Australiansuper fined $ 27 million to overload members, violates the law
Listen to the article Australiansuper, the largest retirement fund in Australia, has been affected by a fine of $ 27 million, after the federal court found that tens of thousands of members had over $ 69 million. Charges come from Australiansuper’s failure to merge double members accounts, which have caused financial damage over a period of almost a decade. The federal court’s ruling, delivered by Justice Lisa Hespe, found that Australiansuper already knew in 2015 that members had double accounts, but did not work immediately to resolve the issue. Between July 2013 and March 2023, about 90,000 members were affected
