How do I complain about superannuation?
How do I complain about superannuation?
Complaints can be raised with the OAIC online or in writing:
- Write to GPO Box 5218, Sydney NSW 2001.
- Submit your complaint on the Office of the Australian Information Commissioner website.
What is the role of the Superannuation Complaints Tribunal?
The process for a complaint at the SCT is shown in Figure 1. The Tribunal deals with complaints relating to decisions and conduct of trustees, insurers and other decision-makers in relation to regulated superannuation funds, approved deposit funds, annuities, life policy funds and retirement savings accounts.
Who handles superannuation complaints?
Complaints about your superannuation fund, unless they are of a prudential concern, should be directed to the trustee of the fund. Trustees are required to have an internal dispute resolution process and should respond to complaints within 90 days.
What is the name of the independent dispute resolution body that makes decisions on complaints on APRA regulated superannuation issues?
The Australian Financial Complaints Authority (AFCA) is the main dispute resolution body for the Australian financial system.
How do I contact AFCA?
Contact us
- Telephone. (free call within Australia) 1800 931 678.
- Online. Make a complaint online.
- Email. [email protected].
- 1300 56 55 62. 9:00am–5:00pm AEST/AEDT weekdays.
- Significant event hotline. 1800 337 444.
- Media. [email protected].
- Mail. Australian Financial Complaints Authority Limited.
- Fax. (03) 9613 6399.
Who regulates the superannuation industry?
ASIC
ASIC is the regulator responsible for the Corporations Act 2001 and the ASIC Act 2001. These acts regulate the conduct and disclosure obligations of financial services providers (including superannuation trustees). ASIC is also responsible for administering parts of the Superannuation Industry (Supervision) Act 1993.
What is an external dispute resolution scheme?
An external. dispute resolution (EDR) scheme is one that the Information Commissioner has recognised under the Privacy Act 1988 to handle particular privacy-related complaints. These EDR schemes offer free, independent, quick and fair dispute resolution.
When does the Superannuation Complaints Tribunal report come out?
The Superannuation Complaints Tribunal (SCT) and the SCT Advisory Council1 welcome the opportunity to provide a submission in response to the Interim Report of 6 December 2016 of the Review of the financial system external dispute resolution and complaints framework.
Can a SCT complaint be made against a self managed super fund?
Superannuation providers. It also received complaints in relation to regulated superannuation funds, life policy funds, approved deposit funds and exempt public sector superannuation schemes. It’s worth noting that the SCT generally cannot deal with disputes involving or complaints about self-managed superannuation funds (SMSFs).
What are the problems with superannuation in Australia?
Decisions about a disability claim you have made, including where the claim involves insurance cover held through your superannuation fund. Payment of a death benefit. An unreasonable delay in paying a benefit.
What kind of decisions can superannuation providers make?
Decisions that your superannuation provider has made, including decisions about an application for insurance held through superannuation. Decisions about a disability claim you have made, including where the claim involves insurance cover held through your superannuation fund. Payment of a death benefit. An unreasonable delay in paying a benefit.