The introduction of mandatory and enforceable service standards for all large APRA-regulated superannuation funds is welcome but long overdue.Community has high expectations around release of superannuation benefits at a time of death, illness, or injury.<\/p>\n
CPA Australia\u2019s Superannuation Lead, Richard Webb, today said that while the Government\u2019s introduction of mandatory and enforceable service standards for all large APRA-regulated superannuation funds is a welcome reform to the superannuation system, it is long overdue.<\/p>\n
\u201cThese reforms to superannuation have been long overdue and something CPA Australia has been calling for. There are standards for other matters, but the most sensitive of queries in the event of death or disability have been left out,\u201d Mr Webb said.<\/p>\n
\u201cInsurance and death benefits are key features of superannuation which have routinely been forgotten about.\u00a0This is a welcome reform to important and necessary features of superannuation in Australia.<\/p>\n
\u201cThe community has the highest expectations around the release of superannuation benefits at the time of death, illness or injury, and rightly so as these are serious events.<\/p>\n
\u201cIt\u2019s crucial that information at a time of death or disability is completely clear, with minimal delays. Sensitivity during this time is of upmost importance.<\/p>\n
\u201cEnsuring that this process has robust service standards in place ensures that fund members know exactly what to expect from their fund \u2013 and what their fund expects from them \u2013 when one of these life changing events occurs,\u201d Mr Webb added.<\/p>\n
Mr Webb said CPA Australia looks forward to engaging with the Government to ensure these reforms are handled in a way the community expects.<\/p>\n","protected":false},"excerpt":{"rendered":"
The introduction of mandatory and enforceable service standards for all large APRA-regulated superannuation funds is welcome but long overdue.Community has high expectations around release of superannuation benefits at a time of death, illness, or injury. CPA Australia\u2019s Superannuation Lead, Richard Webb, today said that while the Government\u2019s introduction of mandatory and enforceable service standards for […]<\/p>\n","protected":false},"author":1,"featured_media":11500,"comment_status":"close","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-11498","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australia"],"_links":{"self":[{"href":"https:\/\/pacificposts.com\/index.php?rest_route=\/wp\/v2\/posts\/11498","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pacificposts.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pacificposts.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pacificposts.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pacificposts.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11498"}],"version-history":[{"count":1,"href":"https:\/\/pacificposts.com\/index.php?rest_route=\/wp\/v2\/posts\/11498\/revisions"}],"predecessor-version":[{"id":11499,"href":"https:\/\/pacificposts.com\/index.php?rest_route=\/wp\/v2\/posts\/11498\/revisions\/11499"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pacificposts.com\/index.php?rest_route=\/wp\/v2\/media\/11500"}],"wp:attachment":[{"href":"https:\/\/pacificposts.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11498"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pacificposts.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11498"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pacificposts.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}