Maurice Blackburn has filed a class action on behalf of all AMP superannuation fund account holders.
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.
If you are looking for our shareholder class action against AMP, please click here.
Am I eligible to join the class action?
You can register for the class action if you held one or more superannuation account(s) with AMP at any time from:
- 1 July 2008 for members of the AMP Superannuation Savings Trust, AMP Retirement Trust, or the Eligible Rollover Fund;
- 30 March 2011 for members of the Super Directions Fund, National Mutual Retirement Fund, Wealth Personal Superannuation and Pension Fund, or The Retirement Plan.
If you are unsure which fund you are (or were) a member of, or if you are having difficulties in completing the form, please contact us at AMPSuperfees@mauriceblackburn.com.au or on 1800 270 813 for assistance. To enable us to assist you, please have available any documents you possess relating to your superannuation account(s).
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.
We continue to make significant progress in this proceeding.
Throughout 2020 and 2021, we obtained access to and reviewed further tranches of discovery. These documents have improved our understanding of the respondents’ practices and will enable us to further build upon and refine our case against them. In December 2020, the Respondents were ordered to produce further tranches of documents.
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 and under the supervision of a Court-appointed costs referee. 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.
When ordering consolidation, the Court also made common fund orders, which meant that the Funding Terms bound all eligible group members in the Consolidated Proceeding, regardless of whether they had entered into a funding agreement with the litigation funders or retained Maurice Blackburn or the other firm of solicitors. This meant that all group members who ultimately participated in the class action would contribute in equal proportion to the costs of running the proceeding.
However, on 18 December 2019, the Court set aside the common fund orders following a High Court decision in an unrelated case which concluded that section 33ZF of the Federal Court of Australia Act 1976 (Cth) did not empower the Court to make common fund orders at the commencement of proceedings.
At the case management hearing on 4 September 2020, we informed the Court that we would be seeking common fund orders at the conclusion of the proceedings.
The consolidation and now set aside common fund orders, including the Funding Terms, are downloadable here.
Frequently asked questions
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.
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 1 July 2008, 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.
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.
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