ING Direct Superannuation
What ING Direct Living Super offers
The inclusions below represent a selection of what is covered. Additional conditions may apply to different features. CANSTAR is not making any suggestion or recommendation to you about this product. Please ensure that you read the product disclosure statement to determine all the current policy options and inclusions for the product you are considering.
ING Direct Living Super
- Direct investments in Australian shares available within super.
- Term deposits available within super.
- Unlimited free investment switches.
- Life insurance, TPD insurance, and income protection insurance available within super.
- Online access to account details.
- Financial advice available.
How to join ING Direct Super
You can sign up for an ING Direct super account online by clicking on the ING Direct super product of your choice in our Canstar superannuation comparison tables. ING Direct says it only takes 5 minutes to join online.
Keep our tips in mind for how to choose a super fund, and always read the product disclosure statement (PDS) before you sign up for any superannuation product.
Remember to consider consolidating all of your super savings into one account. Find out how to find your lost super and how to consolidate your super. Before consolidating, check what insurances you have with each fund. Moving super from one fund to another could mean you lose some insurances, some of which you might not have known about but could really find handy if something were to happen to you.
Finally, tell your employer that you’ve joined ING Direct Super. Your employer will give you a choice of super fund form that you will need to sign and return to them.
How do the fees on ING Direct Super compare to other funds?
The table above shows the total fee cost to have an ING Direct super account per year. Compare these fees to the average super fund fees on our database.
Does ING Direct Super offer an ethical investment option?
At the time of writing, ING Direct Super does not offer a super account with a specific ethical investment option.
How can I track the growth of my ING Direct Super account?
Members can track and manage the growth of their super account through ING Direct online banking, or using ING Direct’s award-winning mobile banking app. Members can also find out the current balance of their super account in their annual statement, or by calling ING Direct on 13 34 64 (open 24/7).
What should I check on my ING Direct Super statement?
Be sure to check these 9 things on your superannuation statement:
- Personal details are up-to-date
- Nominated beneficiaries are up-to-date
- Tax File Number (TFN) is recorded
- Super contributions from employer and/or your voluntary contributions are correct
- Investment asset class choices are appropriate for your life stage
- Amount paid in fees
- Insurance still adequate
- Super is consolidated, after checking whether there is insurance or any other benefits attached to the account you may lose and you’re comfortable to do so
- The big picture – are you happy with your super fund overall?
When can I access my ING Direct Super?
You can access your super at age 65, but it could be earlier at what’s known as your preservation age, which can be from 55 years up to 60 years depending on what year you were born. To access your super, typically you need to have permanently decided to stop working, or have left an employer after turning 60. Earlier access to your super is possible in certain circumstances, such as:
- If your home is being repossessed
- Cases of severe financial hardship
- On compassionate grounds if you or your dependant is diagnosed with a terminal illness needing palliative care, or if you are temporarily or permanently unable to work or need to work less hours due to a physical or mental medical condition, or if you are disabled and need to modify your home or car to meet your needs, or if you need help to pay for the funeral expenses of a dependant
- If your super balance is less than $200
Can I get the Age Pension as well as ING Direct Super?
You may be able to receive a full or part-pension from Centrelink depending on your level of assets (including super and account-based pension balance) and income (including from any account-based pension you may have and how much income your super is assumed to be able to pay you).Find out how the Age Pension works and how much you can receive in super before your pension is affected.
About ING Direct
The ING Group was founded in 1991 in a merger between the international banks Nationale-Nederlanden and NMB Postbank Group. The two original companies and the insurance companies behind ING all had a lion in their logo – and the lion has survived to be a part of today’s orange logo.
ING Direct says they were Australia’s first direct bank (an online and telephone only bank without any branches). Today, they are the largest mortgage lender outside of Australia’s big four banks, with 1.5 million customers.
ING Direct is the trading name of ING Bank (Australia) and received its Australian banking licence in 1999. ING Direct provides a job for over 1,000 Aussies, with headquarters in Sydney and a 24/7, Australia-based customer call centre in Tuggerah.
ING’s online magazine ing.world regularly features fascinating insights into global trends that are worth a read.
You’ve probably seen ING Direct’s hilarious ads on TV with brand ambassador Isla Fisher, like the one about the red hair and the one about shouting. Their YouTube channel also features the educational super series, ‘Talking Super with Tim Hewson’.
ING Direct supports the community through an empowerment approach. In 2015, they invested more than $250,000 in start-up social enterprises via their Dreamstarter crowdfunding platform, run in partnership with StartSomeGood and the School for Social Entrepreneurs. Since its launch, Dreamstarter had raised more than $600,000 as of the 2015 Sustatinability Report.
Almost 40% of ING Direct staff members volunteered time, skills, and expertise to community partners in 2015. ING Direct was also the top corporate fundraiser in the Steptember fundraising campaign for the Cerebral Palsy Alliance, raising $127,000 for this cause.
ING Direct protects our environment in several ways. Since November 2015, they have stopped financing any new coal-fired power plants or thermal coal mines. The company has been carbon neutral since 2007 and are committed to running on 100% renewable energy by 2020 (RE100 initiative). ING Direct also invests in Australian windfarm projects that have already saved approximately 1.5 million tonnes of greenhouse gases per year.
This information has been prepared without taking into account your individual investment objectives, financial circumstances or needs. Before you decide whether or not to acquire a particular financial product you should assess whether it is appropriate for you in the light of your own personal circumstances, having regard to your own objectives, financial situation and needs. You may wish to obtain financial advice from a suitably qualified adviser before making any decision to acquire a financial product. CANSTAR provides information about superannuation products. It is not a superannuation provider and in giving you information it is not making any suggestion or recommendation to you about a particular credit product. Please refer to CANSTAR’s FSG for more information.