HESTA Super Freeze To Affect Over 1 Million Australians Until June
More than 1 million Australians with the superannuation fund HESTA will be unable to access or move their retirement savings until June due to a planned system outage.
The freeze stems from the fund's decision to switch its administration provider, a move first flagged to members in February.
HESTA is transferring its member account services to a new platform managed by GROW Inc., prompting what it describes as a necessary suspension of services, reported ABC.
Despite the advance notice, consumer advocates are warning that many members may be caught off guard by the extent of the disruption.
A HESTA spokesperson confirmed that income stream payments due in April or May would be paid early, with regular payments expected to resume by mid-May. Only urgent payments will be considered during........
© International Business Times
