ING Living Super Account review

A simple and straightforward online super solution with competitive fees.

If you’re looking for an easy-to-manage online super account with a range of investment options, ING Living Super is well worth a closer look. With competitive fees and a variety of insurance solutions, Living Super gives you the flexibility to choose an investment portfolio that suits both your life stage and your tolerance for risk.

Read on for more details of what ING Living Super offers to its members to find out whether it could be the right super solution for your retirement.

  • Choose from four investment options
  • Invest in other Living Super investment classes
  • Earn interest on your SMSF balance

Key features

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, term deposits and real-time share and exchange-traded funds (ETFs).
  • 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 also 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

ING Living Super investment options are split into four distinct categories: Safe, Smart, Select and Shares.

Option 1: Safe

If you choose this option, your super balance is invested in cash and term deposits held with ING. The table below outlines the investment options available in this category:

Investment OptionAsset allocationRisk levelBenchmark
Cash HubInvests your balance 100% in cash to provide security and a regular incomeVery lowRBA cash rate less 0.75% p.a.
Cash OptionInvests 100% of your balance in cash to provide a regular income and security of capitalVery lowRBA cash rate
Term DepositsInvests in wholesale term deposits to provide stable returns with minimum risk. Choose from 3-month, 6-month, 1-year and 2-year optionsVery lowN/A

Option 2: Smart

This is a balanced investment option focused on delivering medium- to long-term capital growth.

Investment optionAsset allocationRisk levelPast 5-year performance
BalancedYour funds are invested in a diversified portfolio with a large percentage of shares and cash, but that also features fixed interest and listed property.High7.49% p.a.

Option 3: Select

If you choose the Select investment category, you can then access a wide range of managed investment options, as outlined in the table below.

Investment optionAsset allocationRisk levelPast 5-year performance
GrowthAims to provide long-term capital growth and income built into the unit priceHigh9.42% p.a.
High GrowthAims to provide an even higher level of long-term capital growth and income built into the unit priceHigh12.44% p.a.
Australian SharesAims to match the returns of the S&P/ASX 200 Accumulation IndexHigh10.19% p.a.
International Shares (Hedged)Aims to match the return of the international share market measured by the MSCI World ex-Australia Index, hedged in Australian DollarsHigh13.32% p.a.
International SharesAims to match the return of the international share market measured by the MSCI World ex-Australia IndexVery High15.59% p.a.
Australian Listed PropertyAims to match the return of the S&P/ASX 200 A-REIT IndexMedium11.63% p.a.
Australian Fixed InterestAims to match the return of the Bloomberg AusBond Composite Bond IndexMedium3.09% p.a.
International Fixed Interest (Hedged)Aims to match the return of the Citigroup World Government Bond Index ex-Australia, 100% hedged to Australian dollarsMedium3.92% p.a.

Option 4: Shares

If you select this investment option, you can trade direct shares and ETFs on the ASX.

Investment OptionAsset allocationRisk levelBenchmark
Direct SharesProvides you with direct access to the S&P/ASX 200 and to selected ETFs and listed investment companies on the ASXVery highN/A

*All investment performance correct as of 30 September 2017. Past performance is not indicative of future performance.

Fees

Before deciding whether ING Direct Living Super is right for you, make sure you’re aware of any fees that apply. Fees vary depending on the investment category you select, as outlined below.

Safe

  • Administration fee: $60 p.a. charged at $5 per month, plus Operational Risk Financial Requirement fee of 0.03-0.14%
  • Investment fee: Nil
  • Indirect cost ratio: Nil

Smart

  • Administration fee: $60 p.a. charged at $5 per month, plus an administration fee of 0.64% p.a. of your account balance in the Smart category
  • Investment fee: 0.25% p.a. of Smart category account balance
  • Buy/sell spread: 0.06-0.07%
  • Indirect cost ratio: 0.01% p.a.

Select

  • Administration fee: $60 p.a. charged at $5 per month, plus an administration fee of 0.64% p.a. of your account balance in the Select category
  • Investment fee: 0.25% p.a. of Select category account balance
  • Buy/sell spread: 0.07-0.13%
  • Indirect cost ratio: Ranges from nil to 0.08% p.a. depending on investment option chosen

Shares

  • Administration fee: $60 p.a. charged at $5 per month, plus an administration fee of 0.64% p.a. of your account balance in the Shares category
  • Brokerage: $20 or 0.13% per trade (whichever is greater)
  • Indirect cost ratio: Nil
  • Premium market research (optional): $20 per month

Insurance

ING Direct 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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40 Responses

  1. Default Gravatar
    goldfishMay 22, 2016

    Is it possible to transfer shares held in a personal account into a living super instead of cash .

    • Staff
      ShirleyMay 24, 2016Staff

      Hi Goldfish,

      Thanks for your question.

      If you are looking at share trading within Living Super you would not be able to transfer (in specie) directly to your Living Super account any shares held externally. The shares would need to be sold and converted to cash and then deposited into super.

      Please be mindful of contribution caps when depositing to super. The concessional cap for 2015/16 is $30,000. For those aged 49 or over before the start of the financial year the concessional cap is increased to $35,000. Anything over this amount effective 3/5/2016 there is lifetime cap $500,000.00 for non-concessional contributions.

      Hope this helps.

  2. Default Gravatar
    damienDecember 3, 2015

    I am an Australian living overseas and may return next year and am interested in consolidating my super with ing. It says only Australian residents and wanted to check your definition of this!

    thanks

    • Staff
      ShirleyDecember 3, 2015Staff

      Hi Damien,

      Thanks for your question.

      An Australian resident is a person who is living in Australia and is either: an Australian citizen, a permanent visa holder, or a protected Special Category Visa (SCV) holder.

      Hope this helps,
      Shirley

  3. Default Gravatar
    StephenJuly 28, 2015

    Id like to roll my funds across to Australian Super please.

    • Staff
      JodieJuly 28, 2015Staff

      Hi Stephen,

      Thank you for your comment.

      You have come through to finder.com.au, a financial comparison website, not ING, please click on one of the “Open” buttons above to be taken to the ING website where you will be able to contact ING directly and discuss your needs with them.

      Regards
      Jodie

  4. Default Gravatar
    MichaelJuly 17, 2015

    I have 3 super funds each with existing life insurance products (life, TPD & income protection), can I roll them in to the ING product and keep the total existing level of cover in the combined accounts.

    • Staff
      BelindaJuly 22, 2015Staff

      Hi Michael,

      Thanks for your enquiry.

      It may be possible for you to request a transfer and roll your existing super funds into the ING Direct Living Super account.

      You’ll need to download a transfer form on the ING Direct website and provide your most recent statements of insurance (within the past 12 months).

      Please note that there is a maximum of $20 000 for income protection and $2 million for death and TPD.

      If you have any further enquiries about the transfer, please contact ING Direct.

      Thanks,
      Belinda

  5. Default Gravatar
    JulieMarch 27, 2015

    PLEASE ADVISE WHETHER UK PENSION TRANSFERS ARE PERMITTED INTO THE ING DIRECT LIVING SUPER (ETFs. I NOTICED THAT ING CORPORATE SUPER APPEARS TO BE ON THE LIST BUT NOT ING DIRECT L.S. ?
    THANKS

    • Staff
      ShirleyMarch 30, 2015Staff

      Hi Julie,

      Thanks for your question.

      Unfortunately the ING Direct Living Super account is unable to accept transfers from UK pension funds at this time.

      Cheers,
      Shirley

    • Default Gravatar
      GrantApril 3, 2015

      Are you planning to become registered such that we can transfer UK Pension funds to ING?

    • Staff
      ShirleyApril 7, 2015Staff

      Hi Grant,

      Thanks for your question.

      Please note that finder.com.au is an online comparison service and does not represent ING Direct. For a more accurate response, please speak to ING Direct.

      Cheers,
      Shirley

  6. Default Gravatar
    KellyMarch 17, 2015

    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

    • Staff
      ShirleyMarch 18, 2015Staff

      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

  7. Default Gravatar
    ANGELAFebruary 15, 2015

    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?

    • Staff
      ShirleyFebruary 16, 2015Staff

      Hi Angela,

      Thanks for your question.

      Unfortunately at this current point in time we don’t offer a comparison of super funds. You can find some more information about your super on this page, as well as other resources available online and offline.

      There are other super funds in the market with no fees.

      Cheers,
      Shirley

  8. Default Gravatar
    GrantJanuary 27, 2015

    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

    • Default Gravatar
      JohnFebruary 14, 2015

      Can you give me an idea of the performance of the ING Smart Superannuation for the past year.
      Thanks,
      John

    • Staff
      ShirleyFebruary 16, 2015Staff

      Hi John,

      Thanks for your question.

      You can see the investment performance for the Living Super at different time periods by clicking on this link.

      Hope this helps,
      Shirley

    • Staff
      ShirleyJanuary 28, 2015Staff

      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

  9. Default Gravatar
    vinhJanuary 14, 2015

    How much super do i have

    • Staff
      ShirleyJanuary 14, 2015Staff

      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

  10. Default Gravatar
    PeteOctober 16, 2014

    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.

    • Staff
      ElizabethOctober 16, 2014Staff

      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

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