Short answer...NO...the banks will always find ways to fleece us & with ever more creative & hidden 'fees'

Shameful behaviour.

Terrible business rort

And not to sound like a demtel ad, "......but wait there's more....."

https://www.yourlifechoices.com.au/finance/superannuation/super-chief-describes-failed-product-as-top-rated/?user_id=C67FC6CAD2DDFAB4B42BA1F50C1AAE295AFB7425BD93FF9A3BCC955D506151D7&utm_medium=email&utm_campaign=YourLifeChoices%20Friday%20PM%20Update%208%20July%202022&utm_content=YourLifeChoices%20Friday%20PM%20Update%208%20July%202022+Version+A+CID_a3c01ca136d8971dc8f0766dbd1e9928&utm_source=campaign%20monitor&utm_term=not%20all%20trustees%20can%20be%20trusted

That does not help the youngsters of today as it's what makes them comfortable in their retirement.

Personally I don't believe it is a rort, just abysmal record keeping. Now they will have to pull their socks up, the incentive being the $1.7 million fine.

The best way is to close your account and see how they go trying to get monies.

Alternative is to send in a change of address for correspondence. If the policy holder has passed away give the change of address as the current location at a cemetery. ie niche wall location. Only show as unit, say 12 with the street number of the cemetery . The street name NEVER what the purpose of the street number .ie a Cemetery

An example lot 12 185 Whitfords Avenue, Whitfords.        This is the location of Pinnaroo Cemetery

Worth some fun and games at their expense. Any accounts being chased up by some one chasing money. Ie Telstra as they will not take your word the account holder has passed away and will always require the person who has passed away to confirm such and no longer needs the account for a phone.

Us oldies again!!!!!!