Update: Opt Out Deadline 15 June 2023
The opt out period for the QSuper Class Action ended at 4:00PM on 15 June 2023.
The Federal Court of Australia sent Notices to all potential group members of the class action advising of their right to opt out of the class action, and thereby lose any right to compensation.
If you missed the opt out deadline and would like to discuss the impact of this with a member of our team, please direct your enquiries to qsuper@shine.com.au.
What is the QSuper Class Action about?
Shine Lawyers allege that QSuper breached their obligations by failing to notify members of important changes to life insurance policy premiums.
The changes related to Occupational Rates and members’ entitlements to elect Standard Rates, White Collar Rates, and Professional Rates. As a result of the alleged failure to sufficiently communicate these changes, thousands of QSuper members:
Were charged significantly more for their life insurance than they should have been; and
Suffered superannuation investment losses.
If you had a QSuper superannuation account from May 2016 or received a payment after 1 July 2016 from a deceased fund member, you may be eligible to join this class action.
Can I join the QSuper Class Action?
To be part of this class action, you must:
Have held an Accumulation Account with QSuper Fund on 17 May 2016, and been entitled to Standard Rates, White Collar or Professional Rates* (Fund Member);
OR
Be acting on behalf of a deceased Fund Member;
OR
Have received payment from a deceased Fund Member at any time after 1 July 2016;
OR
Have received a transfer from a Fund Member, pursuant to an order or settlement in a Family Law Act 1975 (Cth) proceeding.
If you meet the above criteria, you may be entitled to compensation, and you are encouraged to register your interest in the QSuper Class Action.
Frequently Asked Questions
How do I know if I've been overcharged by QSuper?
If you are unsure whether you were incorrectly over charged for your QSuper life insurance policy, we encourage you to register in the QSuper Class Action. Our experienced Class Action Team will assess your eligibility to ensure that you receive the compensation you are entitled to.
Am I still eligible if I no longer have a superannuation account with QSuper?
If you held a QSuper superannuation account in May 2016, or received a payment after 1 July 2016 from a deceased fund member, you may be entitled to compensation. In order to potentially recoup the financial loss you have suffered, you are encouraged to register in the QSuper Class Action.
What is a Standard Rate, White Collar Rate, and Professional Rate?
“Standard Rate” - Applicable if you were between the ages of 17 and 39 as at 1 July 2016, or at some point during the period of 1 July 2016 to 24 November 2021.
“White Collar Rate” - Applicable if you spend 80% of your time in an office or classroom environment performing primarily administration or managerial duties.
“Professional Rate” - Applicable if you are university educated relevant to your occupation, or a senior manager working in an office with an annual salary of $120,000.00 or more.
How do class actions work?
There are three criteria that need to be fulfilled for a class action to take place:
There must be seven or more people claiming;
The claims must arise out of the same, similar, or related circumstances; and
The claim must relate to at least one common issue of law or fact.
Class actions in Australia work on an opt-out model. This means that all potential claimants become group members of the action whether they intend to participate or not. These group members are bound by the judgment of the court or settlement unless they opt-out. The group members in a class action are usually notified about the class action by order of the Court.
Due to the size of each individual claim, the costs of running this action as an individual would quickly exceed the potential damages recoverable. As each group member’s claim involves many common questions of fact and law, running this action as a class reduces the average cost of litigation to a client by only addressing the common issues once at trial, instead of multiple times.
How long do class actions take to resolve?
Every class action is unique, so the length of time needed to resolve a class action will vary depending on the circumstances of the case.
Generally, the first stage of the proceedings can take between one to three years. Unless a settlement is reached, the first stage will only resolve the representative’s claims and the common issues of the proceedings, with group member claims to be resolved individually at a second stage of the proceedings.
How much will it cost me to join the QSuper Class Action?
It costs you nothing to join the class action. Group members will have no liability for legal costs if the class action is unsuccessful.
Meet the QSuper Class Action team
Shine Lawyers’ QSuper 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.
