ING Superannuation

ING is a large banking organisation which operates the ING Superannuation Fund, a retail super fund in Australia with over 60,000 members. Membership is open to Australian residents aged over 13 years.

ING Direct

Types of ING super accounts

Living Super

Living Super is the main product available to members. ING members have access to a range of investment options, including: 

  • High growth
  • Growth
  • Moderate
  • Conservative

Some of the other features offered by ING include: 

  • The option to include Death, Total and Permanent Disability (TPD) and Income Protection (IP) insurance provided by MetLife Insurance. As with any insurance product, consider checking the cover amount, any exclusions, limitations or other conditions that may apply, as well as the premiums you would be charged before deciding whether it suits your needs. ING says these insurance products can be tailored to customers’ requirements.
  • The ability to invest your superannuation in an investment theme, including technology, sustainability, healthcare and emerging markets.
  • Online access to your account, where you can check investment progress.

How to join ING’s Living Super

Before committing to a particular fund, consider comparing your options with Canstar and checking out our choosing a super fund checklist. You can also read ING’s Living Super Product Guide, Product Disclosure Statement (PDS) and other disclosure documentation, which could help you decide whether its product offering is suitable for your needs.

If you decide to join ING’s Living Super, you can call ING directly from 8am-8pm Mon-Fri or apply online on ING’s website. 

You must be an Australian resident who is 13 years or older with an Australian address and phone number, and you must provide ID such as your Tax File Number (TFN) to verify your identity. 

Finally, remember to tell your employer that you’ve joined ING Living Super. Your employer should give you a Superannuation Standard Choice Form to fill out, sign and return to them.

Compare Super Funds

ING Superannuation FAQs

ING Living Super is operated by ING and issued by Diversa Trustees Limited.

ING offers a choice of four investment options at the time of writing:

  • High Growth – the High Growth investment option predominantly invests directly or indirectly in Australian and international shares. Investments are allocated as 95% growth assets and 5% defensive assets.
  • Growth – the Growth investment option is allocated as 70% growth assets (including Australian and international shares and Australian listed property) and 30% defensive assets (including cash and Australian fixed interest)..
  • Moderate – this investment profile has funds allocated as 50% growth assets and 50% defensive assets.
  • Conservative – this investment profile has funds allocated as 30% growth assets and 70% defensive assets.

Members are able to invest in one option or mix and match multiple investments. Members are also able to select from particular themes to invest in, including technology, sustainability, healthcare and emerging markets.

ING Living Super also offers 11 managed investment options for members including High Growth, Growth, Moderate, Conservative, Cash Option, International Shares, International shares (hedged), Australian shares, Australian listed property, International fixed interest (hedged) and Australian fixed interest.

You must select at least one investment option when you open an ING Living Super account.

For more details on what each ING Living Super investment option entails, you can contact ING or read the PDS and other documentation on its website.

ING says it offers the ability to invest your super into sustainable ETFs, meaning for example that you can invest in “climate leaders”, or opt to exclude companies that are linked to industries such as fossil fuels, gambling and weapons.

ING charges a variety of fees to its members in return for managing their superannuation savings. At the time of writing, some of its fees include:

  • Investment fees, which may vary from depending on the investment option. At the time of writing, ING says it charges 0.25% per annum on the account balance in managed investments, excluding the cash option.
  • Administration fees of $60 per year ($5 per month).
  • Insurance fees, if you have insurance cover through your super. The cost will depend on the level and amount of cover you have, your age, and the type of work you do, ING says.
  • Brokerage fees apply if you opt to trade shares through your Living Super. At the time of writing, the brokerage fees were $20 or 0.13% per trade (whichever is greater).

Bear in mind that other fees may apply. Consider checking ING’s product disclosure statement (PDS) and other documentation for details. You can also compare the annual fees for ING’s default investment option to other super funds’ fees on Canstar’s database.

To consolidate your super with ING, it says you will need to log into your ING online banking and select your super account. Here you can select ‘Rollover your Super’, then hit ‘Next’ and ‘Continue’ to access the manual form.

You will need the details of the fund you wish to consolidate such as the fund name, Unique Superannuation Identifier (USI) and your member number, which you can find on your super statement.

ING Bank (Australia), which operates ING Living Super, is wholly owned by ING Group. ING Bank also offers transactional banking, home loans, credit cards, personal lending and insurance.

This content was reviewed by Tom Letts as part of our fact-checking process.

Written by: Shay Waraker | Last updated: December 10, 2021