Former Superannuation Complaints Tribunal (SCT) chair, Jocelyn Furlan has returned to the superannuation disputes arena with the formation of a new firm specifically aimed at assisting superannuation trustees with handling member complaints.
The new firm, FM Super Resolutions has been established by Furlan and Pamela McAlister with a view to helping superannuation trustees deal with the disputes in the environment created by the Australian Securities and Investments Commission’s (ASIC’s) Regulatory Guide 271 which introduces user-pays fees for superannuation disputes.
Furlan said she believed that trustees would need to look at RG 271 and review their internal complaints handling processes and procedures to minimise the number of complaints likely to proceed for handling by the Australian Financial Complaints Authority (AFCA).
McAlister is a lawyer and is currently an Australian Financial Complaints Authority (AFCA) panel member.
The Future Fund’s CIO Ben Samild has announced his resignation, with his deputy to assume the role of interim CIO.
The fund has unveiled reforms to streamline death benefit payments, cut processing times, and reduce complexity.
A ratings firm has placed more prominence on governance in its fund ratings, highlighting that it’s not just about how much money a fund makes today, but whether the people running it are trustworthy, disciplined, and able to deliver for members in the future.
AMP has reached an agreement in principle to settle a landmark class action over fees charged to members of its superannuation funds, with $120 million earmarked for affected members.