The AMP Superannuation Class Action is entering a crucial phase, with its trial scheduled to begin on May 26, 2025, in the Federal Court of Australia. This litigation involves serious allegations against AMP superannuation entities, which are accused of breaching their fiduciary responsibilities by charging members excessive and non-competitive fees over several years. The class action was filed in 2019 and is being led by Maurice Blackburn Lawyers, with financial support from a third-party litigation funder.
The case has garnered national attention as it directly affects thousands of Australians who held superannuation accounts managed by AMP between 2008 and 2021. Central to the dispute is the assertion that AMP trustees failed to act in the best interest of fund members by continuing relationships with related-party service providers without seeking better market alternatives. The outcome of this trial could redefine standards of conduct for superannuation trustees across the country.
This is not merely a compensation-focused lawsuit—it represents a broader call for accountability within the financial services sector. In the wake of the Royal Commission into Misconduct in Banking, the AMP trial serves as a high-profile example of regulatory scrutiny and a push for systemic reform. The judgment could influence regulatory policies and the operational framework of the entire superannuation industry in Australia.
Understanding the Legal Dispute and Its Broader Impact
At the heart of the AMP class action lies the allegation that AMP trustees engaged in related-party transactions without ensuring competitive pricing. It is claimed that AMP’s superannuation entities failed to seek tenders or engage in independent benchmarking when contracting with in-house or related service providers. This practice, according to the plaintiffs, resulted in members being charged higher fees than they would have otherwise paid in an open market.
The case focuses on three specific AMP-managed funds: the AMP Superannuation Savings Trust, the AMP Retirement Trust, and the Super Directions Fund. The legal team alleges that inflated fees were charged from July 1, 2008, and March 30, 2011, depending on the fund, through arrangements that were not independently verified or negotiated at arm’s length.
This case is significant for multiple reasons. It could deliver direct compensation to affected members and also prompt broader reforms in fund governance. The fiduciary duty of superannuation trustees is a cornerstone of Australia’s retirement savings system, and any failure to uphold it may have wide-reaching consequences beyond financial redress.
Trial Timeline, Legal Representation, and Pre-Trial Developments
Following years of investigation, document gathering, and witness examination, the case is now heading to trial. The Federal Court has confirmed that the hearing will begin on May 26, 2025. Over the last year, Maurice Blackburn, the lead law firm, has completed the submission of expert reports and collaborated with litigation funder Harbour Fund IV L.P. to manage costs for group members.
Below is an overview of critical information concerning the legal process:
| Legal Attribute | Detail |
|---|---|
| Trial Start Date | May 26, 2025 |
| Jurisdiction | Federal Court of Australia |
| Lead Law Firm | Maurice Blackburn |
| Litigation Funder | Harbour Fund IV L.P. |
| Pre-Trial Milestone | Opt-out notices issued, evidence finalized |
| Current Case Status | Trial confirmed and scheduled |
Maurice Blackburn has issued opt-out notices to all group members as directed by the court. This ensures that only those interested in participating remain within the class. Those who choose to remain in the action do not need to take any additional steps unless further notice is provided during or after the trial.
Who Is Covered Under the Class Action? Participant Eligibility Explained
Group membership in this class action is determined by AMP account ownership within specific timeframes. Individuals who held one or more qualifying superannuation accounts under the specified trusts may be considered group members, provided their accounts were active during the relevant dates.
The eligibility criteria include the following conditions:
- Individuals who were members of the AMP Superannuation Savings Trust or AMP Retirement Trust at any time on or after July 1, 2008.
- Those who held accounts under the Super Directions Fund on or after March 30, 2011.
- Participation is automatic unless a member chooses to formally opt out by the date provided in court notices.
To provide a clear snapshot of qualifying membership, refer to the table below:
| Eligible Fund Name | Membership Start Date |
|---|---|
| AMP Superannuation Savings Trust | From July 1, 2008 |
| AMP Retirement Trust | From July 1, 2008 |
| Super Directions Fund | From March 30, 2011 |
Those eligible are encouraged to register their interest on Maurice Blackburn’s official portal to receive timely updates, although this step is not mandatory to remain in the group. Registered participants will be notified of major trial developments and compensation announcements if the case succeeds.
How the Case Is Being Funded and What It Means for Members
One of the central concerns for potential participants in class actions is the cost. Fortunately, this case follows a litigation-funded model, which protects class members from legal financial exposure. The case is fully backed by Harbour Fund IV L.P., a major litigation funder, meaning no upfront or ongoing legal fees are payable by individual claimants.
The funding agreement also stipulates that if the case is unsuccessful, no group member will be required to contribute to legal costs or bear adverse cost orders. If the case is successful, a percentage of any awarded compensation will be allocated to cover legal and funding costs before distribution to class members.
- Equal access to justice for affected individuals without personal financial risk
- Professional legal representation by an experienced class action firm
- Court oversight on legal fee deductions to ensure fairness and transparency
This legal structure makes participation viable for thousands of Australians who would otherwise be unable to contest financial giants like AMP through individual litigation.
What Compensation May Look Like and Long-Term Implications
While the precise payout amount will depend on the court’s judgment and supporting financial analysis, preliminary estimates suggest that compensation could be significant. The class action seeks damages based on the difference between what AMP members paid in fees versus what they might have paid under competitive, market-based contracts.
- Industry-wide fiduciary reform: This trial may lead to clearer legal definitions of fiduciary responsibilities for super trustees.
- Stricter related-party regulations: If AMP is found liable, similar internal arrangements in other super funds may come under scrutiny.
- Increased disclosure requirements: Trustees may face new mandates for transparent reporting of service provider arrangements.
Although any financial remedy will take time—possibly extending into 2026—participants could benefit both from direct compensation and broader changes that strengthen superannuation governance in Australia.
What You Should Do If You’re Affected
If you suspect you held an AMP superannuation account during the eligible timeframes, consider taking the following steps to stay informed and protect your potential entitlement:
- ✅ Review your past superannuation records for AMP fund involvement between 2008 and 2021
- ✅ Register on Maurice Blackburn’s website to receive updates, documents, and hearing results
- ✅ Read the opt-out notice if you’ve received one and decide whether to stay in the group
- ✅ Monitor official trial updates via Federal Court bulletins or legal news platforms
These steps can ensure you remain part of the proceedings and are eligible for any distribution should the case result in a favorable outcome for group members.
A Pivotal Moment in Australian Superannuation Oversight
The AMP Super Class Action is far more than a court battle over fees. It signals a growing expectation that superannuation trustees be fully transparent, competitive, and accountable in how they manage member funds. As the May 26, 2025 trial nears, both investors and regulatory bodies will be watching closely to see how Australia defines fair treatment in one of its most important financial systems.
For thousands of AMP customers and the broader superannuation community, this trial could pave the way toward a fairer, more transparent future.