Cormann calls for action on super complaints
The average time for complaints at the Superannuation Complaints Tribunal to be resolved has risen to 302 days in the current financial year, undermining confidence in the nation’s superannuation system, according to the Opposition Spokesman for Financial Services, Mathias Cormann (pictured).
This is up from an average of 256 days it took to resolve complaints in 2009-2010 and 235 days in 2008-2009, according to information provided by Assistant Treasurer Bill Shorten in response to a question on notice in the Senate.
The increase comes despite the total number of complaints lodged with the Tribunal falling over the same time period, Cormann stated.
Cormann called on Shorten to fix the delays, as well as the issue with Australians being overtaxed for unintentionally breaching contributions caps.
“Superannuation is the cornerstone of Australia’s retirement income policy. Australians must have timely access to any process to resolve their complaints when problems arise. Otherwise they will lose faith in the system,” he said.
“These delays in getting a decision are impacting on people’s capacity to plan for their retirement. It is time Bill Shorten started to focus on doing the job he’s got rather than spend all his time chasing the job he wants,” Cormann said.
AUTHOR
Chris Kennedy
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