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ING Living Super: Performance, features and fees

Tim Falk
Tim Falk

An online superannuation fund with lot of different investment options, including direct share trading.

ING Living Super is an online super account with a range of different investment options to choose between. Members have the flexibility to choose an investment portfolio that suits both their life stage and tolerance for risk.

8.54%

Past performance - 1 year

7.81%

Past performance - 5 Years

$510

Calculated fees p.a. on $50,000 balance

Details

Name ING Living Super - Growth
Past 5 year performance 7.81%
Annual admin fee
$60 + 0.5% of balance p.a.
Calculated fees on 50K $510
Insurance included Death, TPD
Number of members 61,000

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

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

What fees does ING Living Super charge?

Each investment option charges slightly different fees. Here's the annual fees for the Living Super Growth option, assuming you had a balance of $50,000.

Admin fees: $60 plus 0.5% of balance.

Investment fees and indirect costs: 0.26% of balance

Calculated annual fees on $50,000: $510

What insurance cover is available?

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 Comments

  1. Default Gravatar
    goldfish
    May 22, 2016

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

    Reply
    • Avatarfinder Customer Care
      Shirley
      May 24, 2016

      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.

      Reply
  2. Default Gravatar
    damien
    December 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

    Reply
    • Avatarfinder Customer Care
      Shirley
      December 3, 2015

      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

      Reply
  3. Default Gravatar
    Stephen
    July 28, 2015

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

    Reply
    • Default Gravatar
      Jodie
      July 28, 2015

      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

      Reply
  4. Default Gravatar
    Michael
    July 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.

    Reply
    • Avatarfinder Customer Care
      Belinda
      July 22, 2015

      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

      Reply
  5. Default Gravatar
    Julie
    March 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

    Reply
    • Avatarfinder Customer Care
      Shirley
      March 30, 2015

      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

      Reply
    • Default Gravatar
      Grant
      April 3, 2015

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

      Reply
    • Avatarfinder Customer Care
      Shirley
      April 7, 2015

      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

      Reply
  6. Default Gravatar
    Kelly
    March 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

    Reply
    • Avatarfinder Customer Care
      Shirley
      March 18, 2015

      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

      Reply
  7. Default Gravatar
    ANGELA
    February 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?

    Reply
    • Avatarfinder Customer Care
      Shirley
      February 16, 2015

      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

      Reply
  8. Default Gravatar
    Grant
    January 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

    Reply
    • Default Gravatar
      John
      February 14, 2015

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

      Reply
    • Avatarfinder Customer Care
      Shirley
      February 16, 2015

      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

      Reply
    • Avatarfinder Customer Care
      Shirley
      January 28, 2015

      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

      Reply
  9. Default Gravatar
    vinh
    January 14, 2015

    How much super do i have

    Reply
    • Avatarfinder Customer Care
      Shirley
      January 14, 2015

      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

      Reply
  10. Default Gravatar
    Pete
    October 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.

    Reply
    • Avatarfinder Customer Care
      Elizabeth
      October 16, 2014

      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

      Reply
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