Do You Have Your Superannuation Being Looked After By One Of The
Big Bank Retail Super Funds?
We Are Talking About AMP, MLC, Colonial and BT Among Others.
The Royal Commission into banking has revealed some of the extent to which you are getting ripped off.
These super funds are supposed to act in your best interest but the Royal Commission has made it abundantly clear that they often succumb to the temptation to look after themselves before you.
Example after example have shown they are taking your money for themselves through fees and charges on your account and wrongful paying out your money as trail commissions. Its unacceptable and needs to stop.
Now, of course, you can move your super elsewhere but what about getting back the money they should never have taken and bringing some of these organisations to account for the wrong they have done?
We are currently working with lawyers and litigation funders to investigate a number of potential class actions against the retail super funds to get you back the money that is rightfully yours. However, we need your help.
Some Of The Potential Claims Include
Fees For No Service
– Charging you fees for services you never got and/or never asked for or using your money to pay trail commissions to advisers when they didn’t have to and knew the advisers were doing nothing in return.
High Fees For Not Much
– Still charging you high fees when all or most of your money is invested in cash and just sitting in the bank.
Benefits To Related Bank Entities
– Putting your money with the parent entity bank on much reduced interest rates compared to what is available elsewhere.
All of this costs members like you money and reduces the amount you have left on retirement. You are entitled to get that money back. The Super funds know that individually you probably won’t do much about it but there is strength in numbers. We need as many people as possible to participate in relevant claims against their super fund (or possibly even former super fund). However, for now, we are happy for people to just register their interest to find out more. Once specific claims are commenced, we will be in contact to invite you to participate in any claims relevant to you.
There is zero obligation and it costs you nothing – we are reaching out to everyone simply because it doesn’t work unless everyone bands together (and the Super funds know it!).
If you register your interest, we will simply keep you in the loop about what is happening with the potential claims relevant to you and we will likely get in touch if your current or former super trustee is relevant to one of the potential claims being investigated.
Frequently Asked Questions
We are a group of like-minded people that have been outraged at the way the retail super funds have treated their members and want to see something done about it. We know the right lawyers and litigation funders to make it happen.
Simply put, this is a Court case where an entire class of people bring a claim that they probably wouldn’t bring by themselves. It allows justice to be done for the group when it otherwise might not.
Registering your interest costs nothing and even if you decide to get involved in a class against a super fund, the costs of that process are covered by a litigation funder and/or the lawyers involved so you aren’t out of pocket. Instead, you get to share in any settlement amount that is recovered from the super trustee on your behalf.
We are investigating a number of claims. If you are potentially a party to one of those claims, we will be in touch in due course to invite you to participate. Either way, we will keep everyone updated with any relevant information.
Your information will only used in connection with potential claims against the super funds which might include giving that information to the lawyers running the claim or the litigation funder that is paying for everything. Apart from that, it won’t be disclosed to anyone.
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