00:00From an office in far north Queensland, Alex Price-Bush helps First Nations people access their super.
00:08But it's not always possible.
00:10For clients who don't necessarily fit the mould of how the current system is,
00:15some people just give up and go without essentially.
00:18Those failures are highlighted in a new report.
00:21Well at the moment there's no real proactive approach to helping people identify who they are with a super fund in order to access their money.
00:29Just 69% of First Nations people have superannuation, compared to 87% of other Australians.
00:36They have a median balance of $22,000, which is just over a third of what other Australians hold.
00:42The research found only a quarter of respondents had access to a myGov or email account, while just 59% used the internet.
00:50We had one client who could not provide his ID, had no internet, phone, no utility bills to be able to prove who he was,
01:02and yet the super fund was still insistent on him just going online.
01:07The super industry has acknowledged the sector is deeply aware that for too long it has not met the needs of First Nations Australians.
01:14It has taken important steps, but more must be done.
01:17Earlier this year the Government introduced new standards for superannuation funds, including the need for clear, respectful and accessible communication with members.
01:26A spokesperson for the Assistant Treasurer and Minister for Financial Services said,
01:30once the standards have been implemented, they'll consider whether further reforms are needed to improve the services for First Nations people.
01:37To be continued...
