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The AMP Commissions & Insurance Class Action

The AMP Commissions & Insurance Class Action was commenced in the Federal Court of Australia, Victoria District Registry (Federal Court) on behalf of all individual (“group members”) against three AMP Limited financial advice licensees: AMP Financial Planning Pty Limited (AMPFP), Charter Financial Planning Limited (Charter), Hillross Financial Services Limited (Hillross), as well as AMP Limited and Resolution Life Australasia Limited (formerly AMP Life Limited (AMP Life)). Together, they are the Respondents in this class action.

The class action is being run jointly by Shine Lawyers and Piper Alderman.

The claim

It is alleged that financial advisers appointed as authorised representatives of AMPFP, Charter and Hillross (who may have operated under other business names) breached their obligations to group members by failing to give priority to their clients’ interests or act in their clients’ best interests. This is because the Respondents allegedly:

  • incentivised those authorised representatives through commissions and other benefits to recommend financial and insurance products, including AMP Life Products (Commissioned Products) to their clients;
  • failed to inform their clients that they could obtain substantially equivalent or better insurance policies than the AMP Life Products from alternative insurers for lower premiums;
  • by their conduct, likely caused their clients to pay higher insurance premiums; and
  • failed to implement systems and processes to ensure that their authorised representatives complied with their duties to their clients.

It is also alleged that authorised representatives charged Ongoing Service Fees (OSFs) to clients for contractual services under an AMP Ongoing Service Package on or after 23 July 2014, but some group members did not receive those contractual services.

Damages sought

This class action seeks compensation for the:

  • commissions paid on Commissioned Products;
  • excess premiums paid by some group members on AMP Life Products (Excess Premiums); and/or
  • OSFs charged to some group members for services they did not receive,

during the period of 23 July 2014 to 15 February 2021, as a result of the financial advice given to group members by authorised representatives, and the conduct of the Respondents.

Opt out and registration 

This class action has now reached the opt out and registration stage.

Although a class action can be commenced without the consent of group members, all group members must be given the opportunity to “opt out”.

Opting out means that a person:

  • ceases to be a group member in the class action; and
  • loses the opportunity to receive any compensation that may be available in this action (either from a settlement or judgment), but keeps their legal right to seek compensation in any action they may start themselves (subject to any applicable time limits).

Group members are given the opportunity to opt out of the class action by being formally notified of this opportunity in an opt out notice approved by the Federal Court.

Opt Out

Opt out notices approved by the Federal Court are being sent to potential group members in this class action by email or post, and are also accessible via the links below:

The Court has set a “class deadline” of 4pm AEST on 4 July 2025. The class deadline is the date by which:

  • group members who have not already registered to participate in this class action (or been deemed by the Federal Court to have registered), must register if they wish to have their claim considered as part of an upcoming mediation in the proceeding (due to occur by 14 November 2025); or
  • any group member must opt out of the class action if they do not want to participate in the proceeding. To opt out of the proceeding, group members must complete and sign the Opt Out Notice (Form 21) and return it to the Victoria District Registry of the Federal Court of Australia. It must not be sent to Piper Alderman.

Register

If you obtained, renewed or retained financial and insurance products, including AMP Life Products, through a financial adviser or authorised representative of AMPFP, Charter or Hillross, you may be eligible to join the class action.

To register on a no-cost, no-obligation basis, click [here] to be redirected to the new EnterClaim Registration Portal, or visit: ampcommissionsclassaction.enterclaim.com.

Important Information

Participating in the claim will cost you nothing. The claim is being funded by international litigation funder – Woodsford Litigation Funding –on a no-win-no-fee basis, meaning you will not be required to pay any money to be part of the claim or to receive compensation.

The AMP Life Products provided cover for one or more of the following: Death, Total and Permanent Disablement, Trauma, Loss of Income (or Temporary Salary Continuance) and Business Overheads, and included the Flexible Lifetime – Protection, Flexible Lifetime – Super, AMP Flexible Super – Flexible Protection and AMP Flexible Super – Super Protection policies.

Commissioned Products included the AMP Life Products and other insurance and financial products, such as PortfolioCare Pension Service, PortfolioCare Investment Service, Whole of Life Plan, Endowment Personal Super Plan, AMP Children’s Endowment Insurance, AMP Elevate Income Insurance Plan, and AMP MyNorth Super.

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