Read also:
victa 16" ultralite cut and catch lawn mower red hot pie full site dun and bradstreet scam calls hoover action pets powerhead vacuum cleaner real tv box review australia panasonic cs cu z18rkr reviewPlum Financial Services (page 2 of 2)
Very poor fund
I left a company that payed into plum to another company that also payed into plum!
That's were the fun began I had to transfer my insurance first then transfer my super too the second fund other wise I'd lose $500.000 insurance cover
Plum transferred the insurance but didn't change over my super!!!!! 12 months later $1700 in fees because of their incompetence.
When I asked for that money to be refunded into my account I was told NO it's my fault because I didn't check.
Without Prejudice they are thieves.
Anyone with plum or thinking of going with plum need there head red.............
Similar opinion? Write a review on ieatwords.com.au!
worst company in the world
Trying to make a claim TPD with this company is just impossible all they do is set up a call centre so you cant actually talk to anyone except some fool on the end of a line that should be selling phone plans not dealing with the rest of your future. They are single headedly ruining my life to the point I will have to sell my house, the delay in the claim is by no means my illness or illegibility for TPD as I am dying but the delay is due to there complete incompetence and internal structures. Complete lack of empathy or evening understanding for there members well being they just couldn't care less.
Similar opinion? Write a review on ieatwords.com.au!
SBsydney
Worst customer service
I left NAB and called up for my new super details - as they have the wrong address they won't give me any infomration. I could give them my TFN, DOB, EMAIL ADDRESS but not good enough. Ans Sean from Plum was nice enough to tell me my only option was to leave and transfer my funds out.... Good work plum!....
Similar opinion? Write a review on ieatwords.com.au!
Find out how Plum Financial Services compares to other Retail Superannuation Funds
Know better, choose better.
Worst decision made
I changed jobs and remained in Plum super as it was easy. I wish I didn't, I have not even made back inflationary costs since I have had an account with them. I am in the process of changing funds and they do not make it easy. Do not settle for this level of service or returns. An expensive mistake
1 comment
Similar opinion? Write a review on ieatwords.com.au!
rocco
- 2 reviews
Awful website
I am in the process of negotiating a redundancy and have been trying all morning to access the website. It simply will not load. This is not an uncommon occurrence and it is usually shut down for a day or two every weekend. I know this has little to do with funds management but it is not a good look. I wont miss Plum if I do leave work and take my funds elsewhere.
1 comment
And another thing
When my redundancy finally went through, plum "lost" my final months contributions for about a month.... Read more
I wad trying to get my funds out by couldn't until the final payment was processed. I was hassling the pay office, plum were blaming the employer and I just got nowhere. Eventually it was blamed on a software problem at plum. Glad I had decided to take my funds to another manager.Similar opinion? Write a review on ieatwords.com.au!
Michael5555Greater Melbourne (Metropolitan), VIC
- 8 reviews
- 11 likes
Terrible service
Unfriendly staff, they are very unhelpful and they dont seem to care about their customers. Out of touch with poor knowledge. Expensive to run with a very low return, extremely expensive insurance. Supervisors and managers dont want to talk to members. Staff support you to make a complaint because they believe nothing will be done about the complaint.
They dont care about members
Similar opinion? Write a review on ieatwords.com.au!
shellfreak
- 168 reviews
Bad
This fund, like so many retail super funds, is really only competitive while you're working at the employer who uses it as their default fund. Once you leave, you are better off taking your money out and putting it into an industry fund or something else much cheaper. The investment choices are also not as wide as most other funds. Look elsewhere if you're choosing a super fund.
Reasonably competitive fees on employer sponsored plans.
Poor investment choice, expensive if you leave your job and end up on its corporate fund. Website isn't much good either, being difficult to navigate and lacking information.
Similar opinion? Write a review on ieatwords.com.au!
Plum out of time
My former company super got rolled into Plum. The returns on the aggressive option have been -8% from December 2006 to present (Oct 2011). Finally decided to cash it out and put it into the SMSF - then I can only blame myself for poor returns!
Well, they were helpful in the rollowver
Very poor returns - much worse than my wife's super over similar period
Similar opinion? Write a review on ieatwords.com.au!
goon boyMELBOURNE
poor returns each year.
Old employer had plum, I used it for a while after I left. The returns were awful. The market has risen 26% but plum super went backwards in the basic share investments! You would be better putting you money under a mattress, or investing in lottery tickets. Really anything is better than plum.
reliable backwards movemnt even if the market goes up.
poor investments, regardless of the options.
Similar opinion? Write a review on ieatwords.com.au!
Find out how Plum Financial Services compares to other Retail Superannuation Funds
Know better, choose better.
kfinney
- 2 reviews
- 2 likes
Terrible
Had the unfortunate experience of belonging to a defined benefit plan managed by Plum. Plum never produced an accurate statement at the first attempt and consistently reported incorrect contribution information to the ATO for surcharge purposes. Plum's complaints procedure appears to be designed to rubber stamp what ever its incompetent employees suggest.
Incompetent and dishonest
Similar opinion? Write a review on ieatwords.com.au!
Junex1
- 6 reviews
- 5 likes
Terrible
I gave Plum a chance to redeem itself after huge losses during financial crisis. A year after this period, my fund still made a loss for me, it is time to change!
Okay when working.
I stopped working in my 50's and watched my super decrease in value over the last couple of years. Even over the period where investments picked up, my superannuation value went down. The fees are exorbitant for such incompetence.
Similar opinion? Write a review on ieatwords.com.au!
Questions & Answers
Hemaraasked
I had a stroke in October and because of the severity of it I am no longer able to work as a truck driver. I made enquires to Plum to see if I could access some funds because of the financial hardship I am posed with. My wife’s income is not enough to keep us going. I have been with Plum for 10 years. Their answer to my ? was that I needed to get legal advice in order for them to release any funds. I am 63 years old.
Has anyone else had the same experience or can anyone help me out.
I have not heard back from them since Jan 10 2020 in regards to naming my wife as beneficiary ( they said they would send the necessary paperwork)
1 answer
Hi Hemara,
So sorry to hear of your circumstances.
My review was written as a customer. I have no affiliation with the company.
I did do a bit of research on your behalf.and believe the best course of action would be to contact the tax office for advice or read their 'accessing super early webpage.
Why did bhpbilliton switch from Russell to Plum if Plum performance is so poor? Also is Plum tied in with MLC and/or NAB .As far as I can see performance is largely relative to quality of personnel and these seem to be on the move constantly from one fund to another. I cannot get any response from Plum from questions I have raised.
1 answer
Hi, we use Ellerfield Financial Planning - they have been around for a long time and can give advice/help on Plum products and investment strategies
kevin7asked
I am rfetired 73yo and have $70,000 in plum which is doing nothing is there a better situation for me this is my total savings??
1 answer
We have used Ellerfield Financial Planning - they can give advice on Plum super accounts and where you invest - very happy with their service
ieatwords.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ieatwords.com.au may earn commissions for products/services purchased via affiliate links.
Alex
Transfer/exit fee as of 15/01/06 is $75. I.E the profit that any decent super fund would make a day on a 200k account.