POWERED BY MOMENTUM MEDIA
Administration dominates superannuation complaints
Administration complaints continue to dominate the work of the Superannuation Complaints Tribunal (SCT).
That is the bottom line of the data released by the SCT this week, which revealed that administration complaints accounted for just over 46 per cent of those handled during the June quarter, followed by complaints relating to death benefits, which accounted for 35.9 per cent.
Complaints relating to disability issues accounted for 12.9 per cent of the complaints handled by the SCT.
The SCT data suggested that the number of complaints received rose in line with the manner in which the global financial crisis impacted superannuation returns between late 2007 and early 2009 before tapering off to its present levels.
There is, as yet, no indication from the data on whether the current market volatility will generate a further rise in activity for the SCT.
AUTHOR
Mike Taylor
Recommended for you
Governor Bullock took a more hawkish stance on Tuesday, raising concerns over Trump’s escalating tariffs, which sent economists in different directions with their predictions.
Equity Trustees has announced the appointment of Jocelyn Furlan to the Superannuation Limited (ETSL) and HTFS Nominees Pty Ltd (HTFS) boards, which have oversight of one of the companies’ fastest growing trustee services.
Following growing criticism of the superannuation industry’s influence on capital markets and its increasing exposure to private assets, as well as regulators’ concerns about potential risks to financial stability, ASFA has released new research pushing back on these narratives.
A US-based infrastructure specialist has welcomed the $93 billion fund as a cornerstone investor.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Global X GlobalX FANG+ ETF
33.51 3 y p.a(%)
2
Spire Oaktree Opportunities XI Second Close
32.68 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.62 3 y p.a(%)
4
Spire Oaktree Opportunities XI First Close USD
31.36 3 y p.a(%)
5
Fidante Credit Suisse Global Private Equity
29.60 3 y p.a(%)
