Disputes about superannuation fund administration continue to dominate the work of the Superannuation Complaints Tribunal (SCT).
That is the bottom line of the SCT’s December quarter bulletin, released this week, which revealed administration complaints comprised the largest category of all written complaints, making up exactly half of the work of the Tribunal.
The second largest category was complaints around death which stood at 32.4 per cent of those handled by the SCT, while the disability complaints represented 13.3 per cent o those handled.
The SCT chairperson, Jocelyn Furlan has used the Tribunal’s latest bulletin to announce a restructure of the organisation into three business teams — complaints resolution, legal and business support.
She said the organisation would also be changing its “visual style”.
The Super Members Council has outlined a bold reform plan to boost productivity, lift retirement savings, and unlock super’s full potential.
Women beginning their careers in 2025 could retire with hundreds of thousands of dollars more in super due to the 12 per cent super guarantee rate, HESTA modelling shows.
The two funds have announced the signing of a non-binding MOU to explore a potential merger.
The board must shift its focus from managing inflation to stimulating the economy with the trimmed mean inflation figure edging closer to the 2.5 per cent target, economists have said.