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ACBF companies

The ACBF Companies no longer exist

In early March 2022 all the ACBF funeral companies went into liquidation. This means the companies and the funeral plans do not exist anymore.

We know this is difficult news for many people.

The ACBF funeral companies are:

  • Aboriginal Community Benefit Fund No. 1 (Fund 1)
  • Aboriginal Community Benefit Fund No. 2 (Fund 2)
  • Aboriginal Community Funeral Plan (the Plan)Aboriginal Community Benefit Fund (ACBF)/Youpla

All plans with ACBF (Fund 1, Fund 2 and The Plan) to pay for a funeral are cancelled.

Most of the money paid to Fund 2 and The Plan is gone.

The Australian Financial Complaints Authority has stopped making decisions about ACBF complaints.

Stop bank payments to ACBF

Fund 2 stopped taking payments on 22 February 2022. The Plan and Fund 1 stopped taking payments on 22 March 2022.

Ask your bank to check payments have stopped. Any over-payments will be refunded. You should contact the liquidator if you have made an overpayment.

Fund 1

The company that runs Fund 1 is in liquidation. It still has some money in the bank.

You might be able to claim some money in the liquidation process. This might take some time.

You should contact the liquidator.

Government Scheme

The Government has opened the Youpla Group funeral benefit program. If a loved one passes, and they were a member of ACBF/Youpla on 1 April 2020, the Federal Government will pay eligible beneficiaries for their funeral up to the benefit amount of their ACBF/Youpla policy.

Further information can be found at www.treasury.gov.au/youpla or call 1800 296 989.

Getting more information

You should register your contact details with the liquidators, SV Partners, for updates.

The liquidators can also tell you which fund you were paying into.

Call Legal Aid NSW for further advice on 1300 888 529

This is intended as legal information only.

Sept 2022