A warning, this story contains a reference to suicide and includes the name and images of someone who has died. With badly behaving super funds under the spotlight, more allegations have emerged about poor treatment of members, particularly those from first nation’s communities. One family is speaking out about their years dispute with the country’s largest fund, in the hope their cautionary tale will lead to change.
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00:00Annette Riley's son knew this Western Australian coastline well.
00:07She's still grappling with his death by suicide.
00:11He was only 36 at the time.
00:14During the COVID pandemic, her son Warwick Deegan applied for his superannuation.
00:21When he didn't receive it, he called Australian Super.
00:24You don't have any other bank accounts?
00:26No, I don't. I might have to rush into the bank or something.
00:31Australian Super paid an account provided by the tax office.
00:35But after his death, ANZ confirmed $10,000 was paid to someone else's account.
00:41It is upsetting because he was going to the bank just about every day.
00:45They don't match the account name with the BSB and account number.
00:50And it's really frustrating.
00:52The family is also fighting to have death benefits reinstated.
00:56Months before Mr Deegan died, Australian Super cancelled the cover because his account was inactive.
01:03Two warning letters were returned to sender.
01:06Exercise some compassion.
01:08Realise that they've done the wrong thing by this family.
01:11And pay the $180,000 death benefit.
01:15The financial ombudsman disagreed, finding Australian Super had acted fair and reasonably.
01:21Australian Super maintains it followed all laws and processes correctly, but says systemic changes are needed.
01:28They should pay the death insurance for my granddaughter.
01:32The regulator says failure on death benefits is widespread.
01:36We found that the service failings and the gaps that many members and their families have been facing into were amplified or exacerbated with the First Nations members.
01:47So, let's look at this.
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