Complaints around superannuation fund administration continue to dominate the work of the Superannuation Complaints Tribunal (SCT), according to the latest SCT bulletin.
The bulletin, covering the September quarter, revealed that administration complaints comprised the largest category of all written complaints received within the SCT's jurisdiction representing 43.7 per cent, compared to 38.6 per cent in the previous quarter.
The SCT data revealed that death benefit complaints represented the second largest category, standing at 27.6 per cent during the September quarter, down from 34 per cent in the previous quarter.
Disability complaints were the next largest category representing 24.1 per cent of those handled, compared to 22.1 per cent in the previous quarter.
Australian retirees could increase their projected annual incomes between 3 and 51 per cent by incorporating personal and household data into their retirement income strategies, according to new research.
The best interests duty and new class of adviser didn't make the cut for the pre-election DBFO draft bill; however, ASFA has used its submission to outline what it wants to see from the final package.
The peak body stressed that the proposed financial advice reforms should “pass as soon as possible” and has thrown its weight behind super funds providing a greater level of advice.
Economists from the big four banks have all predicted the RBA to deliver another rate cut during its July meeting; however, some admit the decision will be a close call.