In today's Daily Financial Services News Wrap, Paige Estritori discusses various happenings in Australias financial sector. A dispute involving the Australian Financial Complaints Authority and a policyholder highlights the need for better understanding of insurance policy terms. Acenda, a highly respected life insurer, won four awards at the recent ALUCA Life Insurance Excellence Awards, showcasing their exceptional customer service and industry innovation. Also discussed, is the potential rebound of Sydneys property market as a result of a surge in auction clearance rates, although an increase in property listings may temper this growth. Lastly, with the Superannuation Guarantee contributions rising to 12% from July 1st, Australians need to make thoughtful decisions to fully benefit from compounding in their retirement savings. The trade-offs, such as potential pay reductions, are also touched upon.
