Why Is the AMP Class Action Important?
The Australian government has increasingly focused on accountability and reform, particularly in the financial services sector. The AMP Super Class Action Trial scheduled for May 26, 2025, is a major legal event that may impact thousands of Australians. This case targets AMP Superannuation entities for allegedly charging excessive and uncompetitive fees over several years. The trial’s outcome could reshape how fiduciary responsibility is handled in Australia’s superannuation fund industry.
What Is the AMP Super Class Action Case About?
Filed in 2019, the class action involves allegations against:
- AMP Superannuation Pty Ltd
- N.M. Superannuation Pty Ltd
- AMP Life Ltd
- National Mutual Life Association of Australasia Ltd
The case claims these entities charged excessive fees that were not determined at arm’s length, leading to unfair financial burdens on fund members. The fees in question relate specifically to accounts held under:
- AMP Superannuation Savings Trust
- AMP Retirement Trust (from July 1, 2008)
- Super Directions Fund (from March 30, 2011)
Trial Schedule and Key Updates
As of the latest updates:
- Trial Date: May 26, 2025
- Court: Federal Court of Australia
- Lead Law Firm: Maurice Blackburn
- Status: On Trial
Maurice Blackburn has completed the evidence preparation with the help of industry experts. The court has ordered the firm to issue opt-out notices for group members. Funding for the litigation has been secured through Harbour Fund IV L.P., and group members face no cost risks if the case is unsuccessful.
Who Is Eligible to Join the Class Action?
You may be eligible if you:
- Held one or more AMP Superannuation accounts
- Were a member of the AMP Superannuation Savings Trust or AMP Retirement Trust from July 1, 2008, or the Super Directions Fund from March 30, 2011
Anyone meeting these criteria can register at any time via mauriceblackburn.com.au.
Court Funding and Cost Arrangements
- No Upfront Costs: Group members do not pay to participate.
- If Successful: Legal and funding costs will be deducted from any compensation awarded.
- If Unsuccessful: No adverse cost orders apply to individual group members.
This model is designed to protect participants while ensuring fair representation.
Frequently Asked Questions (FAQs)
No. Participation is free. Costs are deducted only if the action is successful.
Nothing. You will not pay anything. The litigation funder covers the costs.
You are automatically included if eligible, but registering ensures you get updates and assistance.
If you held an AMP Super account from 2008 (or 2011 for Super Directions), you likely qualify.
Register your details with Maurice Blackburn to stay informed and receive support.
Final Thoughts on the AMP Super Trial 2025
The AMP Super Class Action is one of the most significant legal proceedings in Australia’s recent financial history. It underscores the importance of fairness and fiduciary responsibility in superannuation fund management. The result could set a precedent for future class actions in the financial services sector.
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Affected individuals are encouraged to register and monitor updates closely through the official website. For more information, visit mauriceblackburn.com.au.