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Jocelyn Furlan
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Death benefit and administration complaints continue to dominate the matters handled by the Superannuation Complaints Tribunal (SCT).
According to the SCT’s data for the September quarter, complaints about administration represented 50 per cent of all complaints received, while those relating to death benefits represented 34.3 per cent of all complaints.
According to the SCT chairperson, Jocelyn Furlan, complaints related to disability benefits increased to 11.4 per cent during the quarter.
The SCT data revealed that the tribunal finalised 575 written complaints, representing a 9.1 per cent increase over the previous quarter, with the number of cases dealt with via conciliation increasing by 11.2 per cent to 149.
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.
ASIC chair Joe Longo says superannuation trustees must do more to protect members from misconduct and high-risk schemes.
Super fund mergers are rising, but poor planning during successor fund transfers has left members and employers exposed to serious risks.