Sat, 16th Nov 2024

This week's Financial Services Online's Superannuation News Wrap with Paige Estritori delved into significant issues impacting the superannuation industry. Discussion centred on the Australian Securities and Investments Commission's scrutiny of Cbus and United Super for mishandling over 10,000 death and disability claims leading to extensive delays and potential financial hardship for the affected members. Despite CEO Kristian Fok's assurances of improvements, the industry remains watchful of potential financial penalties. Additionally, Estritori highlighted the overlooked super gap affecting young workers, with over half a million losing out on $368 million in contributions due to current regulations. Calls for more inclusive policies are increasing in response to these modern work trends. The podcast underscored that claim management efficiency and fairness are paramount to the industry.