Superannuation Complaints Tribunal
SCT
1 July 1994 – 31 December 2020
Independent tribunal, staffed through ASIC, that resolved complaints about decisions of superannuation fund trustees, annuity providers and retirement savings account providers, including disputes over death benefits.
How it came into existence
Began operating on 1 July 1994 under the Superannuation (Resolution of Complaints) Act 1993 to give fund members a free alternative to the courts. The function was new.
Legislation: Superannuation (Resolution of Complaints) Act 1993
Changes during its life
- 1 November 2018Ceased accepting new complaints when the Australian Financial Complaints Authority began operating.
How it ended
Stopped accepting new complaints when the industry-funded Australian Financial Complaints Authority began on 1 November 2018, and closed on 31 December 2020; complaints it had not finalised passed to that authority.
Main functions
- Conciliation of superannuation complaints
- Review of trustee decisions
- Determinations on death benefit distributions
Where it sits
Last in the portfolio of Department of the Treasury.
Lineage
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Sources
Primary sources
- Australian Government Organisations Register (Department of Finance, data.gov.au) (listed from 11 December 2014 to 1 January 2022)