Administration remains the major issue for complaints raised with the Superannuation Complaints Tribunal (SCT).
The SCT's latest data covering the September quarter revealed that administration-related complaints represented 42.3 per cent of the matters dealt with by the Tribunal, followed by death benefit complaints (33.9 per cent) and disability complaints (20.2 per cent).
According to the SCT assessment, of the 612 written complaints received by Tribunal during the quarter, 336 (54.9 per cent) complaints were "within jurisdiction".
It said that of the 276 (45.1 per cent) of complaints closed as outside jurisdiction, 177 had been closed because the person complaining had not first lodged a complaint with their superannuation fund or, if they had, the 90 day time limit relating to that lodgment had not expired.
Amid a challenging market environment, three super fund CIOs have warned against ‘jumping at shadows’.
AustralianSuper, Rest, and HESTA agree on the need to retain and enhance the test, yet they differ in their perspectives on the specific areas that warrant further refinement.
Australia’s second-largest super fund has confirmed it is expanding its presence in the UK following significant investment in the region.
A member of the super fund has approached ASIC to investigate potentially misleading or deceptive representations by UniSuper regarding the holdings of its sustainable portfolios.
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