AMP
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 affected individuals (“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.
Update: Settlement reached – subject to Court approval
Piper Alderman and Shine Lawyers, on behalf of Group Members, have reached an agreement to settle the AMP Commissions & Insurance Class Action for a total sum of $29,000,000 inclusive of legal fees, costs, expenses, and any applicable taxes. The proposed settlement is without admission of liability and is subject to the approval of the Federal Court of Australia (the Court).
The proceeding was listed for a case management hearing on 22 April 2026. On this occasion, the Court approved the distribution of notices to potential Group Members about the proposed settlement. The notices will be sent by email or ordinary prepaid post to potential Group Members by 26 June 2026. The notices provide important information about the proposed settlement which may affect the legal rights of Group Members and the options available to them.
The Court has set a deadline of 4.00pm AEST on 10 August 2026 for:
- persons who registered or were deemed by the Court to have registered by 4 July 2025 to take steps to be considered for a payment under the proposed settlement. These steps are outlined in “Notice A” and “Notice B” of the Notices of Proposed Settlement that were sent to these persons.
- any Group Member who has not opted-out of the class action and disagrees with any aspect(s) of the proposed settlement and wishes to object must complete and submit a Notice of Objection to KordaMentha. This option is explained further in each of the notices.
Copies of the Notices of Proposed Settlement (headed “Notice A”, “Notice B” and “Notice C”) and the Notice of Objection can be downloaded below.
The Federal Court will hear the application seeking approval of the proposed settlement on 23 October 2026 at 10:15am AEDT in Melbourne. At the hearing, the Federal Court will consider whether the proposed settlement, including any proposed deductions for legal fees, costs and expenses incurred by the Applicants in bringing the class action, are fair and reasonable and in the best interests of Group Members. The Federal Court will also consider any Notices of Objection submitted by Group Members and may hear from those Group Members or their legal representatives.
Following the hearing on 23 October 2026, an email update will be sent to all persons who have completed a registration form (or a late registration form).
How do I register for payment from the proposed settlement?
If you have received “Notice A” of the Notice of Proposed Settlement, that is because you registered to participate in the class action. You must verify your details by completing all mandatory fields of your registration form by 4.00pm AEST on 10 August 2026. You can access your registration form by clicking here (or the “REGISTER” button on the EnterClaim website) and either creating an account or signing into your existing account. After you have created an account and/or signed in, you will need to enter the Unique Access Code included in the email or letter sent to you with Notice A. You will not be able to verify your details after 4.00pm AEST on 10 August 2026.
If you have received “Notice B” of the Notice of Proposed Settlement, this is because the court previously deemed you to have registered in the class action. You must now complete and submit a registration form by 4.00pm AEST on 10 August 2026 if you wish to seek a payment from the settlement. You can access the registration form by clicking here (or the “REGISTER” button on the EnterClaim website) and creating an account. After you have created an account and signed in, you will need to enter the Unique Access Code included in the email or letter sent to you with Notice B. You will not be able to register after 4.00pm AEST on 10 August 2026.
If you have received “Notice C” of the Notice of Proposed Settlement, this is because you did not register before 4 July 2025 but have since indicated a desire to register. If you wish to be considered for a payment under the proposed settlement, you must make an application to the Court before 23 October 2026 for permission to participate. You should seek independent legal advice if you wish to pursue this option.
Important Information
Participating in the claim will cost you nothing. The claim is being funded by international litigation funder, Woodsford, 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.
What is the AMP Commissions and Insurance Class Action claim about?
The applicants allege 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.
The Applicants 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.
This class action sought 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.
Additional Information
Please visit our EnterClaim website for more information: ampcommissionsclassaction.enterclaim.com
If you have any queries, you can contact KordaMentha who will be managing the AMP Commissions and Insurance Class Action enquiries on 03 9908 8905 or by email at [email protected]. To help us reduce costs that may be deducted from the settlement sum, we encourage you to read the above information, the EnterClaim Website and the settlement notices before contacting KordaMentha with an inquiry.
Privacy Policy
Shine Lawyers, Piper Alderman and KordaMentha will only use your personal information strictly for the purpose of the AMP Commissions & Insurance Class Action and in accordance with Shine Lawyers’ and Piper Alderman’s privacy policies.
A copy of Shine’s Privacy Policy can be accessed at shine.com.au/privacy-policy.
A copy of Piper Alderman’s Privacy Policy can be accessed at piperalderman.com.au/privacy-policy.
Copies of documents
Copies of documents relevant to the AMP Commissions and Insurance Class Action can be downloaded via the following links: