Senate committee review a win for widows hit by super payout delays
· 27.11.2023 · 12:12:53 ··· ··· Monday ·· 1 (1)
Sky News Australia Sky News Investigations Reporter Jonathan Lea discusses the Senate’s vote to conduct a committee review into the insurance sector, which could potentially investigate superannuation companies for payout delays.
Australia's largest superannuation company is being accused of deliberately exploiting older, vulnerable women to boost profits.
Australian Super has billions locked up in retirement savings, but two widows told Sky News the company has put them through hell to avoid or delay paying out their late husbands' money.
“It is a win for those who have struggled to get a hold of their loved ones’ nest eggs, who have struggled to get hold of their death benefits and also for those who have struggled with TPD,” Mr Lea told Sky News host Chris Kenny.
“How far and how deep this goes remains to be seen.”
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