Super Consumers Australia Archives - Consumers' Federation of Australia

10 October , 2024

Advocates Warn Scams Prevention Framework Needs Assumption of Reimbursement, Not Halfway Measures

A broad coalition of consumer advocates is calling for the Albanese Government to make one fundamental change to the proposed Scams Prevention Framework (SPF) and put reimbursement at its core, warning that without this improvement the SPF is not going to work for the tens of thousands of Australia’s robbed by scammers. The group’s call…

17 September , 2024

Advocates Welcome New Scam Framework, Urge Consumer Safeguards be at the Front and Centre

Consumer Action Law Centre, CHOICE, the Australian Communications Consumer Action Network (ACCAN) and Super Consumers Australia, have welcomed the announcement from the Albanese Government of a consultation on a draft bill starting today, for the proposed Scams Prevention Framework. “I congratulate Assistant Treasurer Stephen Jones and the Albanese Government for pushing ahead with these scam…

4 July , 2024

Australians Expect Super Funds to Work Hard Against Scams and Fraud

Super Consumers Australia welcomes the Financial Service Council’s Scam Mitigation Standard, but more work needed from Federal Government to fight scams in super

7 March , 2024

Closing the Super Gender Balance Pay Gap

Paying super on government paid parental leave is a welcome first step towards closing the super gender balance gap.

13 February , 2024

Advocates Call for New Super Anti-Scam Code

Recent super fund data breaches and increasingly sophisticated super scams demonstrate the urgent need for industry collaboration on a super anti-scam code. Super Consumers Australia today is urging the Federal Government to prioritise the safety of Australians’ 24 million retirement savings accounts by introducing a superannuation industry anti-scam code.

Since 2022, up to 178,000 superannuation members across three super funds have been placed at a heightened risk of phishing scams due to known super fund data breaches.

4 January , 2024

Strong Consumer Voice for Superannuation Sector Announced

In the 2023–24 Budget, the Government announced funding to support a consumer advocate in the superannuation sector. This means that consumers will have an independent voice advocating for better outcomes on their behalf to Government and industry.

Super Consumers Australia has been chosen as the successful recipient of this funding, following an open and competitive grant process. Super Consumers Australia will promote the interests of members by representing members in policy development and supporting better member understanding of the superannuation system.

22 September , 2023

Single Parents Unfairly Priced Out of Health Insurance

Single parents who want to cover their children on their policy will be slugged with an increase of up to 60–70% in many cases. Sometimes they’ll even pay twice as much.

21 September , 2023

Calls for Independent Inquiry into Super Insurance Gaps

Research conducted by CHOICE in 2022 found many Australians aren’t aware of what insurance they have through their super. Only 54% of respondents knew how much they paid for insurance, and just 51% knew what situations their super insurance covered.

8 September , 2023

Super Consumers Australia: “System-wide quality testing needed”

Today’s super performance test results have revealed 96 underperforming choice products in
the market.

Image 11 May , 2023

Voice for Consumers Will Strengthen Superannuation

Original media release on 9/05/2023 by Super Consumers Australia (SCA). The Federal Government has strengthened the superannuation system today by ensuringpeople are paid the super they earn, creating fairer super tax concessions and providinglong-term funding to continue an independent superannuation consumer advocate. SuperConsumers Australia has been delivering on this mission for the last five years…

Image 2 May , 2023

Super Payday

Super Consumers Australia welcomes the Federal Government’s announcement that people will now be paid super at the same time as wages. The move will see more money in the pockets of Australians at retirement and help the regulator crack down on wage theft.

Image 1 May , 2023

“Some super funds shouldn’t be in the market”

With the release of the Australian Prudential Regulation Authority’s (APRA) ‘Choice Heatmap‘ which provides greater performance transparency and scrutiny on various multi-sector Choice investment options, Super Consumers Australia (SCA) released a media statement on 26/04/2023 (below) calling for more transparency and testing while emphasising the specific vulnerability of Australian retirees: “It is appalling that after…