Queensland financial services firms affected by flooding
Flooding in south-east Queensland has interrupted the services of several Queensland-based financial services organisations that had earlier offered assistance to those affected by the floods.
On Friday last week big Queensland-based industry super fund ESI Super was urging flood victims to contact their super fund.
But calls to ESI Super from Money Management yesterday were not returned, and a message on the fund’s website today states that ESI’s contact centre and administration teams will be providing limited service until further notice.
ESI’s ‘Life Event’ program is designed to provide assistance and advice to those who undergo a life-altering event through services including financial advice and assistance in managing, accessing or transferring super and insurance funds, ESI stated last week.
Although super funds may be the last thing on flood victims’ minds, it is sometimes possible to arrange early release of some funds. Super funds can also assist with recovering lost documentation and dealing with Government agencies such as Centrelink and the Australian Tax Office (ATO), ESI stated.
Suncorp is also offering to help customers access super due to financial hardship, and on 31 December had posted information on its website aimed at helping customers process flood claims faster. But today a Sydney-based media representative from Suncorp told Money Management that many Brisbane-based staff are being forced to work from home due to Brisbane CBD closures, and that information may also be slower than usual to filter through.
Another Queensland-based industry super fund, Sunsuper, was also not returning calls yesterday and a message on Sunsuper’s website states that the fund’s contact centre will be closed until further notice.
Construction industry super fund BUSSQ has also closed its Brisbane office with phone services transferred to the Melbourne site, although representatives are still working at other safe locations, according to a statement on the fund’s website.
The ATO has released a statement saying that businesses in postcodes that are designated to be within flood-affected areas of Queensland and northern New South Wales will automatically have payment and lodgement due dates for December monthly activity statements deferred from 21 January to 21 February.
The ATO can also assist with fast tracking funds, granting interest-free debt extensions, reconstructing tax records and helping people claim tax hardship concessions, according to the statement.
Recommended for you
Technology firm Iress and investment manager Challenger have formed a strategic partnership to launch an adviser solution to better serve their retiring clients.
There have only been a “handful” of opportunities in the last 20 years when infrastructure has looked as cheap relative to equities as it does now, according to Lazard, making it a viable option to provide portfolio security amid market volatility.
While M&A has ramped up nationwide, three advice heads have explored Western Australia’s emergence as a region of interest among medium-sized firms vying for growth opportunities in an increasingly competitive market.
The Australian Financial Complaints Authority has reported an 18 per cent increase in investment and advice complaints received in the financial year 2025, rebounding from the previous year’s 26 per cent dip.
