Backlog of super complaints develops

superannuation-complaints-tribunal/government-and-regulation/compliance/federal-government/

12 September 2013
| By Staff |
image
image
expand image

The Superannuation Complaints Tribunal (SCT) has acknowledged the development of a "backlog" of complaints and the need to hire additional staff to handle them.

The backlog, amounting to around 550 complaints, was acknowledged by SCT chairperson Jocelyn Furlan in the tribunal's most recent quarterly newsletter and referenced additional Government funding to help address the problem.

"Some trustees will be aware that there are a large number of complaints currently before the Tribunal that are waiting to be allocated to complaints analysts," Furlan said in the newsletter. "In May the Tribunal wrote to trustees providing them with a list of the complaints in respect to their fund(s) awaiting allocation.

"The Tribunal appreciates the efforts of trustees who have taken the opportunity to revisit the complaints and continue with their own efforts to resolve matters. To date 18 complaints have been resolved.

"The Tribunal is receiving additional Federal Government funding to deal with the build-up of complaints. There are approximately 550 complaints identified as ‘backlog'. We have recruited additional staff to form a project team who will work on these complaints," Furlan's newsletter said.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months ago

Entireti has unveiled the new name for the AMP financial advice businesses that it acquired last year....

4 weeks 1 day ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

2 weeks 6 days ago

Minister for Financial Services, Stephen Jones, has provided further information about the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms....

1 week 5 days ago

TOP PERFORMING FUNDS