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Showing 91 - 100 of 1001 results for "Death"

Paying more fees doesn't speed up superannuation death benefit payouts

ANDREW MCKEAN  |  THURSDAY, 10 APR 2025
Paying higher superannuation fees doesn't equate to getting death benefits paid out faster, according to research by Super Consumers Australia (SCA). In the wake of a review by ASIC into death benefit claims handling practices of superannuation trustees ...

ASIC asks for input on reportable situations, IDR dashboards

JAMIE WILLIAMSON  |  THURSDAY, 10 APR 2025
... as a remedy. The top three products for superannuation complaints were superannuation account (73%), pension (11%), and death benefit (5%). The top three issues were service-related issues (26%), delay in following instructions (12%), and technical problems ...

Life insurers keep breaking their own rules: Report

ANDREW MCKEAN  |  TUESDAY, 1 APR 2025
... claims within the Code's required timeframes compared with the previous year. The report highlighted that the number of death claims taking longer than a year to resolve increased 24%, from 116 to 144. While representing only a small portion of total ...

Not one trustee tracked end-to-end claims handling times: ASIC

ANDREW MCKEAN  |  MONDAY, 31 MAR 2025
A review of major superannuation trustees by ASIC found that not even one monitored or reported on the full process of death benefit claims handling. The review of superannuation trustees including, Australian Retirement Trust, Avanteos (Colonial First ...

Insurance in super remains a mystery to millions of Australians

ANDREW MCKEAN  |  FRIDAY, 28 MAR 2025
... in risky occupations. According to modelling by the Productivity Commission, a low-income, blue-collar worker paying for death, total and permanent disability (TPD), and income protection insurance could retire with $85,000 - or 14% less - than if they ...

ASIC, ASFA spar over super fund trustees 'not knowing' their business

ANDREW MCKEAN  |  THURSDAY, 13 MAR 2025
... Directors Australian Governance Summit, Longo pointed to AustralianSuper's alleged delayed processing of nearly 7000 death benefit claims and its failure to merge multiple accounts, Aware Super charging fees for no service, Westpac/ BT incorrectly ...

AustralianSuper sued over death benefit delays

JAMIE WILLIAMSON  |  WEDNESDAY, 12 MAR 2025
Australia's largest super fund is being sued by ASIC over the delayed processing of close to 7000 death benefit claims, with some beneficiaries left waiting four years for a payout. The regulator has commenced federal court proceedings against AustralianSuper ...

Insurance through superannuation stages a comeback

ANDREW MCKEAN  |  TUESDAY, 4 MAR 2025
... inactive accounts, or those aged under 25 - taking a sledgehammer to the number of people insured through superannuation for death benefits. Intended to prevent insurance premiums from eroding members' account balances for cover they mightn't ...

Multiple account bungle costs AustralianSuper $27m

KARREN VERGARA  |  FRIDAY, 21 FEB 2025
... Superannuation Industry (Supervision) Act 1993 (Cth). ASIC is currently investigating AustralianSuper over delays in paying out death benefits after it remediated members last year.

Bragg accuses ASIC of secrecy

ELIZA BAVIN  |  THURSDAY, 20 FEB 2025
... that these funds are operating on the basis that they are compulsory?" Bragg said. "Clearly people are not getting their death benefits paid, they're being charged for multiple accounts, they're being charged insurance they don't want, and ...