AMP facing into 2019 superannuation class action | Australian Markets
Members of AMP superannuation funds have been reminded of an ongoing class action initiated in 2019 over charges.
The Federal Court has ordered the problem of a discover relating to the class action being run by law corporations Slater and Gordon and Maurice Blackburn on behalf of present and former members of the AMP Superannuation Fund.
The discover offers people recognized as members or former members of the AMP funds till 23 May to both take part within the class action or decide out.
The class action, relationship back to 2019, covers present and former AMP superannuation fund members in opposition to AMP Superannuation Pty Limited (previously AMP Superannuation Limited) (ASL), N.M. Superannuation Pty Ltd (NMS), AMP Life Limited (AMP Life), AMP Services Limited (AMP Services) and the National Mutual Life Association of Australasia Limited (NMLA).
The Federal Court doc stated the declare seeks to get well compensation for group members who maintain or held an AMP superannuation account(s), different than a Platform Fund or Mature Product, at any time from:
- a) 1 July 2008 for members of the AMP Superannuation Savings Trust, AMP Retirement Trust, or the Eligible Rollover Fund; or
- b) 30 March 2011 for members of the Super Directions Fund.
The class action alleges that the superannuation fund trustees set charges and prices on an inside foundation that was not at arm’s size with the consequence that the charges weren’t aggressive.
AMP has denied the allegations and is defending the declare.
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