POWERED BY MOMENTUM MEDIA
Cost of handling super complaints declines
While some other fees and charges have continued to rise across the superannuation industry, the average cost of dealing with complaints actually decreased last financial year, according to the Superannuation Complaints Tribunal (SCT).
SCT acting chairperson, Jocelyn Furlan used the SCT's annual report to the Parliament to reveal at the average cost per complaint resolved by the body had actually decreased by seven per cent from $2,650 to $2,445.
Furlan said that a total of 1,594 written complaints within the Tribunal's jurisdiction had been resolved or withdrawn — an increase of 26.1 per cent, with the number of conciliation conferences held increasing by 76.4 per cent to 748.
Her report said complaints resolved at review had more than doubled, with 270 complaints being resolved compared to 133 in 2012-13, an increase of 103 per cent.
Recommended for you
Super funds have built on early financial year momentum, as growth funds deliver strong results driven by equities and resilient bonds.
The super fund has announced that Mark Rider will step down from his position of chief investment officer (CIO) after deciding to “semi-retire” from full-time work.
Rest has joined forces with alternative asset manager Blue Owl Capital, co-investing in a real estate trust, with the aim of capitalising on systemic changes in debt financing.
The Future Fund’s CIO Ben Samild has announced his resignation, with his deputy to assume the role of interim CIO.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
76.97 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
76.46 3 y p.a(%)
3
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
51.13 3 y p.a(%)
4
Global X GlobalX FANG+ ETF
45.15 3 y p.a(%)
5
Select Baker steel Gold Institutional
43.78 3 y p.a(%)
