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Showing 1 - 10 of 85 results for "Death benefits"

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 ...

ASIC cracks down on scammers

CHLOE WALKER  |  MONDAY, 4 MAR 2024
... access low-fee accounts, and how superannuation trustees deliver important member services, such as how they handle death benefits claims," Longo said. "We will continue to work to ensure the financial system works for all Australians." At the same time ...

Major decline in group insurance coverage: ASFA

ANDREW MCKEAN  |  WEDNESDAY, 28 FEB 2024
... Interests First (PMIF) policies have contributed to a substantial reduction in superannuation insurance coverage for death benefits; a 36% reduction from June 2018 to June 2023. A comparable decline was observed in the coverage for Total and Permanent ...

Super funds convene with assistant treasurer

ANDREW MCKEAN  |  MONDAY, 26 FEB 2024
... discussion last week with Jones, focusing on how the government could expedite the process for insurance claims and death benefits. They also briefed the minister on new initiatives by super funds to improve service delivery. "The entire super industry ...

New caps can increase super contributions: SMSFA

KARREN VERGARA  |  THURSDAY, 22 FEB 2024
... withdrawals on exempt current pension income (ECPI), not wasting losses and/or negative earnings, and any tax on death benefits.

Super bequest reform can boost charitable giving by billions: Report

ANDREW MCKEAN  |  TUESDAY, 24 OCT 2023
... relatively underutilised by most people. The report advocates for the removal of the 17% tax on superannuation death benefits directed to charities and calls for an amendment to legislation whereby charities could be a direct recipient of a death benefit ...

Advisers lacking PII sidestep AFCA rulings

KARREN VERGARA  |  FRIDAY, 28 JUL 2023
... soared 31% to 6957. A large chunk of the complaints stemmed from super funds and insurers delaying the payment of death benefits. This rose a whopping 136% annually. Singh said that many super funds still make it difficult for members to find basic information. ...

Another round of consultation for veteran super taxation

JAMIE WILLIAMSON  |  TUESDAY, 9 MAY 2023
... Douglas decision found that certain veterans' invalidity pension payments in the Defence Force Retirement and Death Benefits (DFRDB) and Military Superannuation benefits (MSB) schemes are super lump sums for income tax purposes rather than superannuation ...

In need of repair: Gender stereotypes and advice

KARREN VERGARA  |  TUESDAY, 7 MAR 2023
... death, with a mean balance of about $500,000. "The wealth transfer between couples as a result of superannuation death benefits is something that will require forensic examination. Given the interaction of the superannuation caps, trigger events, as ...

Regulators sound alarm on cybersecurity, fraud in super

ANDREW MCKEAN  |  FRIDAY, 24 FEB 2023
... members are protected. That's a hard balance, particularly when you think about access to funds paying out death benefits; we're seeing a lot of noise starting to come up about how quickly or not quickly we're paying out death benefits, and ...
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