On 10 June 2026, the Australian Securities and Investments Commission (ASIC) issued Report 831 ‘Delivering on death benefits: Have super trustees stepped up?’ (REP 831).

Background

In November 2024, ASIC made a commitment to check in on the progress all superannuation trustees were making in improving their death benefit claims handling practices. A year later in November 2025 ASIC commenced an industry-wide review and issued compulsory notices to 45 trustees asking a series of questions about their actions to uplift death benefit claims handling. ASIC’s findings from the review are set out in REP 831.

Key findings

ASIC’s findings include that most trustees are taking steps to uplift their death benefit claims handling practices and are committed to taking further action. But some trustees have demonstrated lower levels of maturity and urgency in effectively considering and responding to ASIC’s findings which has affected overall progress in several areas where the regulator would have expected to see additional improvement.

ASIC has observed a reduction in the number of complaints to trustees about death benefit claims delays, noting that internal dispute resolution data shows a 53% fall in complaints from early 2024 to late 2025. ASIC has also observed modest improvements in claims handling times, with trustees experiencing higher claims volumes.

However, there is still considerable work to be done by trustees to meet the expectations of members, beneficiaries and the broader community. For example, REP 831 highlights the following areas where trustees should take action:

  • Measuring end-to-end claim times and holding themselves to account by setting performance targets that align to positive claimant outcomes.
  • Being responsible for their own risk appetite and customer impact in the processing of low-value and low-risk claims, especially the practice of claims staking.
  • Treating their members and claimants as customers, helping with proactive communications about the most important steps like making a valid binding death benefit nomination. This is of heightened importance where there are language and communication barriers.
  • Enhancing support for First Nations members and claimants, including updating identification and other practices that produce sub-optimal outcomes.

Next steps

Trustees should review the findings in REP 831, including the examples of better practice, and consider whether further improvements can be made for their members and claimants.

Trustees should also assure themselves that they have effectively engaged with, and implemented an appropriate response to, REP 831 and take action where they have fallen short.

ASIC will continue to monitor trustees’ progress in improving death benefit claims handling practices. Holding superannuation trustees to account for member service failures continues to be one of ASIC’s enforcement priorities. Where it identifies non-compliance, ASIC will consider the full range of regulatory tools available, including enforcement action.