Author: Recruitment Super
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What happens if a superannuation provider goes bankrupt?
Superannuation is a critical aspect of financial planning for many individuals, providing a means of saving for retirement and ensuring a secure financial future. However, like any financial institution, superannuation providers are not immune to the possibility of financial instability or bankruptcy. The idea of a superannuation provider going bankrupt can be concerning for those…
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How to handle legal disputes over superannuation death benefits
When a loved one passes away, navigating the legalities surrounding their superannuation death benefits can be a complex and emotionally challenging process. These benefits are intended to provide financial support to the deceased’s dependents or nominated beneficiaries. However, disputes can arise over who is entitled to receive these funds, leading to potential legal battles. Understanding…
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Boost Your Retirement: Superannuation Tips for Financial Security
In today’s financial landscape, ensuring a secure retirement through strategic superannuation planning is paramount. Regardless of your current stage in life, the decisions you make now can significantly impact your future financial well-being. It is crucial to consider key strategies that can enhance your superannuation balance and pave the way for a comfortable retirement. One…
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What are the legal implications of accessing superannuation early?
Accessing superannuation early can have serious legal implications for individuals. Superannuation, also known as super, is a way of saving for retirement in Australia. It is a compulsory system where employers are required to contribute a percentage of an employee’s earnings into a super fund. While super is designed to provide financial security in retirement,…
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How to switch super funds while ensuring legal compliance
Switching super funds is a crucial decision that can significantly impact your financial future. Whether you’re looking for better Investment Options, lower fees, or improved customer service, changing super funds requires careful consideration and planning. However, it’s essential to ensure that you comply with all legal requirements when making this switch to avoid any potential…
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AustralianSuper Faces Legal Action Over Delayed Death Benefit Claims
AustralianSuper, one of Australia’s largest superannuation funds, is facing legal action for significant delays in processing death benefit claims. The Australian Securities and Investments Commission (ASIC) has taken the fund to the Federal Court for allegedly taking up to four years to assess around 6,897 death benefit claims between July 2019 and October 2024. This…
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What are your rights when disputing a superannuation claim?
When it comes to superannuation claims, disputes can sometimes arise between members and their funds. It is essential for individuals to understand their rights and options when facing a superannuation claim dispute. In this article, we will delve into the rights that individuals have when disputing a superannuation claim and the steps they can take…
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How to challenge unfair superannuation fees or practices
Superannuation is a crucial aspect of financial planning for many individuals, as it provides a source of income during retirement. However, unfair fees and practices by superannuation funds can erode your retirement savings over time. It is essential to be aware of these potential issues and know how to challenge them effectively. In this article,…
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Superannuation Check: Aussies Increasingly Monitoring Their Retirement Funds
In recent times, more Australians are taking a proactive approach to managing their superannuation funds, according to the latest survey conducted by Money magazine. The survey, based on 594 responses, highlighted a significant increase in the frequency of Australians checking their superannuation balances. Surprisingly, 40.7% of respondents now monitor their super on a monthly basis,…
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What are the legal obligations of superannuation trustees?
Superannuation trustees play a crucial role in managing and safeguarding the retirement savings of millions of individuals. As fiduciaries, superannuation trustees are entrusted with the responsibility of ensuring that members’ interests are prioritized and that the fund is managed in accordance with the law. In this article, we will delve into the legal obligations of…