Administration complaints have continued to dominate the work of the Superannuation Complaints Tribunal (SCT).
According to the latest data released by the SCT for the March quarter, administration complaints made up 43.5 per cent of those received by the commission, down slightly from the previous quarter (44.2 per cent).
The second largest number of complaints received by the SCT related to death benefits which accounted for 29.7 per cent of those received, followed by disability complaints (20.8 per cent).
Disability was the only category to record a rise during the quarter, up from 17.8 per cent.
Australia’s second-largest super fund has confirmed it is expanding its presence in the UK following significant investment in the region.
A member of the super fund has approached ASIC to investigate potentially misleading or deceptive representations by UniSuper regarding the holdings of its sustainable portfolios.
The median growth fund delivered 1.9 per cent in March, adding to the “stunning” rally that has seen super funds gain 11 per cent since November.
Vanguard has affirmed its support for the current super performance test, emphasising the importance of keeping the process straightforward.
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