Grievances about AustralianSuper more than doubled to 750 last financial year – more than two times the average of big providers on a per-member basis.
AustralianSuper was the worst retirement fund for complaints last financial year, as grievances more than doubled to 1750, or more than two times the average of other big providers on a per-member basis.
AustralianSuper recorded the biggest jump in complaints last financial year compared with the previous one, with an increase of 127 per cent, an analysis of AFCA data shows. Cbus, AMP, BT and Hostplus rounded out the top five most complained about big funds, with grievances per 10,000 members of 4.4, 3.5, 3.3 and 3.1 respectively.
It also invested in technology to speed up insurance claim assessments and its customer self-service capabilities, strengthened training and moved the management of insurance claims from its administrator to its insurance provider TAL. AustralianSuper was again the most complained about fund in this regard, accounting for 23.3 per cent of all death benefit complaints and 15.7 per cent of insurance grievances.
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