Latest news with #MobStrongDebtHelp
SBS Australia
24-07-2025
- Business
- SBS Australia
Systemic barriers for Indigenous Australians in accessing pension funds
LISTEN TO SBS Indonesian 24/07/2025 05:18 Indonesian The independent research was commissioned by Super Consumers Australia alongside Mob Strong Debt Help and Impact Economics and Policy. It found that First nations citizens were twice as likely to be unable to access their pension funds, due to systemic barriers, including rigid policies, inaccessible customer service, and a lack of accountability. These barriers include things like rigid ID verification, digital-only processes, and a lack of cultural understanding. Listen to SBS Indonesian every Monday, Wednesday, Friday and Sunday at 3pm. Follow us on Facebook and Instagram , and don't miss our podcasts .
SBS Australia
23-07-2025
- Business
- SBS Australia
Systemic barriers locking Australia's First Nations peoples out of superannuation
New research has found the nation's $4 trillion superannuation system is failing Indigenous people. The independent research was commissioned by Super Consumers Australia with Mob Strong Debt Help and Impact Economics and Policy. It's found they are twice as likely to be unable to access their superannuation, due to systemic barriers including rigid policies, inaccessible customer service and a lack of accountability. These barriers are things like rigid ID verification, digital-only processes and a lack of cultural understanding. Alex Price-Busch is the Financial Counsellor at Indigenous Consumer Assistance Network (ICAN). He's told NITV there's an urgent need for reform. "Time and time again in our case work we have clients present to access money from - whether it's their own super that's been lost or for a family member who's passed away - and the amount of information required and in a lot of circumstances that's also legal requirements that they need to meet that they simply can't afford even to access smaller amounts of money." He says ICAN aims to create ways for First Nations people to navigate the system and engage more confidently. "One of the things the report has pushed for is to have a minimum set of customer service standards for super companies and their First Nations clients, I think that will be a great starting point. In addition to that, I think there will need to be better alternatives for things that take into consideration into differences for people that live in those remote communities, whether that is around digital literacy, or even their ability to make a phone call." Mark Holden is the Senior Solicitor from Mob Strong Debt Help. He's told SBS World News their statistics suggest only 69 per cent of First Nations consumers have a superannuation fund, compared to 87 per cent for their non-First Nations consumers. But for those who do have a super fund, rigid ID verification rules, culturally unsafe customer service and a reliance on digital-only processes means it can take months or even years to access their own money, if they are still alive. He says they also found First Nations consumers have a typical balance of less than $22,000 compared to $66,000 for non-First Nations consumers. "We see generations of First Nations consumers who aren't able to access their own money. This is money that's been held on trust for them during their time of need whether that may be for financial hardship, retirement or to pass on to the next generation." Mr Holden says many are denied access to their own money in retirement, during financial hardship or after the death of a loved one. The report also calls for adequately resourcing financial counselling and legal support on superannuation issues for First Nations peoples. "Any delay that we have prolongs intergenerational trauma that we give our mob and because this is the money that belongs to them, it belongs to them after their hard work over the years and it's supposed to be held in trust for them. It will be completely unreasonable and even unconscionable for super funds to be able to continue to circulate without providing First Nations consumers the help they need to be able to access their money when they need it." His advice to First Nations people would be to visit the government's Money Smart platform online or to speak to a local counsellor. He says it's important for them to take some time to go through their own super funds to see how they can access and prove their identity, and also for First Nations people to list their super beneficiaries.
West Australian
23-07-2025
- Business
- West Australian
Indigenous people left 'out in the cold' by super funds
Aboriginal and Torres Strait Islander people are being left "out in the cold" when trying to access their superannuation, consumer and Indigenous advocates say. Rigid identification policies, culturally insensitive customer service and a push towards digital systems mean many First Nations people are locked out of their superannuation, according to a report from Super Consumers Australia and Mob Strong Debt Help. Surveys of consumers in the Eastern Arnhem region and financial counsellors across Australia found more than half of Indigenous customers were unable to get through to their super fund, while 42 per cent did not understand the information they were given. Super funds often use jargon or complex language or don't have interpreters available, Mob Strong Debt Help senior solicitor Mark Holden said. "Financial counsellors try to be able to help out with the client to understand and try to advocate with the super funds, but the super funds don't accept their authority and leave both the financial counsellor and the client out in the cold," the Dunghutti man told AAP. People face similar barriers across remote, rural and urban communities, Mr Holden said, and the challenges are not unique to those customers surveyed. The system's rigidity also frustrates professionals working with communities, such as Indigenous Consumer Assistance Network financial counsellor Alex Price-Busch. He has spent on the phone to super funds and the Australian Tax Office on behalf of clients who struggle to access their super. "We see families fighting to claim death benefits while grieving. Many just give up because it's too hard," Mr Price-Busch said. Super Consumers Australia chief executive Xavier O'Halloran said the impact on resources is huge for financial counsellors dealing with these issues. "Some of the financial counsellors had told us they felt like they were working for the superannuation funds at times because they were spending hours on the phone dealing with really poor customer service processes ... having to teach the frontline staff at super funds what their actual obligations were," he said. Super funds do not have mandatory customer service standards, and Mr Holden says many lack any cultural safety standards or are not implementing them. This needs to change, says Mob Strong Debt Help, which also calls for better resourcing of financial counselling and legal support for First Nations people trying to access their superannuation. The organisation also wants the Australian Tax Office and super funds to provide culturally safe support and help with identity checks. "We need to see change now," Mr Holden said. "Any delay on this is going to further the intergenerational harm that our mob faces when it comes to superannuation."
Perth Now
23-07-2025
- Business
- Perth Now
Indigenous people left 'out in the cold' by super funds
Aboriginal and Torres Strait Islander people are being left "out in the cold" when trying to access their superannuation, consumer and Indigenous advocates say. Rigid identification policies, culturally insensitive customer service and a push towards digital systems mean many First Nations people are locked out of their superannuation, according to a report from Super Consumers Australia and Mob Strong Debt Help. Surveys of consumers in the Eastern Arnhem region and financial counsellors across Australia found more than half of Indigenous customers were unable to get through to their super fund, while 42 per cent did not understand the information they were given. Super funds often use jargon or complex language or don't have interpreters available, Mob Strong Debt Help senior solicitor Mark Holden said. "Financial counsellors try to be able to help out with the client to understand and try to advocate with the super funds, but the super funds don't accept their authority and leave both the financial counsellor and the client out in the cold," the Dunghutti man told AAP. People face similar barriers across remote, rural and urban communities, Mr Holden said, and the challenges are not unique to those customers surveyed. The system's rigidity also frustrates professionals working with communities, such as Indigenous Consumer Assistance Network financial counsellor Alex Price-Busch. He has spent on the phone to super funds and the Australian Tax Office on behalf of clients who struggle to access their super. "We see families fighting to claim death benefits while grieving. Many just give up because it's too hard," Mr Price-Busch said. Super Consumers Australia chief executive Xavier O'Halloran said the impact on resources is huge for financial counsellors dealing with these issues. "Some of the financial counsellors had told us they felt like they were working for the superannuation funds at times because they were spending hours on the phone dealing with really poor customer service processes ... having to teach the frontline staff at super funds what their actual obligations were," he said. Super funds do not have mandatory customer service standards, and Mr Holden says many lack any cultural safety standards or are not implementing them. This needs to change, says Mob Strong Debt Help, which also calls for better resourcing of financial counselling and legal support for First Nations people trying to access their superannuation. The organisation also wants the Australian Tax Office and super funds to provide culturally safe support and help with identity checks. "We need to see change now," Mr Holden said. "Any delay on this is going to further the intergenerational harm that our mob faces when it comes to superannuation."
SBS Australia
20-06-2025
- Business
- SBS Australia
Final call: Optus' exploitation of First Nations customers must be the last, say advocates
Optus has agreed to pay a $100 million penalty, subject to court approval, over conduct that saw many First Nations people from remote communities sold services they did not want or need. Credit: Mark Baker/AP Optus, the second-largest telecommunications company in Australia, admitted this week to engaging in unconscionable conduct when selling telecommunications goods and services to hundreds of consumers, many of whom were First Nations. Dunghutti man Mark Holden, a senior solicitor at Mob Strong Debt Help - a non-profit organisation that offers free finance-related legal advice to Aboriginal and Torres Strait Islander communities – says he hopes this is a wake-up call. 'This should be the final call now for the telecommunications industry to be able to shape up here and try to be more proactive, taking more practical steps to be able to end the harm to First Nations peoples here when it comes to the sale of an essential service," he said. Optus sold many First Nations people from remote services they did not want or need and has agreed to pay a $100 million penalty, after an investigation by the Australian Competition and Consumer Commission (ACCC). 'Oftentimes, we find that the conduct happens in areas where there's more likely to be vulnerable people living there," Mr Holden told NITV. "So remote communities, rural areas, but even as well, in some urban areas as well too, where First Nations peoples often are targeted. 'They might come in and just be looking for a typical charge cable, and they'll be then sold a couple of phones, a speaker, a console, iPads. "And they're just being charged all these fees, that just racks up quite fast.' Optus is not the first telco fined for wrongful conduct. Telstra was penalised $50 million in 2021 for unconscionable conduct when selling mobile contracts to Indigenous consumers. 'I think that if the sales model makes money, then other people will be doing it as well," Mr Holden said. 'Because Telstra was doing it, we just were not surprised when ACCC (Australian Competition and Consumer Commission) first announced that Optus was also doing this too. 'These are just two cases that we're looking at here, I wouldn't be surprised as well to if there are other telco providers here who could be doing the same thing.' As well as debt, the impact of the conduct can also lead to a lot of shame amongst mob. 'Besides the financial loss, here we have a lot of mob who are faced with this crippling debt," Mr Holden said. "And when it comes to debt, there's a lot of shame as well too. 'Sometimes there's a very, very strong fear of further action being taken against them, there's a fear of them maybe going to jail.' It's even left some people trying to access their superannuation to pay their debts. 'That's a very bit of extra harm here as well, too, that when people don't pay their debts, the telco can issue a default on the credit report, and that default can last for about five years from listing, and that can severely impact their ability to be able to take a loan, to be able to be able to support themselves," Mr Holden said. Optus is compensating impacted consumers for the period between August 2019 and July 2023, during which it agreed the alleged conduct took place. But Mark says it should go further. 'You want to be able to have a remediation program that looks at the entirety of the sales practices, so that even though we're looking at people who are affected in the period, we're looking at people who were affected before that and after that as well, too, people who've been treated the same way," he said. 'So that they also could get not only just a refund of what they paid, but also compensation with interest for the harm they suffered.' He says it should be a wake-up call for other industries too, as the pattern of exploitation isn't unique to the telecommunications industry. 'This is really a practice of exploitation, taking advantage of someone's vulnerability to their advantage," Mr Holden said. "Unconscionable conduct is not something that just telcos do. "There is a industry of exploitation where First Nations peoples can be targeted by people who might exploit their vulnerability to their advantage. 'There has to be a call to action to be able to stop this exploitation, to be able to actually start working with communities, to be able to try and provide them the products that they need for the for their communities.' Interviews and feature reports from NITV. A mob-made podcast about all things Blak life. The Point: Referendum Road Trip Live weekly on Tuesday at 7.30pm Join Narelda Jacobs and John Paul Janke to get unique Indigenous perspectives and cutting-edge analysis on the road to the referendum. Watch now
