AMP super fees class action

Maurice Blackburn has filed a class action on behalf of all AMP superannuation fund account holders.

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The claim alleges that the AMP trustees and AMP Group companies contravened a number of statutory and/or general law obligations, which resulted in AMP members being overcharged administration fees for an extended period of time.

Anyone who held one or more superannuation account(s) with AMP at any time from 30 May 2013 can sign up now for our class action. At this stage we do not need details of the fees you paid on your AMP superannuation account(s).

If you are looking for our shareholder class action against AMP, please click here.

Case Developments

On 20 August 2019, the Court made orders consolidating our proceeding and another proceeding. The consolidated proceeding is known as Dale Robert Alford, Sebastian Smith, Anne Cooper and Jodie Mitchell v AMP Superannuation Limited and others (VID572/2019) (Consolidated Proceeding).

The consolidation means that the class action will now be conducted by both Maurice Blackburn and another law firm acting jointly pursuant to an agreed cooperation protocol. All representative applicants will continue to act in their representative capacity.

The litigation funders in both proceedings will provide funding support in the Consolidated Proceeding. In consideration for the funding, the litigation funders are entitled to a funding commission on monies recovered in the proceeding.

As a result of the joint proposal reached by the applicants, the funding commission payable to the litigation funders will be left to the Court to decide at the time of settlement, according to what is fair and reasonable.

In ordering consolidation, the Court also made common fund orders, which means that the Funding Terms bind all eligible group members in the Consolidated Proceeding, regardless of whether they have entered into a funding agreement with the litigation funders or retained Maurice Blackburn or the other firm of solicitors. This means that all group members who ultimately participate in the class action will contribute in equal proportion to the costs of running the proceeding.

The consolidation and common fund orders, including the Funding Terms, are downloadable here.

How do I join?

To sign up, you must access the Client Portal here.

As part of the sign up process, you will be asked to provide information about your AMP superannuation fund account. It will be useful if you have a copy of a recent AMP superannuation statement at hand. 

Contact us

We are currently receiving a high volume of enquiries in relation to this class action. We will respond to your calls and emails as soon as we can and thank you for your patience. 

If you are having difficulties in completing the form, please contact us at AMPSuperfees@mauriceblackburn.com.au  or on 1800 270 813. 

FAQs - your questions answered

Maurice Blackburn is Australia’s leading class action law firm.  We have achieved the nation’s biggest ever class actions recoveries, with eight of our largest class actions recovering in excess of $100 million each. Collectively our class actions have recovered over $2.6 billion in compensation for victims of wrongdoing.

Signing up to the AMP Super Fees Class Action will not expose you to any out of pocket costs. Unless and until there is a successful outcome, all costs will be borne either by the lawyers or the litigation funders in the Consolidated Proceeding. In the event of a successful outcome, any costs payable to either the lawyers or the litigation funders will be deducted from, and will not exceed, any compensation that you are entitled to receive.

Nothing.

Under the terms of the Funding Agreement, Harbour Fund IV L.P will pay any costs order which may be made against the class representative (in Australia, the losing side in litigation is typically ordered to pay a proportion of the winning side’s costs) and will provide any security for costs ordered by the Court. Further, if you are a class member only and not the class representative (the person in whose name the proceeding will be brought), an adverse costs order may not be made directly against you in respect of the class action.

If you held one or more superannuation account(s) with AMP at any time from 30 May 2013, you are automatically a group member in the action and you are not required to do anything. You will be legally bound by the outcome unless you take steps to opt out.

We encourage you to sign up with us now however, so that we can keep you updated on progress and assist you with any steps you may need to take.

Yes. There is a 21 day cooling off period under both the Retainer and Costs Agreement and Funding Agreement, which stipulates that you may terminate each agreement by providing notice in writing.