Backlog of super complaints develops
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.
Recommended for you
The financial services technology firm has officially launched its digital advice and education solution for superannuation funds and other industry players.
The ETF provider has flagged a number of developments as it formally enters the superannuation space through a major acquisition.
While all MySuper products successfully passed the latest performance test, trustee-directed products encountered difficulties.
Iress has appointed Insignia Financial’s former general manager of master trust and insurance products as its newest CEO of superannuation, who will take over from Paul Giles.
