I want to understand what are the benefits of moving from Hostplus and Australian Super to ING living super specially from investing super point of view.
ING Living Super - Benefits? Any one using it want to share some thoughts?
[Deactivated] on 07/05/2020 - 12:45
Last edited 07/05/2020 - 12:52
Last edited 07/05/2020 - 12:52
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Even with the dodgy advertising, they were still very low cost in terms of fees for their balanced option at the time.
They changed it around 4 years ago and they're nothing special now, their only standout is the direct investment option to choose exactly which shares you want to invest in but even then the fees for this are pretty high.
I use it because I like keeping my banking and super together. The added bonus is being able to trade shares within super. I took advantage of this when the market crashed and was able to quadrupled my balance on Afterpay shares.
Did you go with Growth strategy or balance?
Neither. For the short term I moved my whole balance to cash and bought a lot of shares that I thought were undervalued.
Upon signin up it asks which strategy i want to choose.
@[Deactivated]: Generally, choose growth if you have a longer investment timeline. Choose balanced if you are retiring soon.
Maybe call them an explain what your goal is and they should suggest the best option for you. I say this because it takes a week or so to open a share trading account with them and I don't remember if I was liable for fees to exit from their existing strategies.
You don't want to choose a strategy, have them set it up for you and then have to pay fees to exit said strategy after a week if your goal is to trade shares yourself.
The primary feature of ING Living Super is the ability to trade direct equities (within the limitations of the product). If this is something you are interested in, then this may be the product for you. In this way it gives you some of the flexibility of an SMSF but without the associated cost and hassle, so long as your investment requirements don't go beyond direct equities and specifically those the product allows you to trade.
If you are not interested in direct equities, I'd probably look elsewhere.
I left ing and switched to HOSTPLUS.
Ing is quite expensive fees wise compared to others.is it really? 60 p.a + 0.6% while hostplus is 180 for trading + 70 for super a/c admin fee.
They made a splash around 5 years ago with a "no fees" option that was deemed misleading and they had to pay compensation for false advertising https://superreview.moneymanagement.com.au/news/superannuati…
They started charging fees, and I haven't heard anything since then to indicate they are a stand-out in any way.
https://www.chantwest.com.au/applecheck is a paid service if you access directly
You can access for free via a button on this page
https://www.australiansuper.com/compare-us
or this page
https://hostplus.com.au/super/join/compare-us
Might provide more nuanced information about fees and performance