The Superannuation Complaints Tribunal's latest annual report shows that more than half of the complaints they received for the 2010-11 year involved superannuation administration issues.

Additionally, 33% involved the distribution of death benefits with a further 13% relating to the payment of disability insurance claims.

Some of the administration issues included:

• delays in the time taken action switches between investment options;
• delays in rolling money over to another superannuation fund;
• insurance premium deductions;
• investment returns;
• delays between the date of resignation or retirement and the rollover or payment of the benefit

"These are all further reasons why self managed super funds are a premium option for consideration" commented  Andrew Frith of the Self-Managed Super Specialists.  "When you are the trustee and the member of your self managed super fund the fund and the funds available for retirement are top of mind, not delegated to some large administration organisation which may or may not even be in Australia."

Speak with our award winning Newcastle financial advisor and self managed super fund expert  Andrew Frith
 

Do you have, a self-managed super fund? or are you thinking about a SMSF?   Leenane Templeton are running a SMSF Trustee Seminar on 17 October 2012.  The SMSF Seminar aims to give the trustees or would be trustees an insight into the issues and strategies available in self-managed or family superannuation funds.  Guest speakers will include Paul Chin – Senior Investment Analyst at Vanguard Investments and Andrew Frith, CEO of The Self Managed Super Specialists.  For more details email events@leenanetempleton.com.au   

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