Sun, 17th Nov 2024

On this week's Superannuation News Wrap, we examined significant events impacting Australia's superannuation industry. Cbus, managing $94 billion of assets, has resolved over six thousand overdue death and disability claims amid ASIC scrutiny over alleged systemic failures, with 80% of the 7500 investigated claims now settled and $755 million disbursed. Furthermore, United Super, a trustee for Cbus, is facing accusations of intentional delays and breaching reporting requirements. In other news, a superannuation gap is impacting early savings for young workers under 18 leading to calls for rule amendments to ensure equitable savings. The weekly wrap also hinted at broader changes, such as superannuation payments for paid parental leave, indicating overall reform in superannuation policies. Tune in for these important updates and significant strides in the superannuation sector.n