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Showing 1 - 10 of 22 results for cbus death benefit claims

Trustees lack death benefit claims uplift urgency: ASIC

KARREN VERGARA  |  WEDNESDAY, 10 JUN 2026
... over 500 days to pay a death benefit of around $100,000 to a First Nations woman who was grieving the loss of her husband. Cbus and AustralianSuper were headliners in this department. Cbus paid a nearly $24 million fine for the lengthy delay of death ...

Super funds get ahead of proposed minimum service standards: KPMG

KARREN VERGARA  |  TUESDAY, 19 MAY 2026
... in early 2025, forced to take action on widespread administration and back-office practices. One high profile example is Cbus paying a nearly $24 million fine for the lengthy delay of death benefit payments. The government now wants all super funds to ...

Insurance premiums to drop for HESTA members

JAMIE WILLIAMSON  |  THURSDAY, 7 MAY 2026
... premiums comes as many other super funds are increasing theirs significantly in response to increased claims. AustralianSuper, Cbus and Commonwealth Super Corporation have all increased their premiums, some by more than 40%, in response to a surge in ...

HESTA, Vision Super divest Israeli securities

KARREN VERGARA  |  FRIDAY, 7 NOV 2025
... said it "invests in a wide variety of asset classes and jurisdictions to gain the benefits of diversification." Meanwhile, Cbus, which does not have a dedicated sustainable option, applies an overarching ESG policy, which claims that human rights is ...

Cbus agrees to pay $23.5m fine

ELIZA BAVIN  |  FRIDAY, 31 OCT 2025
Cbus has agreed to pay $23.5 million to settle the matter brought against it by ASIC in relation to delayed death benefit payments to members. A Cbus spokesperson told Financial Standard the super fund co-operated with the regulator throughout the legal ...

Feature: Group insurance | Cold comfort

MATTHEW WAI  |  WEDNESDAY, 22 OCT 2025
... largely owing to immense delays at some of the largest institutions. Stories have emerged of the likes of AustralianSuper and Cbus delaying paying claims to beneficiaries, sometimes by as much as four years. And it's not only a failure of their duty ...

MUFG 'sincerely apologises' to Cbus over claim delays

ELIZA BAVIN  |  WEDNESDAY, 1 OCT 2025
Cbus and MUFG Retirement Solutions have reached a settlement relating to "unacceptable delays" in the processing and payment of death benefit and insurance claims made by Cbus members and claimants. MUFG said it "sincerely apologises to Cbus and its ...

Cbus vows faster death benefit payouts

KARREN VERGARA  |  TUESDAY, 16 SEP 2025
After being caned by ASIC for making beneficiaries wait for more than 90 days to receive a death benefit, Cbus is vowing to pay them faster. Where members have not nominated a beneficiary, Cbus said benefit payments will be paid to the surviving current ...

Small industry super funds beat giants on trust, service, value

ANDREW MCKEAN  |  WEDNESDAY, 18 JUN 2025
... transparency and communication, which bigger funds "don't do very well." Devitt noted that ASIC's crackdown on larger funds like Cbus, which was sued for allegedly failing to act honestly and fairly in handling death benefit and total and permanent disability ...

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

ELIZA BAVIN  |  WEDNESDAY, 28 MAY 2025
... that down further. Now two of the funds, of course, which are two of the largest funds we've taken action against, is Cbus and AustralianSuper." Constant said ASIC will continue to apply pressure to the sector to ensure that all funds - no matter ...
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