in my opinion). My rare phone dealings have always been polite and efficient.

I Definitely recommend UniSuper.

I’ve been with UniSuper for over 30 years and have found it to be a very good fund with low fees and great retirement options. I was initially in the defined benefit scheme but switched to the accumulation scheme when I left the higher education sector some years ago. The feedback in the form of newsletters, being able to log on and check your super and the ability to easily change your investment, such as from high growth to conservative are very useful. I have compared funds and can find no other I would rather be with.