POWERED BY MOMENTUM MEDIA
AustralianSuper app to alert members to unpaid super
AustralianSuper is making a new offering available on its app to help tackle issues of lost super for its customers, launching a new functionality which directly alerts members, flags concerns around underpayment, and limits reliance on the Australian Taxation Office (ATO).
AustralianSuper group executive member experience and advice, Shawn Blackmore said the app had been designed to help stem the issues of people not being paid rightful superannuation entitlements.
“Alerts will pop up on a mobile device saying that your super has been paid. Obviously if you don’t receive an alert it’s a cue to contact payroll to see where your money is,” he said.
“It is really important that people receive what they are entitled to, and with the technology we have it is easier to check your super than ever before.”
Blackmore said the ATO should not be the only source of reliance when it came to identifying issues around super payments, and said the app would allow customers to take control.
“People can take things into their own hands by using the app to track their super, rather than relying on the ATO,” he said.
“[Members] will have the freedom to be able to tailor their investment choice to their own personal preference on their mobile device.”
Additional features added to the functionality of the new app included viewability of super balances and transaction history, access to financial year statements, insurance cover change options, and useability for changing investment options and return preferences.
Recommended for you
Super funds had a “tremendous month” in November, according to new data.
Australia faces a decade of deficits, with the sum of deficits over the next four years expected to overshoot forecasts by $21.8 billion.
APRA has raised an alarm about gaps in how superannuation trustees are managing the risks associated with unlisted assets, after releasing the findings of its latest review.
Compared to how funds were allocated to March this year, industry super funds have slightly decreased their allocation to infrastructure in the six months to September – dropping from 11 per cent to 10.6 per cent, according to the latest APRA data.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.73 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
30.15 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.71 3 y p.a(%)
