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Chasing the super ambulance
On the subject of the Superannuation Complaints Tribunal, Rollover remains amazed by the number of lawyers continuing to target superannuation disputes as a revenue stream.
Even as your ageing correspondent was enjoying his Christmas break on the NSW north coast, he noted the number of television advertisements funded by law firms suggesting that only a lawyer could get justice for aggrieved superannuation fund members.
Given the size of those law firms and the backgrounds of their legal teams, he wondered whether he might be witnesses some mis-selling but concluded that his concerns could only be resolved in a court of law so¬..
He notes that the SCT is free to those superannuation fund members who actually appropriately access its services, and that not one of the television advertisements he viewed suggested that members should only seek legal counsel after first exhausting the processes of the SCT.
Given the workloads of the courts and the cost of litigation, Rollover is surprised that the same consumer groups who have pursued financial planners and insurers have not jumped on the issue.
AUTHOR
The Rollover
Rollover is a jaded hack who joined the staff of Super Review nearly two decades’ ago and never managed to summon the energy to leave. Known throughout the superannuation industry as a power-luncher and gossip, Rollover spends his time humouring fund managers, eavesdropping at conferences, dozing through briefings and looking for his next free meal.
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