Fair and reasonable – superannuation complaints In a superannuation complaint, we consider whether the decision of the trustee or insurer, in its operation in relation to the complainant, or the conduct, was fair and reasonable in all the circumstances.4 We cannot make a determination that would be contrary to law or the governing rules of a superannuation fund, or the terms and conditions of an a. [...] AFCA subtracted the benefit the complainants obtained from The AFCA Approach to misleading conduct Page 10 of 14 the lower interest rate on the new loan from the amount of the break fee the lender charged them to determine their net financial loss from the mortgage manager’s error. [...] The insurer did not mention a blanket mental illness exclusion during the call, nor was it referred to in the summary of the application later sent to the complainant or the welcome letter. [...] AFCA was of the view the trustee provided the complainant with potentially misleading information as the consultant's statement was vague and could be interpreted to mean fees were the same in both the employer and personal plans. [...] AFCA found it was unreasonable for the complainant to rely on the phone call in circumstances where at the time of completing the transfer form the complainant The AFCA Approach to misleading conduct Page 12 of 14 declared she consented to the fees in the PDS, alerting her to the applicable fees for the personal plan.
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- Australia
