What is the Asgard and BT Super Insurance Class Action about?
Shine Lawyers has launched a class action against BT Funds Management Ltd (BT), Westpac Securities Administration Limited (WSAL) and Westpac Life Insurance Services Limited (now TAL Life Insurance Services Limited) on behalf of Asgard and BT superannuation fund members who may have been wrongfully overcharged for their insurance.
It is alleged that between October 2017 and April 2023, BT and WSAL did not act in the best interests of their members when obtaining group insurance policies.
It appears, despite there being evidence of equivalent or substantially better policies available through other insurers for cheaper premiums, BT and WSAL chose to obtain these policies from one related party - Westpac Life Insurance Services Limited - meaning members of their superannuation funds seem to have paid unreasonably higher premiums.
We understand that hundreds of thousands of BT and WSAL superannuation members have had their superannuation eroded as a result of BT and WSAL’s alleged misconduct.
Can I join the Asgard and BT Super Insurance Class Action?
You may be entitled to compensation as a member of the Asgard and BT Super Insurance Class Action if you have been a member of at least one of the following superannuation funds between October 2017 and April 2023:
Generic MySuper
Westpac Group Plan MySuper
BT Super for Life
BT Lifetime Super – Employer Plan
BT Retirement Selection
BT Super
BT Lifetime Super – Personal Super
Asgard Employee Superannuation Account MySuper
Asgard Employee Superannuation Account
eWrap Super Account
eWrap Pension Account
Elements Super Account
Elements Pension Account
Infinity eWrap Super Account
Infinity eWrap Pension Account
ASGARD Superannuation Account
Advance Reitrement Suite Super
Beacon Superannuation Plan
BT Business Super MySuper
BT Business Super
Westpac Lifetime Superannuation Service
BT Superannuation Savings Fund
Westpac Personal Superannuation Bond
Westpac Personal Super Investment Plan
Westpac Personal Superannuation Plan (1987/1990 and 1978/1990 Staff Version)
and paid fees from your superannuation account for Death Insurance, Death & TPD Insurance and / or Income Protection Insurance (also known as Salary Continuance Insurance).
If you meet the conditions above, you may be entitled to compensation, and you are encouraged to register your interest in the Asgard and BT Super Insurance Class Action.
How to register for the Asgard and BT Super Insurance Class Action
To register your interest in the Asgard and BT Super Insurance Class Action on a no-cost, no-obligation basis, please click the button below.
Frequently Asked Questions
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 7 or more people that have claims against the same defendant; and
The claims relate to the same or similar circumstances; and
The claim 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?
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?
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?
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 Asgard and BT Super Class Action team
Shine Lawyers’ Asgard and BT 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.
