SCT urges better communications
The Superannuation Complaints Tribunal (SCT) has urged fund trustee boards to better educate their members, including targeting mail-outs to so-called 'at risk’ groups.
Discussing the issue in the SCT's latest quarterly bulletin, SCT chair Jocelyn Furlan suggested trustees could potentially reduce complaints by almost 20 per cent by better educating members about insurance entitlements and premiums.
"Interestingly, anecdotal evidence suggests that just as many members complain about unwanted insurance as those who complain that they are not covered, but that would just seem to underline the need for improved communication in this area," she said.
"It seems to the Tribunal that targeted mail-outs to 'at risk' groups, such as part-timers and casuals, or highlighting sections of regular disclosures for these groups, might go some way to reducing the number of complaints that trustees must deal with," Furlan said.
She said another example of an 'at risk' group was defined benefit members approaching retirement.
"It is clear to the Tribunal that these members need to be better informed about the treatment of their benefits from the date their service ceases to the date their benefits are paid or rolled over," Furlan said.
Recommended for you
The super fund’s CEO has confirmed he will finish his role in 2026.
New data shows millions of Australians have little idea how their super funds have performed over the past year.
Small-business advocates have warned the government’s Payday Super timeline risks chaos without more time, cost support, and fair penalties.
Insignia Financial’s Master Trust portfolio has expanded despite net outflows, as positive markets and new product initiatives drive growth.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
215.17 3 y p.a(%)
2
Loftus Peak Global Disruption Fund Hedged
118.15 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
75.00 3 y p.a(%)
4
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
61.11 3 y p.a(%)
5
Global X Ultra Long Nasdaq 100 Complex ETF
60.93 3 y p.a(%)
