ESuperfund Questions & Answers

Richard, If you mean can you use Ord Minnett instead of Comsec for share trading.
From Esuper site: "Clients of ESUPERFUND are permitted to use any Broker" but I not sure why you would.
Getting all your trading data/Dividends to and from Esuper to Ord Minnett, for compliance, would be very time consuming!
Esuper/Comsec only charge $30 per trade (ie 0.3% on a $10K trade).
Personally I mainly buy LIC's on ASX with low management cost - eg: ASX:AFI, management fees of 0.13% or ASX:DUI (0.15%) which have some international exposure. Do not take this as financial advice as I do not know your position but Esuper is a DIY, no advice model.

Dave. I understand what you are getting at. However, recommendations from the person I have been dealing at Ord Minnett in Sydney have been spot on in the last 12 months during the time I I have been an unofficial client. Ord Minnett also have access to IPOs that ComSec don’t. I am awaiting to see if ESUPERFUND systems automatically populate trades and dividends. My strategy is based on 1.Capital preservation. 2. Income, and 3. modest capital growth. There is a high probability of a world recession with interest rates at an all time low, the USD at an all time high and a rush to Bonds. I realise that Ord Minnett charge higher brokerage than ComSec however 75% of my SMSF assets are in accumulation phase because of the $1.6 million cap so brokerage is partially tax deductible. Thanks for your helpful comments. Richard

Correct. Your criticism is valid. EVERYTHING has to go through their web site which is very good but obviously lacks the human touch. They didn't used to be like that and I got reprimanded for using a direct email contact to my Manager and not using the web portal. Perhaps that is how they help contain costs but that whole attitude really needs a make over. I seriously considered dropping them any moving elsewhere just over their attitude to customer service.

I am a E super member over 10 years there web site is self explanatory of what is required, the fund is basically you do it all of where you wish to invest and at the end of the year that do all the paper work as per ATO requirements and ask a few question before they submit your papers on your behalf, is there something specific you wish to know.
Regards
Sam

I have emailed 20 times about my application submitted, money charged and not yet complete. I have received email, by automated system, to make amendment but when I click on the link the field which needs to be amended is greyed out. No one is responding and money is already deducted. What kind of on-boarding is this where there is no one to help resolve problem of your own system?

We are leaving after being with them several years. Customer complaints are not dealt with properly or efficiently. Cannot have current up to date info on your own Super accounts incorrect for months.

esuperfund.com.au/windup

Thanks

Hi Lynne, Yes this is a problem for them, they do not have a contact number, if you would like to email me your details I can go into my portal on your behalf and ask them to call you. [email protected]

This is an old thread, but I hope someone from eSuperfund watching this. I'm logging my application and send a query via my eSuperfund accoun, it has been 2 days with no answer, should I trust them with my investment?

Hi Brendon I understand your frustration, they do not have a contact Number as far as I can tell. If you are willing to give me your mobile number I am willing to send them a message via my portal and tell them your predicament and ask them to call you. Regards Jane

I don’t think you will have much luck. ESuperfund is very strict about what they will and won’t allow. That’s the basis of their low cost business model.

You need professional advice for that question.

I can tell you that we have an investment property owned by our smsf. Managing it via ESUPERFUND is no special hassle. They do actuarial certificates when required at very low cost. They require a valuation each year, so I just do it as a meeting minute, claiming an actual value and supporting it with examples of local sales. Otherwise just the normal documentation - copy of lease, rental income statement, expense receipts etc to be uploaded each year via their web portal. The property is fully owned, might be different if under finance.

The following is just my understanding and you should consult a specialist to discuss the following issues:
1) If the existing investment property is outside of your 'standard superfund' and held in a private capacity, then it would need to be valued and then transferred in to your super fund, probably as an 'undeducted contribution'.
2) The value transferred in would need to be below the 'ATO's 3 year bring forward rules' for super contributions. Additionally, the transfer would trigger a capital gains event in your personal capacity (since the transfer triggers a change of ownership from you to your SMSF). This could have a serious negative impact on your tax bill!
3) If the property is financed then the finance and ownership would most likely need to be 'redone' so that the SMSF is the registered owner.
Further complicating this is the fact that many banks have restricted lending for property purchases to SMSFs due to the fact that SMSFs can only take on limited recourse loans (ie no further claims by the bank (upon default) beyond taking back the property).

This answer comes from the link below ...

You cannot transfer residential property into your SMSF from a related party. You can only transfer Business Real Property (that is commercial or industrial property) into a SMSF from a related party.

You can buy new residential property inside your SMSF, and you can also borrow within the fund (using a non-recourse loan) to help you buy it, or you could buy it as tenants-in-common with your SMSF (that is you own say 50% in your own name and 50% under the SMSF).

https://money.stackexchange.com/questions/21880/can-i-transfer-my-investment-property-into-a-smsf

You can have 100% of your funds in pension mode, as long as your individual pension funds are less than $1.6m. Keep in mind that the pension fund is set at the start of the year. If you contribute new funds after the pension starts it goes into the accumulation fund. You can't change the pension fund once it has started - you can only close it and start a new one. For example, if you start the FY with $1m and then contribute another $200k a few months later you will have $1m in your pension fund and $200k in your accumulation fund. If you want, you can close the pension fund and start a new one with $1.2m, or leave it till the start of the new FY when that will happen automatically.

When you have these kinds of questions just send them an email. They're very good with answers but it must be by email.

Hi, I am windup with ESUPERFUND trying contact but no phone number and every time ask question there fee I have to pay, I don’t know what to do please tell me what to do. Thanks.