Thousands complain over way super funds handle and pay out death and disability claims

Data from the financial watchdog strongly supports Asic’s claim ‘there is a systemic issue’ across the superannuation sector, advocate saysGet our breaking news email, free app or daily news podcastMore than 5,000 people have lodged complaints with a financial watchdog about how the 10 largest superannuation funds have handled death and group insurance claims over four years.Complaints to the Australian Financial Complaints Authority (Afca) about the entitlements – a lump sum provided to a member’s family when they die – have increased each year since 2020/21. They rose from 921 to 1,048, then 1,459 and 1,611.Sign up for Guardian Australia’s breaking news email Continue reading…



Source link : https://www.theguardian.com/australia-news/2024/nov/19/thousands-complain-over-way-super-funds-handle-and-pay-out-death-and-disability-claims-ntwnfb

Author : Henry Belot

Publish date : 2024-11-19 14:00:13

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