UniSuper BlamesGoogle Cloudfor Prolonged Outage Affecting Members

UniSuper, an Australian superannuation fund, has been experiencing a whole-of-business outage since the beginning of the week, leaving 648,000 members unable to access their accounts. The fund is working with Google Cloud to resolve the issue, which is not related to a cyber-attack or data breach.

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UniSuper BlamesGoogle Cloudfor Prolonged Outage Affecting Members

UniSuper BlamesGoogle Cloudfor Prolonged Outage Affecting Members

UniSuper, one of Australia's largest superannuation funds with over 648,000 members, has been grappling with a whole-of-business outage since the beginning of the week. The disruption has left members unable to access their online accounts, use on-site super calculators, alter investment allocations, or make withdrawal requests. The fund has also confirmed that payments cannot be processed from employers during this time.

Why this matters: The prolonged outage of UniSuper's services has significant implications for the financial security of its members, many of whom rely on timely access to their retirement savings. This incident also raises concerns about the reliability of cloud computing services and the potential risks of outsourcing critical infrastructure to third-party providers.

According to UniSuper, the issue stems from a third-party service provider, which has been identified as Google Cloud. The fund stated that it is "actively partnering" with Google Cloud to resolve the problem. UniSuper assured members that the disruption was not a result of malicious action or cyber-attack, and no member data was exposed to unauthorized parties.

As of Friday, May 3, UniSuper's online services remain down. In an update to members, the fund stated that it is "unable to confirm a timeline for restoration." customers, super, accounts UniSuper apologized for the disruption and promised to work around the clock to get systems back online swiftly, safely, and securely.

The Financial Services Union (FSU) criticized UniSuper's decision to outsource roles in the delivery and information business unit, which is now working to fix the problem. customers, super, accounts took to social media to express their frustration with the outage and delay in correspondence from the super fund.

UniSuper is one of Australia's largest superannuation funds, with approximately $124 billion in assets under management and around 615,000 members as of June 2023. The fund has assured members that it is working diligently to resolve the outage and restore full access to their accounts and services. However, the prolonged nature of the disruption and lack of a clear timeline for resolution have left many members frustrated and concerned about their retirement savings.

Key Takeaways

  • UniSuper, Australia's largest super fund, experiences whole-of-business outage.
  • Members can't access accounts, alter investments, or make withdrawals.
  • Outage caused by third-party provider Google Cloud, not cyber-attack.
  • No timeline for resolution, leaving 615,000 members frustrated.
  • UniSuper apologizes and promises to work around the clock to resolve issue.