PYSP communication divides opinion

Industry opinion about how effectively the Protecting Your Super reforms were communicated is mixed, according to Financial Standard's recent spot poll.

We sought to find out if trustees communicated the PYSP legislation in a clear, timely and effective manner after finding that superannuation fund contact centres are being bombarded with member queries.

The survey divided respondents as 47% equally believed communication was effective, while the same number said super funds could have done better to inform members.

A few days after the July 1 implementation deadline changes, a host of super funds were struggling with the member queries coming through the phone lines.

AustralianSuper, Australian Ethical, Australia Post Superannuation Scheme, CareSuper, Cbus, Christian Super, First State Super, HESTA, Hostplus, LUCRF Super, Media Super, NGS Super, Prime Super, Rest, TelstraSuper and VicSuper are some of the super funds that have expressed apologies to members unable to reach their contact centres.

The super funds have alerted members in a similar vein on their websites, stating they are experiencing high call volumes and that wait times will be longer than expected as a result of the July 1 reforms.

This week, we want to know how the first sitting of the FASEA exam went.

Read more: Financial StandardAustralian EthicalFirst State SuperHESTAHostplusLUCRF SuperMedia SuperNGS SuperPrime SuperTelstraSuperVicSuper
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