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Showing 1 - 10 of 106 results for "Death benefits"

ASFA publishes new service standards on claims handling

ELIZA BAVIN  |  FRIDAY, 4 JUL 2025
... step in lifting outcomes for fund members when making claims, and follows the release of ASFA's Service Standard, Death Benefits Payments in September last year. This comes after ASIC has called out the superannuation industry on numerous occasions this ...

TAL partners to expand access to affordable insurance

MATTHEW WAI  |  MONDAY, 16 JUN 2025
... ensuring more Australians who want and need insurance can get it," Macgregor said. "Life insurance is much more than death benefits. Last year, 74% of the 54,000 claims we paid supported the recovery of people with an illness or injury that prevented ...

ASIC reads the riot act to the super industry: Longo

ANDREW MCKEAN  |  FRIDAY, 13 JUN 2025
... challenges, and exposed super trustee board blind spots around their data, systems, and processes. For example, our death benefits review found that even the fastest trustees processed less than half (48%) of their death benefit claims within three months. ...

ASIC tells super: 'You have everything you need to not fail'

ELIZA BAVIN  |  WEDNESDAY, 28 MAY 2025
... episode of the Inside ASIC podcast series which will focus on the work that went into producing the superannuation death benefits report, what the industry must fix and and the toll producing the report took on some of those involved.

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 ...

AustralianSuper sued over death benefit delays

JAMIE WILLIAMSON  |  WEDNESDAY, 12 MAR 2025
... minimum service standards for all large APRA-regulated funds. 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.

Insurance through superannuation stages a comeback

ANDREW MCKEAN  |  TUESDAY, 4 MAR 2025
... 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 need, the ...

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.
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Editor's Choice

Australia an 'efficient' market for multinationals

MATTHEW WAI
A new report by Mercator by Citco (Mercator) has revealed that while multinational organisations face significantly higher operations demands in Asia-Pacific (APAC), Australia has proven to be one of the most efficient markets.

Brighter Super default members earn 11% in FY25

KARREN VERGARA
Brighter Super's MySuper option achieved 10.9% p.a. for the 2025 financial year, exceeding performance for the medium and long term.

SIAA chief executive steps down

ELIZA BAVIN
Stockbrokers and Investment Advisers Association chief executive Judith Fox will step down after six years in the role.

GQG assets hit record high despite underperformance

KARREN VERGARA
GQG Partners' assets jumped $4 billion to reach a record high of US$172.4 billion for the 2025 financial year despite experiencing "short-term relative underperformance".

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