NAB MySuper Group Proceeding (Class Action)

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.