Esuperfund Reviews 7

Where do I begin with this shit show? Initially I joined esuperfund because I was promised how easy it was and how they handled alot of the paperwork and accounting on our behalf. I even signed up with their affiliate Digital Surge. About 2 years in , Digital Surge lost 40% of my funds and were drip feeding me payback scheme at like $100 a year which would take me theoretically 80 years to recover from. Ontop of all that when eSuper did my taxes there was blatant issues which they missed and now I have the ATO giving me a free rectal examination. I went in thinking i am paying this platform to "help" manage my super , in reality they've done sweet stuff all but collected a constant stream of money from me and nearly drain my super dry. AVOID AVOID AVOID AVOID

Much to basic provider for more complex SMSFs
Anything slightly out of the ordinary a Canadian company that has gone bankrupt and not accepting a write off. issues with delayed processing of a TD and other audit issues. You can't pick up a phone and talk to someone and they push much of the admin work back to you. I am about to turn on a Pension and I will go to another provider for this. Finally I would note that you have to use their broker CMC markets (with high brokerage rates versus the market) so what you save on fees you lose on brokerage.

Disaster to deal with. Lodged my tax late. Unable to talk to anyone. Stay away!

Consider alternatives

After 6 untroubled years with eSuperfund I had an experience where a bad auditor made a lot of very poor decisions in an audit. They thoroughly failed to substantiate their position on matters where they deviated with other auditors in the prior 5 audits. eSuperfund was unhelpful. They offered to refund the audit fees only if I left the platform. They actually locked my account at one point without request or authority to do so and only reopened and re-engaged after I threatened regulatory action. They repeatedly failed to provide reasonable complaint procedures after repeated requests. They did refund me 2 years of audit fees, and I offered to remain on the platform if they refunded only one year which they refused. I am now exiting the platform which is a blessing really because our SMSF is very simple and easy to manage externally lodging returns ourselves.

Do not trust this company to do your tax correctly.
My latest superannuation taxation done by this company was a complete disaster. They submitted my tax to the tax office incorrectly, I asked them many times to fix it. They refused to look into it or fix their mistakes. Esuper are incompetent and untrustworthy.
Their system is automated without professional accountants and will cost you more than its worth due to the way they operate.
Apart from that they are very slow to complete tax and request further documentation after a couple of months just to delay things( or this is how it appeared).
Also when i went to review the taxation documents (Just prior to being due to the tax office) they sent me, they submitted the completed tax documents to the tax office after i viewed the first page.
I sent several messages to them straight away stating that i have not even seen/reviewed the documents and do not submit to the tax office. After reviewing the documents i sent messages stating they are incorrect, Do Not Submit to the tax office.
They said there was nothing they could do they are sent automatically. (which makes no sense as the documents need to be reviewed by an auditor before being submitted to the tax office.) So from that point it was an absolute nightmare.

They even threated to report me to the tax office for asking questions. (like school kids) Then they said they would no longer act as the accountant for my Fund. (And all i was doing was asking questions)

My business accountant found the issue quickly and we continually tried to show them the issue over months but they refused to look into it and their systems mistakes.

Worst experience i have ever had dealing with a company that is meant to be run by professionals playing with big money.
They are incompetent.

The service, system interface is user friendly and fast response to inquiries. Managing a SMSF is not for everyone and it requires lots of compliance and reporting, in addition to over head cost. E-Super has one of the lowest fees but the overhead for administering was not for me. You would need to pay extra for income protection or insurance in addition to the set annual fee. They were very helpful in winding down my super and assisting me with migrating across to a industry non smsf super.