One of Australia's biggest super funds is freezing services until June
www.abc.net.au
HESTA won't process super contributions, regular withdraws, investment switches and insurance claims until June, due to a system changeover. Consumer advocates and members have expressed concern about the freeze on funds.

In short:

Members of HESTA will be unable to access most services until June, as the superannuation fund undertakes a planned outage to change its administration provider.

Advocacy group Super Consumers Australia says members are “rightly worried” about the lack of services, which follows recent market volatility.

HESTA has more than 1.05 million members and around $88 billion in funds under management, making it one of Australia’s largest funds.

  • No1@aussie.zone
    3·
    11 days ago

    If they mentioned the freeze before they actually froze, they would never have been able to freeze from the volume of rollovers/funds going out.

    • MHLoppy@fedia.ioOP
      3·
      11 days ago

      Can you imagine what a crapshoot it’ll be if their system migration goes badly X_X