Super funds’ death benefit delays cause ‘genuine suffering’, ASIC finds

ASIC’s review of the superannuation industry found that in over 75% of death benefit claims, delays were caused by processing issues within the control of super funds. Poor customer service was prevalent among the 10 trustees reviewed, with excessive delays and instances of dismissive behavior reported. ASIC made 34 recommendations to improve customer service, response times, monitoring, claims processes, staff training, and accessibility for First Nations claimants.

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