Super Consumers welcomes commitment to better customer service
Super Consumers Australia welcomes the Federal Government announcement to introduce mandatory customer service standards to super.
“This announcement is a massive win for Australian consumers. Super funds have been
taking far too long to do basics like pick up the phone and pay people the money they
are owed. Huge delays on payments at some super funds were forcing people to
struggle with their day-to-day living costs and debts,” says Super Consumers Australia
CEO, Xavier O’Halloran.
“We welcome the announcement today by the Assistant Treasurer, Stephen Jones and
look forward to representing consumer needs in the forthcoming service standard
consultation. The terms of reference for this consultation target some of the biggest
areas for improvement at super funds, including:
- The timely and compassionate handling of death benefits,
- Fair and efficient processing of insurance claims; and
- Clear respectful and accessible communications with members.
“If done right, these standards will strengthen the super system and give people
confidence that their super is there for them when they need it most.”
“Practically we want to ensure these service standards will make it very clear how long
super funds have to decide a claim or process a death benefit, and how to treat people
respectfully through the process.”
“We also see room for consumers to be better equipped to judge the customer service
at a fund. We need to see more public data and a comparison tool on how funds are
performing on customer service.”
“People currently have no idea which funds are better than others when it comes to
insurance claims and disputes. It’s a crucial function of super funds and yet we’re all left
in the dark. We’re again calling on APRA and ASIC to shine a light on which funds need
to step up for their members.”
“Mandatory standards plus public accountability are the only way to stop the distressing
experiences we hear about so often,” says O’Halloran.