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ASIC criticizes major Australian pension funds for poor service and delays in death benefit claims.
The Australian Securities and Investments Commission (ASIC) criticized Australia's largest pension funds for poor customer service and excessive delays in processing death benefit claims, affecting grieving families.
ASIC filed lawsuits against major funds and made 34 recommendations for improvements, including faster response times.
The review highlighted a focus on investment returns at the expense of proper customer support.
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ASIC critica a los principales fondos de pensiones australianos por servicios deficientes y retrasos en las solicitudes de prestaciones por muerte.