What is the AMP Group Super Class Action about?
Shine Lawyers has commenced a class action against N.M. Superannuation Pty Ltd (NM Super), AMP Superannuation Pty Ltd (AMP Super), and Resolution Life Australasia Limited (formerly AMP Life Limited), on behalf of superannuation fund members who may have been unfairly charged excessive insurance premiums.
This class action alleges that NM Super and AMP Super, as trustees of various AMP superannuation funds, failed to act in the best interests of their members. Instead of sourcing competitively priced insurance policies from the broader market, they are alleged to have selected policies from a related party, AMP Life, even though similar cover was available elsewhere at lower cost.
As a result, members may have paid unnecessarily high premiums, leading to an erosion of their superannuation savings.
We allege that AMP Life was knowingly involved in these breaches of trustee duties.
The class action seeks compensation for members who were impacted by these practices between 30 June 2019 and April 2024.
Can I join the AMP Group Super Class Action?
You can join the AMP Group Super Class Action if between 30 June 2019 and April 2024:
You were a member of at least one of the following superannuation funds:
AMP Super Fund;
Super Directions Fund;
Superannuation Savings Trust;
AMP Retirement Trust;
National Mutual Retirement Fund; and
Wealth Personal Superannuation and Pension Fund.
AND
You had at least one of the following superannuation products:
Accelerator Personal Superannuation Plan
AMP Flexible Income Plan
AMP Flexible Super
AMP Flexible Super – Super, CustomSuper®
AMP Flexible Super® - Retirement
AMP MultiFund Flexible Income Plan
AMP MultiFund Superannuation Bond
AMP Retirement Savings Account
AMP Retirement Trust
AMP Super Rollover Plan – Personal Superannuation Bond
AMPAK Personal Superannuation Plan
Conventional Superannuation
CustomSuper
CustomSuper®
Endowment
Flexible Income Plan / Flexible Pension Plan / Flexipol Personal Superannuation
Flexible Lifetime – Allocated Pension
Flexible Lifetime – Protection (Superannuation)
Flexible Lifetime – Term Pension
Flexible Lifetime® – Allocated Pension, Flexible Lifetime –Super
Flexible Lifetime® – Super
Generations® Personal Super and Personal Pension
Goldline Personal Superannuation Plan
Guaranteed Super Pension
Income Insurance Superannuation Plan / Life Protection Superannuation Plan / Life Insurance Superannuation Plan
Investment Account Superannuation Bond
Investment Linked Personal Superannuation Bond
Investment Linked Personal Superannuation Plan
Investment Linked Superannuation Plan
ipac iAccess® Personal Super and Allocated Pension
Lifestyle Protection Plan / Superannuation Annual Renewable Term / Superannuation Life Protection Plan
MyNorth® Super and Pension
North® Super and Pension
Personal Superannuation Bond / Provider Personal Retirement Plan / Provider Top Up Retirement Plan / Retirement Bond / Retirement Security Plan
Personal Superannuation Plan
Portfolio Plan
Retirement Directions Allocated Pension Plan
SignatureSuper
SignatureSuper Allocated Pension
SignatureSuper Select
SignatureSuper®
Simple Super / Simple Super Rollover Plan
Summit® Personal Super and Personal Pension
Super Directions for Business / Super Directions for Business Rollover Section / Super Directions Personal Super Plan
SuperLeader®
Tailored Super / Tailored Super Rollover Plan
Term Life Insurance Superannuation
Whole of Life
Yearly Renewable Term
AND
You paid fees from your superannuation account for Death Insurance, Death & TPD Insurance and/or Income Protection Insurance (also known as Salary Continuance Insurance).
How to register for the AMP Group Super Class Action
To register on a confidential, no-cost, no-obligation basis, please click the button below and fill out the form.
Frequently Asked Questions
What is a class action?
What is a class action?
When Governments, large companies or institutions do the wrong thing and people are harmed or suffer loss as a result, an individual can have little to no means of bringing a legal claim.
Class actions are an important mechanism within Australia’s legal system that allow large groups of people to come together to pursue a claim collectively.
For a class action to take place, there are three criteria that need to be met:
There must be seven or more people that have claims against the same defendant; and
The claims relate to the same or similar circumstances; and
The claims must relate to at least one common issue of law or fact.
For more information about how class actions resolve, click here.
How long do class actions take to resolve?
How long do class actions take to resolve?
It can take up to several years for a class action to resolve. The time taken from case commencement through to resolution and settlement administration depends on the particular case, and the nature of the claim.
For more information about class actions and how they work, click here.
Does it cost anything to join a class action?
Does it cost anything to join a class action?
Shine Lawyers is committed to ensuring that everyone, regardless of their background or financial situation, has access to justice. We run our class actions in a way that means you are not exposed to any costs or financial risk, so joining a class action will cost you nothing.
When a class action is successful, the legal fees and costs to run the class action are deducted from the settlement amount that is approved by the Court. If the class action is unsuccessful, we will ensure there are no out-of-pocket costs to you.
Will my contact details be kept private?
Will my contact details be kept private?
Yes, your contact details will remain confidential and we will seek your consent before disclosing any of your personal information (including before such disclosure is required by the Court).
Shine Lawyers will only use your personal information strictly for the purpose of the legal proceedings.
Meet the AMP Group Super Class Action Team
Shine Lawyers’ AMP Group Super Class Action team includes some of the firm’s most experienced litigators, solicitors and support staff. You can learn more about the team running this class action by clicking on their profile below.
Why Choose Shine Lawyers?
In successful settlements and judgments
We have secured more than $1 billion in class action settlements and judgments for our group members.
years of collective experience
Our team includes the country’s most experienced class actions experts and litigators with the skill, industry insight and dedication to deliver the best possible outcomes for deserving Australians.
dedicated class actions team members
We are proudly one of the largest class actions teams in the country. Our senior practitioners are supported by a dedicated team devoted to the complex field of class actions.
