Lost Members And Unclaimed Monies - Compliance And Member Retention Opportunities
Lost Member and Unclaimed Money processing has formed part of a superannuation trustee’s administration and reporting obligations for many years, but its evolution in recent years has created a raft of complexity and uncertainty for superannuation trustees and administration service providers.
Not only are there significant penalties for non-compliance, but the unprepared trustee risks losing members if not adequately equipped to proactively engage with and retain their member.
In this article, we summarise the main requirements and identify some key considerations for superannuation trustees when managing and retaining their Lost and Unclaimed members.
Jessica Pomeroy - Senior Regulatory Consultant
QMV Legal
Lost Members And Unclaimed Monies - Compliance And Member Retention Opportunities
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