VicSuper Questions & Answers
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Want to know what is happening with my overseas departure withdrawal application My VicSuper number 98150451 My request number is #2655442
I have been i contact with Aware super that now controls Vicsuper.....I have spent hours trying to get the amount that was in my super in 2000 no body will give me an answer..... I need this for legal reasons.......... They just keep don't answer....it appears to be too difficult to look up records
Based on my own experience, could I suggest you contact the Superannuation Ombudsman with a complaint if you’ve not been able to get answers by any other means. They are very responsive and the funds resource queries they raise promptly. Good luck and please let others know (via this medium), whether Aware are more responsive to the Ombudsman than yourself. What a disgrace you need to go to this extent to get a response.
It thebstabdard answer mate I've been trying to get records from before December last year and they can't bring it up in there system they always say it's down... hard to believe they operate if they don't keep records. Look into ombudsman's complaint after they get a few the same surly something will be done
Does VicSuper have a physical branch (in Melbourne) I can attend? I am changing super funds as I am Hard of Hearing, and their only contact option is by phone, which is inaccessible to me.
If you are over 60 can you get some money from Sper and pay no tax?
Received message from VicSuper about fee changes. What does this mean overall?
What’s changing from 30 September 2022? We’re removing the Management fee for the diversified investment options (previously 0.15%). We’re removing the Management fee for the single asset class investment options (previously 0.06%, excluding the cash investment option where no Management fee was applicable). We’re including some of the Management fee in the Administration fee, which means a small increase from 0.20% to 0.23%.
That had me puzzled too.
Good morning , Thank you for your question's. We would like to take the time to go through these with you and oversee your account. We kindly ask to please send us a private message with your best contact number and membership number so we can reach out to you directly. (For your own privacy please do not reply directly to this message with your contact details as these messages are made public)
We're here to help. Thank you, Vic Super
Not much of an answer? Am I asking for information Vicsuper do not want generally known? Wow. Secret info..makes you wonder.
The Government has dropped the work test as of July for people aged between 67 to 75 incl. Existing money in a fixed term deposit generates, at present, little or no returns. Where in a super fund would you put this money to gain best returns? I am a married male aged 70. Please advise.
Vicsuper has a few different investment options, you can mix and match the percentage of each to your liking. There is a lot of information on the internet. You need to analyze them carefully. The bottom line is that the greater interest earned will mean a greater risk of losing money during stock market downturns. Some years you will do well, but not every year.
Hi Dexta, Thank you for taking a proactive approach to your superannuation. So we can get a better understanding of your needs and best assist you further we would welcome a call on 1300 366 216.
Our consultants can go over your account with you and refer you to our advice services team to help identify which investment option is best for you. We're here to help.
Thanks again, VicSuper
How can this fund be high rating in stars when it is under performing a balance which was high in Dec and now is low then??
let me guest Markets and not vicsuper and been told if i do not like there is the door??
no real answer when i was speaking with them i am looking else where
The reason I rate VicSuper is because they are open and transparent, and they help me if I have any difficulties or questions. My transition into retirement was made possible for these reasons (for me). Performance may go up and down, but I have no reason to put my money in retirement elsewhere. The investment options are very flexible that lets you tailor make it more to your liking. Sorry if I can't give you a more technical explanation than that.
Hi Mangi, Thank you for reaching out. Your Super is invested in the financial markets and the movement of these markets will affect the value of your super. While you can choose your investment options ranging from very low to very high risk, all types of investments are subject to the risk of loss and their value can change quickly.
Generally assets with a higher risk profile are likely to fluctuate more in value over the short term, so they have a greater possibility of falling in value and by larger amounts. On the other hand, they have the potential to deliver higher average returns over the long term.
Superannuation is designed to perform over the long term and any regular market fluctuation should not be a reason to be concerned.
We would welcome a private message if you wanted to discuss any concerns regarding your account.
Thank you, Vic Super
A standard response for a poor performance blame the market!!
Is Vicsuper open to non vic public employee
Yes.
Hi Brett, Thank you for your question. Vic Super is available for every Australian that is of working age. You can view our products using the following link : external link . Feel free to contact us on 1300 366 216, so we can answer any further enquiries you may have - We're here to help.
Thanks again, Vic Super
I have a growth fund, but in the statements I receive there is no evidence of growth. Only my employers contributions and fees taken out. It apprears to have zero growth. Why is this so?
Hi SKA, Thank you for reaching out to us. We would like to organise for one of our consultants to give you a phone call. We will just require for you to send us a private message confirming your best contact number and membership number. (For your own privacy please do not reply directly to this message with your contact details as these messages are made public) Alternatively, please contact us directly on 1300 366 216. We’d be happy to go through your statement with you over the phone. Thanks, Vic Super
It is a good idea to take a snapshot at end of each month. Then punch in the current super account balance, take away the balance from the end of last month, and take away any contributions made in between. This will give you the amount you gained over the month. Do account for fees paid that month as well.
Is it worthwhile discussing transferring my superannuation retirement funds from one super fund in one state (QLD) to VicSuper? My experience of my super fund has eroded my confidence in theIr communication that is not understandable to me. The reviews of my super fund are very poor comparatively. Is it too late to gain a superior and more stable financial benefit for the remainder of my super fund life? Susan
It is always worthwhile having a discussion to make the best decision for you. It is too early for me to do a review but very happy so far and hopeful,
Hi Susan - we would be happy to discuss that with you. We'll send you a direct message requesting some details so a member of our team can get in touch. Thanks, Katarina
Hi in the last 6 months my super account contribution was of $4500 but in the same period it has lost $4700 plus I still had to pay $1150 of fees, how is it possible that high loss and still have to pay high fees? No explanation of reasons for loss in the information sent with the account balance! Not happy thinking to change super fund
Hello, thanks for getting in touch. The recent share market volatility has been driven by uncertainty about the impact of Coronavirus disease. Super is a long-term investment and can experience bouts of share market volatility. It is probably a good time to get in touch and review which investment option you are invested in to determine whether that is the right one for you. The fees you mention will most likely be a combination of administration fees, insurance fees (if you have insurance) and the compulsory government contributions tax. It's a good idea to review your half yearly benefit statement as this will break down the fees in detail. Our Member Services team can answer any queries on your super on 1300 366 216 during business hours - please feel free to get in touch and discuss your questions and concerns with us. Regards, VicSuper
I have recently retired a little earlier than planned but we will be drawing from my husband’s super In another fund before mine. Do I need to change anything or convert mine to a pension account now that there won’t be any further contributions and how do I go about cancelling my income protection insurance? I have previously dealt with Dion Miller who has been very helpful.
Dion Miller was also the person I saw at Vicsuper. Can't speak highly enough of the service he gave me over the years and sounds like he was really helpful to you as well. Sadly, for us, he has been moved to another role. My recent attempt to try and access help from Vicsuper without this personalized and high level of service from the wonderful Dion Miller has been frustrating and totally miserable. I am so disappointed in what seems to happening to Vicsuper and the huge amounts they are now asking for things like help with setting up pension accounts. So, so disappointed.
Thank you for your comments NCM, I’m really disappointed that Dion has moved into a different role as he was excellent. I had hoped the merger would result in equal or better service but it seems perhaps it hasn’t. All the best. Julie
Hi Julie, thanks for getting in touch with your question. We remain just as committed to our members as always, and while there have been some changes to the advice model - it continues to be one of the key services we provide to members.
We appreciate that change takes some time for members to adjust to, however we needed to evolve our advice model to provide a sustainable one and in order to meet changing regulatory expectations. The merger will benefit our members through size and scale, such as increased investment opportunities, lower investment and administration fees (which have been announced for November 1), and greater scope to improve products and services.
We'll reach out to you via direct message so that a member of our team can contact you directly and assist with your query.
Regards, VicSuper
We changed our $250k super investment options from Capital Secure into Cash. As seniors in our late 70s have we made the right decision? Our personal advisor has not been contactable. Raymond
Unfortunately as I am not a financial adviser / planner I am unable to comment on any individual matter. From a personal experience I am aware that the advisors at VicSuper are still contactable for the advice you are seeking. Good luck with what aver decision you make
Hi Raymond Thank you for reaching out. We encourage you to contact our Member Services team on 1300 366 216 to discuss your situation. Our Member Centre is experiencing high demand, with longer than normal wait times. If you can't reach us, you can also private message your contact details and we’ll arrange for a team member to give you a call.
Regards VicSuper
Can you choose the risk Level you want to invest in or rely on someone to assess risks
Hi Wendy, Thanks for reaching out. You have the choice to select an investment option that matches your risk appetite. If you joined VicSuper without making a choice regarding your investment option, you’ll be invested in our default option - Growth, which has a medium to high risk level.
You can change your investment option at any time based on your risk appetite. You can assess your risk level via Beeline, our online financial coach, or you can speak to a member of our team by calling 1300 366 216.
Access Beeline (if you’re a VicSuper member): external link
More information about your risk appetite: external link
From the team at VicSuper
I am with AMP for the last 15yrs ,want to change over ,do Vic super offer TPD and life insurance through super.
Hi Noel Apologies for the delay in our response. We do provide life and TPD insurance through super but we encourage you to contact our Member Services team on 1300 366 216 to discuss your situation. Alternatively, you can private message your best contact number and we'll arrange for a team member to give you a call. Regards VicSuper
I have had a VicSuper account for more than 20 years, since returning to teaching in 1998. I am still contributing at age 73 but am a bit disappointed at the rate of growth in my bottom line. Most of the improvement seems to come from my contributions and amounts contributed on my behalf by my employer. Looking at the fees charged and comparing them with other, similar funds, I notice that VicSuper charges more than some of the other funds. What is the justification for this?
Hi Gavin We encourage you to contact our Member Services team on 1300 366 216 to discuss your situation. Alternatively, you can private message your best contact number and we’ll arrange for a team member to give you a call. Regards VicSuper
Thank you for replying.
The vic super default growth fund has a ridiculously high fee of 1.14% per annum and has failed to beat the benchmark in the previous 10 years, steer well clear, might offer free advice but who is paying in the long run.
external link
how do i get in touch with someone for a chat?
Hi there
Thanks for reaching out. You can call our team on 1300 366 216 or alternatively, please send through your contact details via private message and we’ll get someone from our team to get in touch with you. Regards VicSuper
Hi - I am with Q Super but I can see that they are just robbing their members blind with insurances that aren't necessary. It is obvious that they are lining their own pockets. As I work in Qld, is it easy or even possible to swap to VicSuper?
Hi Pumi Thanks so much for your question. We are a profit to member fund open to everyone across Australia, so you can definitely join VicSuper even though you work in Queensland. We work to deliver real value for all our members and we're one of only seven super funds in Australia to be rated 5-Stars by Canstar for Outstanding Value.
Joining VicSuper can be done online and only takes a few minutes. You can rollover your other super funds as part of the joining process.
We encourage you to contact our team on 1300 366 216 to discuss your situation. You can also private message your contact details and we’ll arrange for a team member to give you a call. Regards VicSuper
Hi there
I am currently with Hostplus, as I was working in Hospitality industry. Now I have moved to transport industry and working as owner driver.
Just wondering if VicSuper have benefits for transport industry workers and how long does it take to roll over?
Hi Jas Thanks for getting in touch. We are a profit-to-member fund open to all industries. We work to deliver real value for all our members and we're one of only seven super funds in Australia to be rated 5-Stars by Canstar for Outstanding Value.
Joining VicSuper can be done on our website and only takes a few minutes. You can rollover your other super funds as part of the joining process.
We encourage you to contact our team on 1300 366 216 to discuss your situation. You can also private message your contact details and we’ll arrange for a team member to give you a call.
Regards
VicSuper
I am a teacher and I want to make a contribution to my super and claim a deduction on my tax return. There are 2 BPAY codes listed in my vicsuper portal...Personal Contributions and Personal (Deductible) contributions...which one do I use?
Hi Shell. To make a contribution and then claim a deduction, please use the personal (deductible) contributions BPAY details. After you've made an after-tax contribution into your VicSuper account, you have until before you lodge you tax return and the end of the following financial year to claim your tax deduction. You have to let us know you intend to claim a deduction in your tax return by completing the Notice of intent to claim or vary a deduction for personal super contributions form before lodging your tax return. You'll then get a letter back from us which you'll need to use to claim your deduction in your tax return. If you have any questions, feel free to call our team on 1300 366 216. Regards VicSuper
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