Resolving Pension Disputes in Australia
The Superannuation Complaints Tribunal was set up by the Australian government to help employees and retirees who have pension problems. The word “superannuation” is the term used in Australia for “pension plan.” This organization handles complaints concerning private sector pension plans, individual account plans, annuities, and some problems arising with plans provided for government employees. It also handles certain disability and medical claims.
People can submit a formal complaint to the Tribunal after they have tried to resolve the problem with their plan administrator. The Tribunal first attempts to mediate a resolution. It will write to the plan requesting information about the case, and plans have 28 days to respond. If the mediation process is unsuccessful, a formal review is held, and the plan must comply with the Tribunal’s decision. Appeals can be made only concerning issues relating to pension law. There is no cost to participants to file a complaint with the Tribunal.
For more information, read more at the Superannuation Complaints Tribunal website.

Spotlight
Wondering how much you can contribute to your retirement plan this year? Read our helpful fact sheet to find out. The fact sheet also includes contribution limits for previous years. Read the fact sheet.
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Did You Know?
A 401(k) plan is a retirement savings plan in which the benefit is based on contributions to an individual account and the investment return on those contributions. Typically, employees make contributions to the plan and, in many cases, employers match the employees' contributions. These plans are called defined contribution plans. In most 401(k) and other retirement savings plans, the employee is responsible for choosing among the investments offered by the plan. Other types of retirement savings plans are 403(b) and 457 plans.




