Superannuation Fund mishandling

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kharchange

Member
1 August 2020
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Hi everyone,

I have recently had an issue with my super fund.
I have switched my investment plan online and I received confirmation email that my switch is successfully processed.
After about 2 weeks I checked my account online and noticed that my investment hasn't been updated.
After several phone calls and following it up for about 2 months they finally responded saying that your switch didn't go through because you have cancelled it few minutes after your switch request.
This obviously wasn't true. I had not cancelled it and I have not received any email notifying me of this cancellation.
This accident caused significant loss in my investment.
I officially complained to Super fund, but they didn't accept their fault.
I escalated my complained to AFCA and requested super fund to compensate for my loss and they still don't take responsibility. AFCA has given me last chance to provide my argument for the case before they can provide their verdict.
Can anyone give me legal advice on how to proceed to fight for my right?

Thanks for anyone who give me some advice and input.
 

Rod

Lawyer
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27 May 2014
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What State are you in?
 

Rod

Lawyer
LawTap Verified
27 May 2014
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AFCA has given me last chance to provide my argument for the case before they can provide their verdict.

Get your facts together and ensure everything is in order. You will likely need to reference the terms of the superannuation deed, and their policy/ies around switching investments in your response to AFCA. You need to show that what the super fund did is wrong.
 
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kharchange

Member
1 August 2020
4
0
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OK. Now I have prepared my arguments to AFCA and ready to send. My question is:

Is that ok to mention in that response that "I will take this matter to court, media and my local MP should AFCA reject my claim"?
 

Rod

Lawyer
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You can, however most organisations are used to this kind of statement and will likely assume you are bluffing.
 

Smiley

Well-Known Member
1 April 2015
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If as you say AFCA is giving you a "last chance" to support your statements, then it infers the Super fund has transactional evidence of some type in order for AFCA to keep it in. Without this evidence, based on the limited information provided, this would generally proceed to a meeting between AFCA you and the Super fund.

You could also request a copy of this transactional evidence or any other information the Super fund of yours provided to AFCA to review. Otherwise without any supporting evidence from you, unfortunately it is only hearsay. Best of luck.