ING Living Super Fee Structure Is Changing

[Junior]

ING have been operating in Aust for about 10 or 12 years, building market share with very low cost products and even giving away money with that everyday bank account that paid you back like 2% of the monthly withdrawals, that was stopped about 12 months ago and now the super party is over.

I hate banks, i hate super funds.

Agree with this.

I have always been a big fan of ING due to their pricing & good customer service. And no issue with them ending the 2% cashback, given that all ATM withdrawals are still rebated and there are no other fees. It is easy and free to change bank accounts, not so with superannuation.

This Living Super situation is very very poor!! I never saw mention that the 0% MER was for a limited time only....super is a long term prospect, product providers should not be permitted to impose such dramatic fee increases with little to no warning! If they couldn't afford the original offer they never should have put it on the table in the first instance.

 

[Movendi]

If not going SMSF then what other good options are left? Australian Super?

 

[InsvestoBoy]

I am currently with my employer default super option, AMP Signature Super. We receive discounts on the usual fee otherwise it would be too expensive.

But I have been investigating SunSuper. They have the cheapest fees I have seen of any super fund. Very likely I will switch to them after my employer makes the contribution from this months pay packet.

See here: https://www.sunsuper.com.au/members/investments/investment-fees