UniSuper Outage Raises Concerns Among Members
UniSuper members are growing increasingly anxious as the industry super fund's online outage enters its seventh day. Many are worried about the safety of their retirement savings and frustrated by the lack of information from UniSuper.
James Heath, a casual relief teacher from Victoria, is one of many members who have been unable to access their accounts since last Wednesday. He relies on the interest from his superannuation investments to supplement his retirement income and is concerned about the potential impact of the outage on his financial security.
Another retiree, who wished to remain anonymous, was planning to withdraw a lump sum from her UniSuper account to purchase a new car. However, the outage has prevented her from accessing her funds, leaving her in a difficult situation.
A couple from Bendigo, who also requested anonymity, are worried that they may have lost all of their superannuation savings due to the outage. They had already lost $150,000 in the 2021-22 stock market crash and are now facing the possibility of losing even more.
UniSuper has attributed the outage to a previously unknown bug in their private cloud service, which is being investigated by Google Cloud. However, members are frustrated by the lack of information and transparency from UniSuper regarding the cause of the outage and the potential impact on their accounts.
UniSuper has assured members that their pension payments will not be disrupted and that they can still access their accounts through the company's investments team. However, many members remain concerned and are calling for more information and accountability from UniSuper.