Former Superannuation Complaints Tribunal (SCT) chair, Jocelyn Furlan has returned to the superannuation disputes arena with the formation of a new firm specifically aimed at assisting superannuation trustees with handling member complaints.
The new firm, FM Super Resolutions has been established by Furlan and Pamela McAlister with a view to helping superannuation trustees deal with the disputes in the environment created by the Australian Securities and Investments Commission’s (ASIC’s) Regulatory Guide 271 which introduces user-pays fees for superannuation disputes.
Furlan said she believed that trustees would need to look at RG 271 and review their internal complaints handling processes and procedures to minimise the number of complaints likely to proceed for handling by the Australian Financial Complaints Authority (AFCA).
McAlister is a lawyer and is currently an Australian Financial Complaints Authority (AFCA) panel member.
Introducing a cooling off period in the process of switching super funds or moving money out of the sector could mitigate the potential loss to fraudulent behaviour, the outgoing ASIC Chair said.
Widespread member disengagement is having a detrimental impact on retirement confidence, AMP research has found.
Economists have warned inflation risks remain elevated even as the RBA signals policy is sitting near neutral after its latest hold.
Australia’s superannuation funds are becoming a defining force in shaping the nation’s capital markets, with the corporate watchdog warning that trustees now hold systemic importance on par with banks.