UniSuper

UniSuper Questions & Answers

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Annemaree L.
Annemaree L.

I am wondering how many members who began accessing their Unisuper flexipension in February 2023 have been effected by Unisuper “computer error” which has resulted in a miscalculation of some members pensions? I have been told by Unisuper there is a small cohort. I am one member effected and the miscalculation of balances has had significant implications.

UniSuper
UniSuper   DM   

Hi Annemaree. I wanted to take the opportunity to respond on behalf of UniSuper. I'm sorry to hear about your experience.

It sounds like we have fallen below the levels of service that we pride ourselves on. Can you please let us know if you would like someone to contact you regarding this matter?

Dr Cate
Dr Cate  

Dear Annemaree the only way to keep you money safe is to set up a SMSF and get the money out of UniSuper. I did this and it is the best thing I ever did. I would not trust Unisuper with your money the amount of fees and hidden charges will eat up your funds and in the long run you will be left with no money.

Marina
Marina

Is UniSuper a good fund? I’m with Australian Super and their returns have been pretty poor the last couple of years and I’m thinking of switching. Thank you

David & Sharyn P.
David & Sharyn P.  

I don’t know, rang this outfit to discuss and they didn’t bother replying.
I would hate to withdraw funds, if I had joined, knowing they don’t respond.

Rae
Rae  

Both UniSuper and Australian Super are excellent funds, with low fees and consistently good performance. In the last 18 months all superannuation funds have had reduced returns, and that includes UniSuper. If you actively keep an eye on your investment mix and switch within your portfolio when needed, you can get better returns. However, the returns are still below pre-inflation or pre the Russian invasion of Ukraine.

Marina
Marina  

Thank you David, Sharyn and Rae for your responses. I greatly appreciate all feedback regarding superannuation funds. I don’t want to make a hasty decision then have regrets.

UniSuper
UniSuper   DM   

We're going to say yes Marina! But we might be a tad biased... A few things to take note of when considering becoming a UniSuper member:

We have some of the lowest fees in the industry, we’re able to keep our fees low because our expert in-house investment team manage a lot of the funds themselves, more than the average super fund.

We're a consistently high-performing fund, over the 10 years to 30 June 2022, our Balanced option delivered 8.9% p.a.* Our Balanced option was also the best performing option on APRA’s My Super heatmap for the year ended 30 June 2022. This is the second consecutive year that the Balanced option has achieved this.

We've invested a lot of time and resources into developing a really smooth digital experience for our members, the UniSuper App and Member Online portal are feature rich, intuitive to use and industry leading.

And our member support offerings are first class, our award winning Financial Advice team has won the Chant West Best Fund: Advice Services in 2022, 2020, 2019 and 2017 (and general advice is free for UniSuper members!).

And... while we've also won a stack of Best Super Fund and Fund of the Year awards, our most recent, Canstar’s 2023 Most Satisfied Customers should give you the best indication that you're making the right choice.

Hope that helps Marina.

* Past performance is not an indicator of future performance. Consider the Product Disclosure Statement (PDS), Target Market Determination (TMD) and your circumstances before making decisions, because we haven’t.

Marina
Marina  

Thank you for all that information. It’s made me want investigate further and consider switching to UniSuper. Much appreciated for your time.

Liz Chard
Liz Chard

Do you have a representative in Noosa I’m considering changing my self managed super
Thanks Liz Chard

UniSuper
UniSuper   DM   

Hi Liz, We don’t have a centre in Noosa, you can find al our locations here: external link 

That said, our advice team offer fantastic assistance via teleconference, you can see the services they offer here: external link 

Denis and Sharryn
Denis and Sharryn  

We used UniSuper via tele conference. Had no problems.

Jo M
Jo M

I want to rollover my UniSuper account to another fund and then contribute only after tax contributions to my UniSuper Account. Will my account be closed after I rollover the current balance, or will it remain open for a time so that I can make my after tax contributions. I am hoping to keep this account as only after tax contributions for tax benefits for my estate. I am posting here as the queue for help today via phone was over 1 hour wait time. Not sure how else to get a simple question not covered by the help documents answered.

UniSuper
UniSuper   DM   

Hi Jo, sorry for the long delay in getting back to you. I'f you're still looking for answers on this, if you elect for a full rollover your account will close down fully. If you want to keep your account you can do a partial rollover leaving $6000 in the account.

tammy fanelli
tammy fanelli

hi looking for a super for my 16years old son as he is starting an apprenticeship i am with cbus myself

UniSuper
UniSuper   DM   

Hey Tammy, He can join us! The best place to start would be here to gain a bit more information about who we are as a fund and how we've performed: external link 

Sheila
Sheila

Good Evening, I am with IOOF Super fund and I have heard good things about UNI Super. Is it easy to swap over? I only have about 5-6 years of working life left. Thanks

Leonie S.
Leonie S.  

Hello Sheila,
I suggest phoning them and asking that question......all the very best.
Kind regards,
Leonie

Dianne
Dianne  

Hi Sheila yes it is relatively simple but they will advise, on your time frame to retirement their advice is often made very clear and precise but at the end of the day it will becyour choice.

UniSuper
UniSuper   DM   

Hi Sheila, it certainly is! You can combine your IOOF super into your UniSuper account when you join us by using our simple combine super tool. You can start here: external link 

Thanks for reaching out.

Dr. Ikram Bajwa
Dr. Ikram Bajwa

I am working with a Company as Part-Time from many years and I am using CBA EssentialSuper.
Few months ago, I also have started a Research Assistance Casual Job with University. University is using UniSuper.

My question is that, can I also use CBA EssentialSuper for my University Casual Job? Instead of UniSuper?

PReb
PReb

I am a 65 year's old and in a normal growth account. If I move to Pension fund I gather I must accept a minimum of 5%. What is the last 5 to 10 years growth for my balance in a default fund.>

midlifetraveller
midlifetraveller

I am somewhat surprise to see quite a few negative comments about Unisuper. Although I also had a few bad experiences with particular call centre staff over the last 2-3 years my overall impression is that Unisuper is relatively and comparatively quite acceptable. Does anyone have a general view or opinion here on Unisuper?

Kenmore Financial
Kenmore Financial  

How good (or bad) a super fund is for you will depend on what you are after. Some people may want updates every month, some are happy with a statement once a year. The more updates, the higher the expenses because you want more from the fund. You might be happy with the default investment option. Generally this is fairly aggressive with investments in shares, private (smaller) companies, hedge funds and other alternative investments. This is great if you want growth and you are happy to ride out the next market dip, but may not be great if you are a conservative investor. A super fund is an investment vehicle, it is where you want to take the vehicle that is important. like every car, it is the hidden stuff under the bonnet that determines how well the fund performs, and that is the stuff you need to look into. Kenmore Financial are professional financial advisers if you need further advice.

Lulu
Lulu  

UniSuper are the worst fund for member care. Read all the other poor reviews. I have opened a case against them with the Australian Financial Complaints Authority.

stu.mather
stu.mather  

I've been with them since the 90's. I've had no issue with them. Competitive fees and good returns. The numerous awards they've won speak for themselves. Here's some Chant West ratings..
SHORT TERM:
Top 10 All Growth investment options: 1 year to December 2019
Super fund Investment option Return
- UniSuper High Growth 24.3%
- Vision Just Shares 23.8%
- MLC Aust & Global Shares 23.7%
- Sunsuper Shares 23.4%
- Rest Shares 23.0%
- Mercer Diversified Shares 22.8%
- Aust Catholic Super & Retirement Shares 22.5%
- ESSSuper Shares Only 21.8%
- BUSSQ All Shares 21.7%
- CFS FirstChoice High Growth 21.6%
LONG TERM
Top 10 All Growth investment options: 10 years to December 2019
Super fund Investment option Return (% per yr)
UniSuper High Growth 10.2%
Rest Shares 10.2%
ESSSuper Shares Only 9.8%
Equip Growth Plus 9.8%
VicSuper Equity Growth 9.6%
MLC Horizon 6 9.5%
MLC Aust & Global Shares 9.4%
Vision Super Just Shares 9.3%
MLC Aggressive 9.1%
Plum Pre-Mixed Aggressive 9.1%

The numbers don't lie.

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