SCT will clear existing case-load

The Superannuation Complaints Tribunal (SCT) has reinforced that it will continue operate to resolve existing complaints even after the Federal Government has established the new Australian Financial Complaints Authority (AFCA).

SCT chair, Helen Davis made clear the tribunal’s focus on fulfilling its mandate in a statement responding to last week’s Budget confirmation that the Government would be moving to establish and single financial services ombudsman in the form of AFCA

Davis said the SCT would continue to work with the government and stakeholders regarding the recommendations and transition considerations to the new arrangements.

Related News:

"The SCT looks forward to continued engagement in the process to ensure continuity of service and a smooth transition from one service to the other, with consumers knowing what to expect,” she said. "A key concern will be to ensure that the new dispute resolution scheme is as strong as it can possibly be for superannuation, with enforceability of determinations, powers to obtain relevant information and maintenance of consumer protection paramount."

Davis said it was proposed that the SCT would continue operating after the introduction of the AFCA to ensure that complaints lodged prior to its introduction are finalised.

"We’d like to reassure our current complainants and anyone thinking of bringing a complaint to us that the SCT is open for business," she said.

 

 




Related Content

Group risk inflows plateau

Group risk inflows have plateaued in the in-force group business market in the year to March 2017 after three years of strong growth in premium inflow...more

Ignition Wealth focuses on SMSF compliance

Ignition Wealth is launching a high compliance self-managed super fund (SMSF) Appropriateness tool for automating the administration of the SMSF appro...more

SG needs recalibration

The superannuation guarantee (SG) needs to be recalibrated to include low income Australians and meet their needs, according to the Association of Sup...more

Author

Comments

Add new comment