Super Consumers Australia welcomes AFCA decision to pause complaint deadlines

Super Consumers Australia has welcomed the Australian Financial Complaints Authority’s (AFCA) decision to pause key complaint deadlines, giving Australians more time to seek compensation over losses linked to the Shield Master Fund and First Guardian Master Fund.

The decision means people who invested in Shield and First Guardian will have more time to lodge complaints about poor financial advice. Under AFCA’s rules, complaints can only be accepted if the business involved remains an AFCA member. When memberships expire, people can lose access to compensation. The pause provides critical breathing space for affected Australians.

Super Consumers Australia CEO Xavier O’Halloran said the move was a practical and compassionate response to a complex situation.

“Pausing these deadlines is the right call. Many people still don’t know they are affected. Others are still trying to understand what’s happened to their retirement savings, and they need time to get advice and prepare a complaint.”

“This decision recognises that consumers should not be locked out of the complaints system simply because they were caught up in a complex web of misconduct.”

Mr O’Halloran said access to dispute resolution is an essential consumer protection.

“AFCA plays a vital role in making sure ordinary Australians can challenge financial misconduct without going to court. Extending these deadlines helps ensure people are not unfairly shut out.”

“We encourage anyone affected to use this additional time wisely and lodge their complaint as soon as possible. Making a complaint sooner improves your chances of getting money back faster.”

Super Consumers Australia continues to support impacted members through the Take Your Super Back campaign website, which outlines key steps for lodging a complaint with AFCA.