The (SCT) has warned trustees they need to be more vigilant in ensuring fund members are appropriately informed about the consequences of changing employment, particularly where insurance coverage is concerned.
Chairman of the SCT used the tribunal’s quarterly newsletter to tell trustees that while employees have an obligation to keep themselves informed, trustees also have to ensure they have clearly and unequivocally notified members of their responsibility to provide employment change notification and the consequences of changing employment.
He said that in its scrutiny of complaints relating to such issues, the tribunal would be looking to ensure trustees have met their obligations.
The SCT newsletter also revealed that the tribunal had received 498 new complaints in the March quarter, with the bulk of these relating to death benefits.
However, it said complaints about disability benefits accounted for most of all open cases, followed by those relating to death benefits and then those relating to general administration.
Following the roundtable, the Treasurer said the government plans to review the superannuation performance test, stressing that the review does not signal its abolition.
The Australian Prudential Regulation Authority (APRA) has placed superannuation front and centre in its 2025-26 corporate plan, signalling a period of intensified scrutiny over fund expenditure, governance and member outcomes.
Australian Retirement Trust (ART) has become a substantial shareholder in Tabcorp, taking a stake of just over 5 per cent in the gaming and wagering company.
AustralianSuper CEO Paul Schroder has said the fund will stay globally diversified but could tip more money into Australia if governments speed up decisions and provide clearer, long-term settings – warning any mandated local investment quota would be “a disaster”.