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Showing 31 - 40 of 124 results for "Death benefits"

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 ...

'Our patience is running thin': ASIC

ELIZA BAVIN  |  THURSDAY, 15 AUG 2024
... about delays in claims doubled between 2022 and 2023. "We are particularly concerned about delays in processing death benefits claims, where complaints tripled over the same period," Constant said. "As you will know, as part of our review of superannuation ...

Industry demands action to stop abusers claiming victims' super

ANDREW MCKEAN  |  THURSDAY, 8 AUG 2024
... their victim's super. Additionally, they've advocated for reforms that would allow super funds to withhold death benefits in "substantiated cases of family violence." "Clear and robust evidence standards, judged by an independent body such as ...

AFCA seeks industry feedback on approaches

ELIZA BAVIN  |  FRIDAY, 14 JUN 2024
... superannuation. It is also looking to amend its approach to delayed insurance claims in the super industry and superannuation death benefits. In addition, it is seeking amendments and new approaches to various issues within the general and life insurance ...

AustralianSuper bears brunt of complaints: AFCA

KARREN VERGARA  |  TUESDAY, 11 JUN 2024
... related to account administration, followed by issues relating to group insurance (35.7%). A minority related to death benefits (11.5%) and pensions (0.89%). Victims of Dixon Advisory continued to file complaints with AFCA as 52 registered their issues ...

Super funds' IDR process weak, inadequate: AFCA

KARREN VERGARA  |  FRIDAY, 5 APR 2024
... complaints appropriately both at the IDR and external dispute resolution (EDR) level and consistently delayed processing death benefits and insurance claims. Once AFCA raised the issue with the fund, the trustee blamed its administrator for failing to ...