Aus Super in $400K overcharging error
ONE of Australia's biggest superannuation funds accidentally overcharged 21,000 customers, triggering it to reimburse almost $400,000.
The overcharging was picked up during a "quality checking process" as member statements were being sent out, AustralianSuper told The Courier-Mail.
AustralianSuper, an industry fund, said that it had sent out about 2.1 million statements via email and post in September and October last year.
"During a quality checking process about 1 per cent of statements (21,000 member accounts) were identified as having something that needed to be investigated and potentially resolved before the statement could be sent out. Any outstanding statements to existing members were lodged on 2 January," an AustralianSuper spokesman said.
The spokesman described the error as a "one off issue" involving people being overcharged the standard administration fee. The average overcharging was less than $20, he said.
Accounts were reimbursed and statements went out with the problem rectified, he said.