Superannuation Complaints Tribunal

Superannuation Complaints Tribunal

The Superannuation Complaints Tribunal is an independent statutory body established by the Australian Government to deal with complaints about superannuation (and certain life insurance annuities).

History

The Superannuation Complaints Tribunal was established under the Superannuation (Resolution of Complaints) Act in 1993. It was established at the same time as a new prudential and disclosure framework was put in place under the Superannuation Industry (Supervision) Act 1993, protecting employees compulsory superannuation contributions (introduced in 1992).

Operation of the Tribunal

In order for the Tribunal to deal with a complaint, a member (former member or potential beneficiary) of a superannuation fund must first make a formal complaint to the Trustee of that fund (under the fund's own internal complaints procedures). If the complaint is not resolved to the member's satisfaction (or has not been dealt with within a 90 day period) then a complaint can be made to the Tribunal.

The Tribunal will only deal with complaints as they relate to a trustee decision affecting an individual member. The Tribunal cannot deal with complaints about the fund as a whole (eg poor investment performance). [http://www.sct.gov.au/Making_a_complaint/default.asp?
]

The Tribunal will first try and resolve the complaint through concilliation (where the SCT will facilitate a discussion with all parties involved).

If concilliation is not successful, the Tribunal will make a "review" decision that is binding on all parties.

See also

*Superannuation in Australia
*Australian Prudential Regulation Authority
*Australian Securities and Investments Commission
*Financial Industry Complaints Service

References

* [http://www.fido.gov.au/asic/pdflib.nsf/LookupByFileName/You_can_complain_Eng.pdf/$file/You_can_complain_Eng.pdf "You can complain"] by Australian Securities and Investments Commission", June, 2006, retrieved December 29, 2006
* [http://www.aph.gov.au/senate/committee/history/super_ctte/suprep18/index.htm "Review of the Superannuation Complaints Tribunal"] by the Senate Select Committee on Superannuation, April 1996

External links

* Superannaution Complaints Tribunal Website http://www.sct.gov.au/
* ASIC Consumer Website "FIDO" http://www.fido.gov.au/fido/fido.nsf


Wikimedia Foundation. 2010.

Игры ⚽ Нужно сделать НИР?

Look at other dictionaries:

  • Superannuation in Australia — Total superannuation industry assets at the end of the financial year 1996 2006 …   Wikipedia

  • Ombudsmen in Australia — See Ombudsman for the definitions and examples of other ombudsman throughout the globe. Contents 1 Government ombudsmen 1.1 Commonwealth ombudsmen 1.2 State ombudsmen 2 …   Wikipedia

  • List of Australian Commonwealth Government entities — Australia This article is part of a series about the Politics and government of Australia …   Wikipedia

  • Liste der australischen Ministerien, Behörden, Agenturen und Kommissionen — Dies ist eine Liste der australischen Ministerien, Behörden, Agenturen und Kommissionen. Die neue australische Regierung der Australian Labor Party, geführt von der Preminerministerin Julia Gillard, wurde durch den Governor General of Australia… …   Deutsch Wikipedia

  • Michael Baume — The Honourable Michael Baume AO Member of the Australian Parliament for Macarthur In office 13 December 1975 – 5 March 1983 Preceded by …   Wikipedia

  • List of Statutory Instruments of Scotland, 2006 — This is an incomplete list of Scottish Statutory Instruments in 2006.1 100* Public Contracts (Scotland) Regulations 2006 S.S.I. 2006/1 * Utilities Contracts (Scotland) Regulations 2006 S.S.I. 2006/2 * Food Hygiene (Scotland) Regulations 2006… …   Wikipedia

  • List of Statutory Instruments of Scotland, 2002 — This is an incomplete list of Scottish Statutory Instruments in 2002.1 100* BSE Monitoring (Scotland) Amendment Regulations 2002 S.S.I. 2002/1 * Environmental Impact Assessment (Uncultivated Land and Semi Natural Areas) (Scotland) Regulations… …   Wikipedia

  • List of Statutory Instruments of the United Kingdom, 1990 — NOTOC This is a complete list of all 1646 Statutory Instruments published in the United Kingdom in the year 1990.1 100* Caseins and Caseinates (Scotland) Amendment Regulations 1990 S.I. 1990/1 * Personal Community Charge (Relief) (England)… …   Wikipedia

  • List of Statutory Instruments of the United Kingdom, 1997 — This is a complete list of all 1840 Statutory Instruments published in the United Kingdom in the year 1997. NOTOC 1 100* Education (Recognised Bodies) Order 1997 S.I. 1997/1 * Bedfordshire and Hertfordshire Ambulance and Paramedic Service… …   Wikipedia

  • List of Statutory Rules of Northern Ireland, 2005 — This is an incomplete list of Statutory Rules of Northern Ireland in 2005.1 100* Road Vehicles Lighting (Amendment) Regulations (Northern Ireland) 2005 S.R. 2005 No. 1 * Employer s Liability (Compulsory Insurance) (Amendment) Regulations… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”