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SCT warns on employment change
The Superannuation Complaints Tribunal (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 Graham McDonald 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.
AUTHOR
Mike Taylor
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