Boost for Super Complaints Tribunal
The Superannuation Complaints Tribunal has received at boost in the Budget with an increase in funding.
The Government announced that it would be providing an additional $5.9 million over four years to cover what it described as “the rising workload and complexity of complaints handled by the SCT".
It said that funding of the SCT was fully offset by an increase in the financial sector levies collected from the superannuation industry by the Australian Prudential Regulation Authority.
AUTHOR
Mike Taylor
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
