Superannuation Claims
Everyone knows these days that their employer is required to make compulsory contributions to a superannuation fund on their behalf. What many people don’t realise is that in addition to their own account balance that they have built up over time they may have very valuable insurance cover as well for total and permanent disablement (TPD). If you look at your Membership Benefit Statement (before you ceased work) you will see the amount of TPD cover you have listed separately to your account balance.
What many people don't realise is that if they can't work because of injury or illness then they could be entitled to claim this lump sum amount for TPD. That is in addition to their account balance and in addition to any other benefits they may have already received at for example workers compensation.
At Firths we specialise in claiming TPD lump sums for our clients who can no longer do their normal job because of accident or illness.
In our experience superannuation funds almost always refer these claims to an insurance company who nearly always knock them back. Most people take it no further but, as those who come to us are finding out, there is a lot more that can be done.
In fact, in one of our successes, the Supreme Court found that the trustee, namely Club Plus Superannuation Pty. Ltd “simply went along with the decision of the insurance company” when it considered 18 claims in 57 minutes and declined every one of the claims. Of course, the judge had no difficulty determining that Club Plus Superannuation Pty Ltd had breached its legal duties owed to our client.
Until recently this was the approach of most insurers and trustees largely because they had been getting away with it for years. However in the last few years, since we began to challenge these decisions, things have begun to change.
We have been successful now in a number of cases where the insurance company and superannuation fund have been directed to pay out substantial lump sum TPD benefits to the member.
Indeed so successful have we been that we are now finding that in most cases they are paying up without us even having to commence court proceedings!
Even if you have a claim with other solicitors for total and permanent disablement benefits, it is not too late for you to change over to us. In fact, in September 2008, we were requested by someone to take over their case two weeks before it was listed for hearing in the Supreme Court. We did so, and after five days in court, we were successful. The only offer made by the trustees before we took it over was $2,500. Now the client is eligible to receive over $500,000 in lump sum benefits.
So if you are no longer able to work or cannot perform all the duties of your usual occupation full time you may be entitled to substantial lump sum benefits in addition to your superannuation account balance.
Remember at Firths the Compensation Lawyers
we’ll make them pay!
Call Firths TOLL FREE on 1800 631 888 today!
