IFSO Scheme Complaints process

Please see this diagram to help understand our process


1. Making your complaint

When the IFSO Scheme receives the completed IFSO Scheme Complaint Form and letter of deadlock we will be able to obtain your file from the Participant. By signing the Confidentiality Provisions in the Complaint form, you agree to keep all information provided to you by the IFSO Scheme absolutely confidential. An IFSO Scheme Case Manager will review the Participant's file, and decide whether your complaint comes within our jurisdiction and we can investigate your complaint. 

2. Investigation

After your complaint is accepted for investigation, an IFSO Scheme Case Manager will contact you. The Case Manager will consider the information provided by you and the Participant and any expert advice, if required.  The IFSO Scheme takes an inquisitorial approach and the Case Manager will make further enquiries, if required.

3. Resolution

The IFSO Scheme will decide the method and process to be used to resolve your complaint, including: negotiation, conciliation and mediation.  

4. Decision

The Case Manager may help you to resolve your complaint during discussions with you and the Participant, which is a settlement.  If the complaint cannot be settled, the Case Manager will make a decision. If you and the Participant accept the decision, the IFSO Scheme will close your file.

You or the Participant are eligible for a review of the decision, if there is relevant new information or other grounds for doing so.

A written review of the complaint by the IFSO is called a Recommendation.

  • If you and the Participant accept the Recommendation, your file will be closed.
  • If you do not accept the Recommendation, your file will be closed and you can refer your complaint to a court or any other disputes resolution process.  Your rights are not compromised by making a complaint to the IFSO Scheme.

Complaints the IFSO Scheme can consider

We can investigate complaints about a Participant of our Scheme relating to:

  • house, contents, vehicle, travel, health, income protection and life insurance; superannuation; investments; financial advice or planning (including brokers); loans and credit; and any other financial services provided by a Participant.
  • breaches of contract, statutory obligations, industry codes 
  • complaints by small businesses

 We cannot investigate complaints about:

  • amounts in dispute over $200,000, or $1500 per week for a product that provides regular payments
  • awards of damages
  • third party or uninsured losses
  • financial service providers' commercial decisions, including: returns, premiums, charges, excesses, and underwriting decisions
  • complaints which are, or have been, the subject of proceedings in another forum e.g. a decision has already been made in the courts or that have been settled in mediation
  • a financial service provider which is not a member of the IFSO Scheme