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Admin complaints dominate SCT work
Administration complaints dominated those handled by the Superannuation Complaints Tribunal (SCT) in the March quarter.
The latest SCT bulletin, released this month, revealed that administration complaints comprised the largest category of all written complaints received within the SCT’s jurisdiction, representing 41.9 per cent, compared to 40.9 per cent in the previous quarter.
The next largest area of complaints received by the SCT related to death benefits, which represented 31.6 per cent, while those related to disability ran third with 21.9 per cent.
The SCT chair, Jocelyn Furlan said the Tribunal finalised 692 written complaints in the March quarter, an increase of 5.3 per cent compared to the previous quarter and that of those 9.7 per cent were finalised at review, with 51.7 per cent finalised at the inquiry and conciliation stage.
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Superannuation funds will have two options for charging fees for the advice provided by the new class of adviser.
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