The Superannuation Complaints Tribunal is dealing with fewer complaints, but more of them deal with administration issues, according to the tribunal’s latest quarterly bulletin.
The bulletin reveals that the number of written complaints received by the tribunal fell by 2.8 per cent when compared to the previous quarter, but that the number of complaints relating to fund administration as a percentage of all complaints continued to rise, representing 64.7 per cent of all complaints.
It said complaints relating to death benefit distributions had also increased slightly to 24.1 per cent of all complaints, while complaints about disability benefits comprised 8.7 per cent of all complaints received.
The bulletin said utilising conciliation, the tribunal had achieved a settlement rate of 72.6 per cent.
Rest Super remains “fully committed” to equities, even as it anticipates higher market volatility than experienced in previous decades.
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Hostplus’ MySuper Balanced option delivered significantly stronger returns in 2024–25, bouncing back from the previous year when its cautious stance on listed markets came at a cost to members.