Admin issues top AFCA complaints

Not unlike the experience of the Superannuation Complaints Tribunal (SCT) the majority of complaints dealt with by the Australian Financial Complaints Authority (AFCA) have been around account administration.

The latest data released by the AFCA reveals that account administration headed the list of issues dealt with at 49.7%, followed by group life insurance issues (37.6%) and superannuation death benefits distribution at 11.3%.

The AFCA data pointed to 2,220 superannuation complaints having been progressed, with 1,813 having been closed for the period.

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Hardly surprisingly, the larger the organisation the more complaints it appeared to receive, with AustralianSuper topping the list, followed by REST, then AMP Super, Nulis Nominees and BT Funds Management.




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