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Showing 21 - 30 of 119 results for "Death Benefits"

Multiple account bungle costs AustralianSuper $27m

KARREN VERGARA  |  FRIDAY, 21 FEB 2025
... 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
... 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 you're ...

Industry fund insurance bungle adds fuel to mounting outrage

ANDREW MCKEAN  |  THURSDAY, 13 FEB 2025
... hone in on areas which the government feels "need improvement," including the timely and compassionate handling of death benefits, and fair and efficient processing of insurance claims.

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 ...

Minimum service standards for super funds welcomed

ELIZA BAVIN  |  WEDNESDAY, 29 JAN 2025
... 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. "While ...

Superannuation tax shakeup proposed by Actuaries Institute

ANDREW MCKEAN  |  MONDAY, 9 DEC 2024
... 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 approaches ...

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," ...

Brighter Super makes fee, death benefit changes

JAMIE WILLIAMSON  |  THURSDAY, 28 NOV 2024
... administration fees from January 1, while also introducing a weekly account keeping fee. It's also changing the way death benefits are dealt with. Effective January, the annual percentage-based admin fee charged to Brighter Super members will drop from ...

AFCA names and shames in fresh Datacube release

ELIZA BAVIN  |  THURSDAY, 14 NOV 2024
... were around account administration issues. A further 1047 were around group life insurance, and 455 to do with death benefits distribution. The fresh data comes as Cbus is facing proceedings in the Federal Court over delays in paying death benefits. ...

AFCA consults on revised superannuation death benefits

MATTHEW WAI  |  TUESDAY, 8 OCT 2024
The Australian Financial Complaints Authority (AFCA) is seeking feedback on how it approaches superannuation death benefits in hopes to reduce disputes and misunderstandings when processing such complaints. This follows on from another consultation ...