Credit control
Industry Funds Credit Control (IFCC)
Are you and your members missing out on millions in unpaid super contributions?
By law, employers must pay their employees’ super contributions on a quarterly basis with some awards requiring monthly payments. While most employers are diligent about making these payments on time, how does your fund handle those companies that aren’t?
During the 2007/08 financial year, IFCC collected more than $60 million of outstanding member entitlements on behalf of Industry Super Funds.
Collection
IFCC is the leading collector of outstanding debt for the industry super sector. The benefits of outsourcing your collection to IFCC include:
- Highly successful collections through demand phone calls
- Specialised operators with experience in many industries
- Client goodwill is maintained while collecting overdue payments
- Cleaning up of employer details for your records
- Cost-effective protection of member entitlements – we only charge for each successful collection
Insolvency
When companies are faced with insolvency (inability to pay their debts), outstanding staff entitlements might not be the first thing on the minds of management. IFCC can assist in making sure your members’ entitlements get paid by lodging proof of debt, attending creditors meetings and monitoring the progress until conclusion.
Litigation
In cases where our demand phone calls are not successful, legal action might have to be taken against an employer. We will always seek your advice before we proceed.
The preparation and issue of all litigation documentation is generated through our legal representatives and monitored by the IFCC Legal team.
Contact
Please contact David Gibson, Operations Manager, on (03) 9691 5301 for more information, or go to contact us for further contact details.
