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People will be hundreds of thousands of dollars worse off in retirement if the Federal Government doesn’t act now to stop the superannuation sector eroding savings. Today the Productivity Commission has released its plan to reverse the outdated structure that has led to poor performing funds, multiple accounts and zombie insurance policies. Fixing these problems…

Read More Advocates call for changes to superannuation sector

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The Essential Services Commission determines the maximum surcharge that can be collected when someone pays for a taxi using any method other than cash. The ESC is now reviewing this surcharge. Non-cash payment transactions include those made by credit card, charge card, and debit card. Cabcharge cards and dockets are also considered non-cash payment methods.…

Read More Victorian regulator consults on maximum taxi surcharges

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The Queensland Consumers Association says a major UK report on “loyalty penalties” (charging existing customers more than new ones) just released is very relevant to Australian consumers and the nation’s consumer protection and empowerment policies and practices. Association spokesperson, Ian Jarratt, says “loyalty penalties” are also a major problem for Australian consumers and this UK…

Read More Australia can learn from UK report on “loyalty penalties”

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Today ASIC has released Report 604  Credit card lending in Australia – An update (REP 604), which sets out the changes being made by lenders to help consumers with credit card debt. In July 2018, ASIC released Report 580 Credit card lending in Australia (REP 580), which found more than one in six consumers is struggling with credit card debt. The…

Read More Lenders commit to improve credit card practices following ASIC review

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Thirty-one telcos face enforcement action for not having appropriately documented complaints-handling processes in place following investigations by the Australian Communications and Media Authority (ACMA). The ACMA investigated 41 telcos to assess their compliance with new requirements, in place since 1 July 2018, to have a documented complaints-handling process available for their customers. Following the investigations: only…

Read More Telcos directed to comply with complaints-handling rules

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The Australian Energy Regulator’s decision on the rate of return monopoly network businesses can earn will help create breathing space for consumers struggling with energy affordability. The CEO of Energy Consumers Australia Rosemary Sinclair said that the decision was important because the rate of return on capital accounts for around half the revenue network business…

Read More Regulator’s decision on network earnings creates breathing space for consumers

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New research from leading consumer and tenancy groups (CHOICE, National Shelter and the National Association of Tenant Organisations (NATO)) show that Australians who rent are living in fear of eviction and rent rises. The report ‘DISRUPTED: The consumer experience of renting in Australia ‘DISRUPTED: The consumer experience of renting in Australia’ surveyed Australians who rent…

Read More New report from leading consumer and tenancy group on renting in Australia

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The ACMA has established a Scam Technology Project to explore practical technical solutions to address the proliferation of scam calls over Australian telecommunications networks. ‘Scam calls are more than a nuisance. They pose a real threat, particularly to those in vulnerable circumstances such as older people,’ said ACMA Chair Nerida O’Loughlin. “This project will investigate…

Read More Scam Technology Project to address proliferation of scams

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New unit pricing standard empowers consumers Consumers have been equipped with a new tool making buying decisions easier with products now able to be compared on a fairer level, thanks to an international effort spearheaded by Australian experts including Consumers Federation of Australia (CFA) representative Ian Jarratt. The recently published International Standard, ISO 21041:2018, Guidance on…

Read More Pricing it right

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International Volunteer Day (IVD) 5 December 2018, “Volunteers build resilient communities”, recognises volunteers worldwide – with a special focus on local community volunteers – who contribute to making their communities more resilient against natural disasters, economic stresses and political shocks. The campaign theme combines the recognition of volunteers with concrete evidence from the State of the World’s…

Read More International Volunteer Day 2018