One of Australia's biggest super funds is freezing services until June
www.abc.net.au
HESTA won't process super contributions, regular withdraws, investment switches and insurance claims until June, due to a system changeover. Consumer advocates and members have expressed concern about the freeze on funds.

In short:

Members of HESTA will be unable to access most services until June, as the superannuation fund undertakes a planned outage to change its administration provider.

Advocacy group Super Consumers Australia says members are “rightly worried” about the lack of services, which follows recent market volatility.

HESTA has more than 1.05 million members and around $88 billion in funds under management, making it one of Australia’s largest funds.

  • hitmyspot@aussie.zone
    3·
    11 days ago

    This is ridiculous and should not just be a class action. There should be prosecutions for inadequate measures to protect people’s assets.

    The assets are bigger than most people’s bank account balance, so why aren’t they able to at least be as good as those shit apps and access.