Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 101 - 110 of 1001 results for "Death"

Super's operational infrastructure 'not quite right'

ELIZA BAVIN  |  FRIDAY, 14 FEB 2025
... member servicing - which have been heightened in the wake of Cbus and AustralianSuper admitting to failures to deliver timely death benefit claims - which it said stand as an indication that "something is not quite right" somewhere in the system. "We ...

Industry fund insurance bungle adds fuel to mounting outrage

ANDREW MCKEAN  |  THURSDAY, 13 FEB 2025
... mishandling comes as other major superannuation funds have been caught up in ASIC investigations and legal action for stalling on death benefit payouts. The industry fund, which has over two million members, wrote to impacted members acknowledging the ...

AustralianSuper under investigation for delayed death benefit payouts

ANDREW MCKEAN  |  THURSDAY, 6 FEB 2025
AustralianSuper is being investigated by ASIC over delays in paying out death benefits, after it remediated members last year. AustralianSuper announced last November that it would compensate around 7000 beneficiaries with $4.2 million for death benefit ...

ASIC bans adviser fraudster found with child abuse material

ANDREW MCKEAN  |  WEDNESDAY, 29 JAN 2025
... position of trust, being a financial adviser. It was brazen, persistent and premeditated." Judge Smith said after the client's death, the funds were meant to go to his brother, who was unaware of the entitlement and died a few years later, making his ...

Minimum service standards for super funds welcomed

ELIZA BAVIN  |  WEDNESDAY, 29 JAN 2025
... three target areas which the government feels "need improvement". These include the timely and compassionate handling of death benefits, fair and efficient processing of insurance claims, and clear, respectful and accessible communications with members. ...

Perpetual awards mandate to Equity Trustees

KARREN VERGARA  |  TUESDAY, 7 JAN 2025
... products are part of the Perpetual WealthFocus offering. The Super Plan allows investors to save for retirement and offers death, disability, and salary continuance insurance cover to eligible members. The Pension Plan pays clients a regular pension ...

Hostplus' AFCA complaint response times lag

ELIZA BAVIN  |  MONDAY, 16 DEC 2024
... Snapshot of complaints handling by superannuation trustees. The report also outlined how long the fund takes to deliver a death benefit claim from the notification of death to the payment - something which ASIC has been cracking down on super funds for ...

Top superannuation policy priorities for 2025: SMC

ANDREW MCKEAN  |  TUESDAY, 10 DEC 2024
... change that would eliminate duplicate fees for 100,000 retirees. The advocacy group also recommended digitising binding death nominations and the standardising death certificate and proof of identify processes to expediate death benefit payments. It ...

Superannuation tax shakeup proposed by Actuaries Institute

ANDREW MCKEAN  |  MONDAY, 9 DEC 2024
... advisers," the paper said. The second reform proposed is to impose a tax on "very high benefits" drawn in retirement and on death benefits; beyond levels deemed necessary to provide a "suitable retirement income." The paper outlined several potential ...

Super framework, SMSFs conducive to financial abuse: Inquiry

KARREN VERGARA  |  FRIDAY, 6 DEC 2024
... violence-related suicide, against a victim is declared an invalid beneficiary of the account holder's superannuation death benefits. "Something is very wrong when the perpetrators of economic abuse receive their victim's superannuation earnings," ...