Financial Standard Comments - CSSA: MySuper puts corporate super insurance at risk There is a fundamental flaw in the assumptions being made by Treasury regarding what happens to a member's benefits when they leave a corporate super fund, according to the Corporate Super Specialist Alliance. https://www.financialstandard.com.au/feed/latest?story=12915753 Fri, 18 May 2012 13:38:54 +1000 Fri, 18 May 2012 13:38:54 +1000 en-AU Copyright 2026 Financial Standard 5 Comment by Advisor () The questions that should be asked are:
1. Since Choice, what has happened to auto acceptance levels ? and, following upon that,
2. Surely MySuper plans should give the transferees time to decide on how to deal with their cover options before leaving the members and their dependants to suffer the consequences of legislation ? and then,
3. What about Tpd and salary Continuance benefits ?
Similar questions should have been asked of the funds who paid for advertisements that encouraged members to switch and lose all of their risk benefits without advice, simply to save a membership fee or two ?
Why not ask another question of the widows/ers and orphans of those whose loved ones have become disabled or died, what demands they would like to make becuase of the benefits they have lost ?

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]]> Advisor () Fri, 18 May 2012 13:38:54 +1000 Comment by Andrew () Opting in to MySuper makes total sense as it would then place the consequences of doing so on the member and there is nothing wrong with that.

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]]> Andrew () Fri, 18 May 2012 15:18:04 +1000