Regulatory Alerts2025-11-25
Cbus ordered to pay $23.5 million penalty for serious failures in processing members death benefits and insurance claims
The Federal Court has ordered United Super Pty Ltd, trustee of the Cbus superannuation fund, to pay a $23.5 million penalty for systemic failures in processing death and total and permanent disability insurance claims. The contraventions involved unreasonable delays affecting over 7,000 members, inadequate oversight of outsourced administrator performance, and late reporting of breaches to ASIC. This enforcement action underscores the regulator's intensified scrutiny of claims handling and member services within the superannuation industry.
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