POWERED BY MOMENTUM MEDIA
Longer time-frames for TPD claims
People will have longer to file complaints relating to Total and Permanent Disablement (TPD) claims with the Superannuation Complaints Tribunal (SCT) under changes flowing from the implementation of the former Labor Government's Stronger Super legislation.
The SCT has confirmed that the new time limits will apply with respect to TPD claims made on or after 1 July, this year.
The change effectively sees TPD claim time-frames doubled from two to four years.
The SCT made clear that it was not able to deal with a complaint about a fund trustee's decisions unless a complaint was first made under the fund's own complaint handling arrangements.
"For both sets of time limits, the relevant date is the date your employment is formally terminated, rather than the last day you are able to work," it said.
Recommended for you
The insurance company has joined this year’s awards as a principal partner.
The $135 billion fund has transitioned away from TAL Life Insurance following an “extensive tender process”.
The $80 billion fund is facing legal action over allegedly signing up new members to income protection insurance by default without active member consent.
In a Senate submission, the Financial Services Council has once again called for further clarification that the government will assess the consumer outcomes of group insurance against the enshrined objective of superannuation.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
93.34 3 y p.a(%)
2
Global X GlobalX FANG+ ETF
36.96 3 y p.a(%)
3
GAM LSA Private Shares AU I
34.22 3 y p.a(%)
4
VanEck Video Gaming and eSports ETF (AU)
28.89 3 y p.a(%)
5
Plato Global Alpha A
28.83 3 y p.a(%)
