Administration complaints dominated written complaints received by the Superannuation Complaints Tribunal (SCT) in the April quarter.
The latest SCT bulletin showed administration complaints made up 38.6 per cent of complaints received within jurisdiction, down from 41.9 per cent in the last quarter.
Death benefit complains came second at 34 per cent, up from 31.6 per cent in the last quarter, followed by disability at 22.1 per cent, up from 21.9 per cent in the last quarter.
The Tribunal received 657 written complaints in the quarter, up from 628 in the last quarter.
Of those, 376 were within jurisdiction while 281 were outside jurisdiction.
The proposed reforms have been described as a key step towards delivering better products and retirement experiences for members, with many noting financial advice remains the “urgent missing piece” of the puzzle.
APRA’s latest data has revealed that superannuation funds spent $1.3 billion on advice fees, with the vast majority sent to external financial advisers.
Cbus Super has unveiled Advice Essentials Plus, a new service offering affordable financial advice to both members and their partners.
The fund has launched a new tool to help deliver personalised financial education and digital personal advice to eligible members.