Death benefits continue to make up the bulk of complaints being handled by the SuperannuationComplaints Tribunal (SCT), according to its latest bulletin.
The SCT bulletin, covering the December quarter of last year, revealed that it received 579 new complaints, representing an increase of 8 per cent, with those relating to death benefits amounting to 23.3 per cent.
The next most frequent complaint received by the SCT related to general administration, representing 20.3 per cent of matters dealt with by the SCT, with disability benefits representing 13.6 per cent.
According to the SCT data, October and November represented two of the busiest months for the tribunal, with 218 written complaints being received in October and 220 in November.
The super fund has significantly grown its membership following the inclusion of Zurich’s OneCare Super policyholders.
Super balances have continued to rise in August, with research showing Australian funds have maintained strong momentum, delivering steady gains for members.
Australian Retirement Trust and State Street Investment Management have entered a partnership to deliver global investment insights and practice strategies to Australian advisers.
CPA Australia is pressing the federal government to impose stricter rules on the naming and marketing of managed investment and superannuation products that claim to be “sustainable”, “ethical”, or “responsible”, warning that vague or untested claims are leaving investors exposed.