POWERED BY MOMENTUM MEDIA
Cost of handling super complaints declines
While some other fees and charges have continued to rise across the superannuation industry, the average cost of dealing with complaints actually decreased last financial year, according to the Superannuation Complaints Tribunal (SCT).
SCT acting chairperson, Jocelyn Furlan used the SCT's annual report to the Parliament to reveal at the average cost per complaint resolved by the body had actually decreased by seven per cent from $2,650 to $2,445.
Furlan said that a total of 1,594 written complaints within the Tribunal's jurisdiction had been resolved or withdrawn — an increase of 26.1 per cent, with the number of conciliation conferences held increasing by 76.4 per cent to 748.
Her report said complaints resolved at review had more than doubled, with 270 complaints being resolved compared to 133 in 2012-13, an increase of 103 per cent.
Recommended for you
The research house has offered a silver lining after super fund returns saw the end of a five-month streak last month.
A survey of almost 6,000 fund members has identified weakening retirement confidence, particularly among those under 55 years of age, signalling an opportunity for super funds to better engage with members on their retirement journey.
The funds have confirmed the signing of a successor fund transfer deed, moving closer to creating a new $29 billion entity.
A number of measures, including super on Paid Parental Leave, funding to recover unpaid super, and frameworks to encourage investment in the energy transition, have been welcomed by the superannuation industry.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
66.99 3 y p.a(%)
2
Hills International
59.27 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
32.82 3 y p.a(%)
4
CFS FC Acadian Global Equity Long Short
32.44 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.01 3 y p.a(%)
Add new comment