Hostplus says fraud is the reason there have been delays in processing claims. Hostplus wishes to emphasise at the outset and clearly that it has never employed tactics designed to slow the processing of ER payments to its members. Such an allegation is demonstrably false and has no factual basis.
I can reassure you that Hostplus is and will remain very focussed on delivering outcomes that are in the best interests of all of our members, and that includes processing and getting to those of our members in particular need their approved early rele3ase payments as quickly as we can, whilst equally ensuring that payments are made accurately, safely and securely.
95% of those requests have to date been paid within 5 days of us being notified of an approved request by the ATO. This fact demonstrates unequivocally our commitment and success so far in ensuring that ER payments are made quickly and in compliance with APRA best practice guidelines. While we are pleased we've been able to help so many members who've made the tough decision to access their super, we very much understand and empathise with those limited number of members whose early release payments are taking longer to process and get to them.
We had a Royal Commission (2017) into banking, superannuation and financial services. Perhaps we need a dedicated RC just for superannuation? Investors need to know about this 'rampant rise in fraud', let's see it!
Rei Super anyone Stay away
Hostplus
You do realise the Fed Govt and ATO have put a hold on Early superannuation access, while they investigate alleged fraud?