Superannuation and insurance
ASIC does not settle insurance or superannuation disputes or award compensation.
Please read the following information about resolving these disputes through the internal dispute resolution process and external dispute resolution schemes:
- Disputes with financial firms (INFO 174)
- What to do if you are dissatisfied with a decision by the Australian Financial Complaints Authority (INFO 176)
ASIC's consumer website Moneysmart also provides a step-by-step guide to resolving problems with financial services or advice, such as managed investments, superannuation and insurance.
ASIC receives reports about:
- inappropriate advice provided in relation to superannuation
- the conduct and disclosure obligations of superannuation trustees (but not SMSF trustees)
- delivery of deposit products
- delivery of non-cash payments
- delivery of life or general insurance.
For concerns about the financial soundness of superannuation funds and insurance funds contact the Australian Prudential Regulation Authority (APRA).
For concerns about life insurance, read Disputes about life insurance (INFO 218).
If you receive an offer to access your superannuation early, you may also want to contact the Australian Taxation Office, which can help you identify illegal conduct.
We welcome reports of misconduct if an insurer or superannuation provider has broken the laws we administer, but we will only contact you about your report if we need more information: