POWERED BY MOMENTUM MEDIA
Admin complaints dominate SCT work
Administration complaints dominated written complaints received by the Superannuation Complaints Tribunal (SCT) in the April quarter.
The latest SCT bulletin showed administration complaints made up 38.6 per cent of complaints received within jurisdiction, down from 41.9 per cent in the last quarter.
Death benefit complains came second at 34 per cent, up from 31.6 per cent in the last quarter, followed by disability at 22.1 per cent, up from 21.9 per cent in the last quarter.
The Tribunal received 657 written complaints in the quarter, up from 628 in the last quarter.
Of those, 376 were within jurisdiction while 281 were outside jurisdiction.
Recommended for you
While the Financial Advice Association Australia said it supports a performance testing regime “in principle”, it holds reservations about expanding this scope to retirement products.
In a Senate submission, the Financial Services Council said super funds should be able to nudge members on engaging with their super and has cautioned against default placements.
The Joint Associations Working Group, which counts FSC in its ranks, has issued an urgent warning to the government.
Senator Jane Hume will join the speaker lineup at the inaugural Australian Wealth Management Summit.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
66.99 3 y p.a(%)
2
Hills International
63.66 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
36.33 3 y p.a(%)
4
CFS FC Acadian Global Equity Long Short
35.96 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.23 3 y p.a(%)
Add new comment