Australian Financial Complaints Authority updates three superannuation Approaches and adds family violence guidance for death benefit complaints

The Australian Financial Complaints Authority (AFCA) has published updated “Approaches” covering three superannuation topics, reflecting stakeholder feedback and clarifying how it will assess a range of complex complaint issues. The updates address delayed insurance claims in superannuation, the operation of sections 29(6) and (7) of the Insurance Contracts Act, and superannuation death benefit complaints. In addition to outlining AFCA’s decision-making process across the three topics, the revised Approach on superannuation death benefit complaints includes specific guidance for trustees in matters involving family violence, noting the harm that can occur where perpetrators seek to benefit from these funds. The updated documents and related consultation feedback reports have been published on AFCA’s website.