A group proceeding (class action) brought on behalf of members who held accrued default amounts in MasterKey Super products that were transferred into MySuper products on 3 December 2016 or 25 March 2017. The plaintiff alleges that the defendants, the trustees of the super funds, breached their duties as trustees by failing to transition the accrued default amounts to the lower-cost MySuper product in a way that was timely and in the best interests of those members.
The deadline for opting out has now passed.
Please note that the deadline for opting out has now passed.
If you are, or you think that you may be a group member, you should read the documents below carefully. The Notice (a copy of which is below) contains important information about your rights to opt out of the proceeding. The definition of a "group member" is set out in the Notice.
If you fall within the category of a group member and do not opt out by the deadline, you will remain a group member in this proceeding.
Defence to Further Amended Statement of Claim filed 22 June 2022
Further Amended Statement of Claim filed 19 May 2022
Funding Information Statement filed 6 July 2023
Class Action Summary Statement filed 6 July 2023