'Promise to do better': Super giant Cbus ordered to pay $23.5m fine

'Promise to do better': Super giant Cbus ordered to pay $23.5m fine

Superannuation giant Cbus will pay a $23.5 million fine after admitting it breached the law over major delays in its handling of insurance claims.

Cbus trustee must pay $23.5M in ASIC case over delayed death benefits

Save (0) Please login to bookmarkClose Username or Email Address Password Remember Me A judge has ordered trustee United Super to pay $23.5 million after admitting it was liable for excessive delays in processing $20 million in death and disability claims. Subscribe to Lawyerly to access this article.Already a subscriber? Username or Email Address Password Remember Me Lost your password? The post Cbus truste…

Cbus to pay $23.5m penalty

One of the country's biggest superannuation fund trustees will pay a $23.5 million penalty after more than 7,000 of its members experienced unreasonable delays.

Superannuation giant fined $23 million for delaying death pay outs

Federal Court slams CBUS Super with $23.5M fine for unreasonable insurance claim delays, affecting thousands of grieving members.

Judge Orders Cbus to Pay $23 Million Penalty

One of Australia’s largest superannuation fund trustees will have to pay a $23.5m penalty for “systemic and unreasonable delays in handling insurance claims”. The Federal Court found that serious failures by United Super Pty Ltd – trustee of the Construction and Building Unions Superannuation Fund (Cbus) – led to lengthy processing delays for thousands of […]