ING Living Super: Performance, features and fees
ING Living Super Offers 4 straight-forward managed investment options with low fees and strong past returns.
Key features of ING Living Super
ING Living Super provides several important benefits and features for members:
- Tailored investments. With ING Living Super, you can tailor an investment mix to suit your financial goals and life stage. You can choose from managed investments or a range of individual asset classes.
- Real-time share trading. ING Direct Living Super members can trade shares in real-time online. You can choose from the S&P/ASX 300 index, selected ETFs and listed investment companies.
- Cash Hub. When you open an account, a Cash Hub is automatically established for you. This interest-bearing account is designed to receive income, pay expenses and manage all other transactions for your linked Living Super account.
- Mobile access. You can check your Living Super balance alongside the balances of all your other ING accounts quickly and easily from your smartphone.
- Online access. It's also simple to manage your account online, allowing you to switch investments, trade shares and ETFs, and adjust your level of insurance. You can also rollover and consolidate your super online.
- 24/7 support. ING Direct offers customer support through its 24/7 contact centre, and super specialists are available to provide expert advice and assistance from Monday through to Saturday.
Investment options
Option 1: Pre-mixed managed portfolios
You can choose from 4 pre-mixed managed investment options.
| Investment Option | Risk level | Asset allocation range |
|---|---|---|
Conservative This option is designed to offer a higher return than cash and term deposits with some exposure to growth assets, while still being mostly a defensive portfolio. It's designed for members close to, or in, retirement. | Medium |
|
Moderate This option has a bit more exposure to growth assets than the Conservative option, and is an even split between growth and defensive. It's designed for members who may have a shorter timeframe, but are comfortable taking on a bit more risk. | Medium to High |
|
Growth This option is designed to achieve higher returns over the long term, with the potential for some volatility and negative returns in the short term. It's got a 70% allocation towards growth assets, and designed for members with an investment timeframe of at least 8 years. | High |
|
High Growth This is the highest growth option, with almost 100% allocation towards growth assets. It aims to achieve high long-term returns and is designed for members with a long timeframe (not near retirement). | High |
|
Option 2: Single sector options
If you choose this investment category, you can then access a wide range of single sector investment options, as outlined in the table below.
| Investment option | Asset allocation | Risk level |
|---|---|---|
Australian Shares | This option invests in 100% Australian shares, and aims to match the returns of the S&P/ASX 200 Accumulation Index. | High |
International Shares (Hedged) | This option invests in 100% international shares (hedged), and aims to match the return of the international share market measured by the MSCI World ex-Australia Index, hedged in Australian Dollars. | High |
International Shares | This option invests 100% in international shares, and aims to match the return of the international share market measured by the MSCI World ex-Australia Index. There is no currency hedging. | Very High |
Australian Listed Property | This option invests 100% in Australian listed property, and aims to match the return of the S&P/ASX 200 A-REIT Index. | Medium |
Australian Fixed Interest | This option invests in Australian fixed interest, and aims to match the return of the Bloomberg AusBond Composite Bond Index. | Medium |
International Fixed Interest (Hedged) | This option invests 100% in international fixed interest, and aims to match the return of the Citigroup World Government Bond Index ex-Australia. It's 100% hedged to Australian dollars. | Medium |
What insurance cover is available?
ING Living Super comes with three levels of insurance:
- Automatic cover. A pre-approved level of death and Total and Permanent Disability (TPD) cover is issued when you open an account. You can cancel or upgrade this insurance plan anytime.
- Tailored cover. If you would like a tailored insurance policy to suit you, you may want to consider this cover. You can choose between death, TPD or both.
- Income protection. This is added protection to insure a portion of your income in case you can't work for a period of time due to illness or injury.
Pros and Cons
Pros
- Flexible. With a wide range of investment options to choose from, you can tailor your Living Super account to suit your needs.
- Easy online access. You can easily log into your account online or via mobile 24/7, making it simple and convenient to manage your super.
- Rollover existing super online. It's easy to rollover existing super into your Living Super account online.
- Real-time share trading. The Shares option allows you real-time access to the ASX and increased control over where your super is invested.
Cons
- No ethical option. There is no ethical or sustainable investment option available with Living Super.
- Limited share trading. If you choose the direct share trading option, you can only access shares on the S&P/ASX 200 index as well as selected ETFs and listed investment companies.
How do I apply?
You can sign up for an ING Living Super account in two ways:
- Online. You can fill out an online application form within minutes by clicking the green "Go to Site" button.
- Over the phone. You can phone ING 8am-8pm, Monday to Friday and 9am-5pm Saturday (AEST/AEDT).
To open an account you will need to:
- Be an Australian resident
- Be aged 13 or over
- Have your Tax File Number (TFN) handy
- Choose your investment and insurance options
If you've compared a range of super funds and you're ready to open an ING Living Super account click the green "Go to Site button" on this page to begin the application process.
DISCLAIMER: This article may contain general advice. You should consider your own personal circumstances before deciding if a superannuation product is right for you. Superannuation is a long term investment and past performance is not indicative of future performance.
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Hi, I just transfer my super fund to ING DIRECT. Can I have some advice on how to manage and invest my super fund, especially the smart and select option?
Thanks
Hi Kelly,
Thanks for your question.
Please note that finder.com.au is an online comparison and information service and does not represent ING Direct. This enquiry is best directed to a member of the customer service team at ING Direct, they will able to offer more assistance with this.
Cheers,
Shirley
Hi – I have super with ING. How can i see how it compares to other super funds? Does finder do this? Is ING the only super fund with no fees?
Hi Angela,
Thanks for your question.
You can refer to our comparison of super funds as well as useful details on the types of super funds and the different investment options available.
Cheers,
Shirley
Hi.
I’m thinking about transferring my super to ING.
I may be permanently moving overseas in 5 years & Just wanting to confirm I can withdrawl all savings in my super account at no cost or charge, penalty etc.
Regards,
Grant
Can you give me an idea of the performance of the ING Smart Superannuation for the past year.
Thanks,
John
Hi John,
Thanks for your question.
You can see the investment performance for the Living Super at different time periods by checking useful tips on ING.
Hope this helps,
Shirley
Hi Grant,
Thanks for your question.
There is no charge or penalty to withdraw your super from the Living Super. Please note that there are a number of requirements you’ll need to meet if you intend on accessing your super early.
Cheers,
Shirley
How much super do i have
Hi Vinh,
Thanks for your question.
You’ve come through to finder.com.au, an online comparison service. Please get in touch with ING Direct directly to enquire about how much super you have.
Cheers,
Shirley
Hi there,
I’ve been thinking of moving my super over to ING (I’m an existing ING customer), particularly as I’ve just noticed my super investments are going backwards FYTD.
Can you give me an indication of Living Super performance for the current financial year, particularly in the ‘Smart’ and ‘Select’ investment option categories?
Much appreciated,
Pete.
Hi Pete,
Thanks for your question.
You can review the performance of Living Super on ING’s website. I’ve emailed you a link to the relevant page.
Hope this will help.
Thanks,
Elizabeth