‘Massive win for consumers’: Govt cracks down on super fund claims delays
The Albanese government has launched a pre-election crackdown on poor member services in the superannuation sector, especially delays in processing death benefit and insurance claims, as it looks to introduce new “mandatory and enforceable” industry standards. The new rules, which followed regulatory enforcement action against Cbus and AustralianSuper's self-initiated claims compensation scheme, was described by consumer advocates as a “massive win”.
Regulation