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With the new financial year started and the Protecting Your Super (PYS) laws now in effect, the Federal Government has turned its attentions to introducing the Putting Members’ Interests First Bill, a set of measures initially intended as part of the PYS legislation but removed from the final Bill.
The Senate Economics Committee has recommended that the Putting Members Interests First bill be passed, further restricting default insurance in super.
AFCA has been on a hiring frenzy to gear up for the expected influx of complaints, but it remains to be seen how many legacy complaints are eligible.
As anyone who’s been personally touched by cancer knows, fighting the disease amounts to much more than a bodily battle. In addition to the physical pain and discomfort generally brought on by surgery, medication and rounds of treatment, cancer takes a psychological toll as well.
The royal commission has revived the problem for insurers seeking to enforce remedies for non-disclosure breaches.
The countdown to the introduction of the Protecting Your Super (PYS) legislation is now well underway, with the changes set to come into effect at the beginning of next month.
According to Pain Australia, 1 in 5 Australians live with persisting pain – a rate that’s only set to rise as our nation’s population ages. It’s Australia’s third most costly health condition, and is a significant contributor of suicides.
Held last month, ASFA’s Spotlight on Insurance in Super conference put focus on the critical issue of society’s most vulnerable in terms of their insurance requirements.
