Skip to Main Content

Important announcements

This page provides all the latest member announcements from Statewide Super.

Should you have any questions, please don’t hesitate to contact Statewide Super on 1300 65 18 65.

  • Open Letter to Statewide Super members regarding insurance

    7 May 2021

    Dear Members,

    In March 2021, we advised you that the Australian Securities & Investments Commission (ASIC) had announced an action against Statewide Super in relation to a self-reported insurance administration error.

    The response to the claims made against Statewide Super has been filed today. As a valued member, it is important that you learn of this directly from us.

    In the circumstances, Statewide Super considers that your interests, as a member, are best advanced by not contesting the allegations.

    What happened?
    In 2016, Statewide Super introduced a change to protect the retirement benefits of inactive members with balances of less than $4,000 from being eroded by insurance premiums.

    The insurance administration error related primarily to the implementation of this change in the administration system. As a result, some members were given incorrect information regarding insurance and may have been wrongly charged insurance premiums.

    Statewide Super self-reported the insurance administration error to ASIC, conducted a forensic examination and developed a remediation plan.

    Statewide Super’s original statement can be read below 'A Statement from Statewide Super'.

    What do you need to know?
    We will continue to progress our program of remediation, supported by independent, external experts. If you have been affected, we will communicate with you directly as soon as possible.

    All insurance entitlements will be honoured and any overpaid premiums will be refunded, along with investment earnings.

    Statewide Super has sought to cooperate with ASIC at all times. We did not intentionally provide any incorrect information to members in respect of their insurance statuses, nor intentionally charge incorrect insurance premiums to members. ASIC has also not alleged any dishonesty, fraud or intent to mislead or deceive members.

    Should you have any questions, please call us on 1300 651 865 or email us at info@statewide.com.au and our specialist team will get back to you.

    Putting members first
    We will continue to provide you with updates at www.statewide.com.au under ‘Resources’.

    Statewide Super is privileged to be in a position of trust to protect and grow your retirement savings, and we thank you for your loyalty.

  • A Statement from Statewide Super

    Statewide Super acknowledges today’s announcement of the commencement of civil proceedings by the Australian Securities Investments Commission (ASIC).

    The proceedings relate to a self-reported insurance administration error. The administration error occurred during a specific period of time and relates to a specific cohort of members.

    Statewide Super will communicate with and then remediate any affected current and former members as soon as possible and all entitlements will be honoured.

    Once Statewide Super discovered the nature of the insurance administration error, the organisation self-reported to ASIC, while conducting a forensic examination and developing a remediation plan. Statewide Super has actively sought to cooperate with ASIC at all times.

    Statewide Super continues to progress its program of remediation, supported by external experts.

    Statewide Super is a profit-to-member fund with member best interests at the forefront of everything it does. Statewide Super is privileged to service more than 143,000 members, 24,000 employers and manage more than $10 billion in funds under management.