Centrepay deductions for Aboriginal Community Benefit Fund (ACBF) funeral insurance will stop
The Full Federal Court of Australia has accepted our decision to stop Centrepay funeral insurance payments to the ACBF.
In May 2015, the Government announced that funeral insurance products would no longer be supported by Centrepay, subject to a 12 month grandfathering period for existing deductions.
This change was introduced to protect vulnerable customers from funeral insurance products. The ACBF is the only business using Centrepay for funeral insurance.
In June 2016, ACBF was successful in asking the Federal Court to reverse this decision. As a result ACBF Centrepay deductions were not stopped.
The department appealed this decision to the Full Federal Court. The department’s appeal was successful.
This means we will now proceed with plans to cancel any remaining ACBF funeral insurance deductions. We will be in touch with affected customers shortly, to let them know when this will happen. We will support affected customers in their transition to new arrangements.
If you want to keep your ACBF funeral plan, contact ACBF to work out a new way to pay them.
You can contact ACBF by:
- calling them on 1800 622 924, or
- emailing firstname.lastname@example.org
If you do not make new arrangements with ACBF, your payments to ACBF will stop when deductions are cancelled. If you don’t pay or miss a payment, you may not be covered if someone under your plan dies.
If you want to stop your deductions to ACBF now, you can cancel your Centrepay deductions:
- using your Centrelink online account through myGov
- by calling your payment line number, or
- by visiting a service centre
If you're looking for other ways to pay for funerals using Centrepay, the following options are available:
- pre-paid funerals
- funeral bonds
- savings plans
Read more about other ways to pay for funerals on the MoneySmart website.
If you’d like free advice about funeral insurance and how to manage your money better, talk to a local financial counsellor.
Read more news for Indigenous Australians.