AMP Limited announced on 15 September 2025 that they have reached an agreement to settle the class action lawsuit for $120 million. Australians who are AMP super members or affected due to excessive fees can learn about the settlement proceedings and find out when they can claim it.
AMP Class Action Settlement 2025
AMP Limited, a major Australian financial service company, was alleged to charge excessive administration fees from the superannuation members. The class action lawsuit claims the funds were kept in a cash-investment-only account, which led members to receive less interest.
The legal firms Slater and Gordon and Maurice Blackburn are working jointly and initiated the case in 2019. The lawsuit claims the defendant has put the group interest above the superannuation members’ interest and affected the members, as they could have obtained much higher interest in the open market.
Now it’s a great win as the defendant has agreed to the $120 million settlement. The settlement will compensate the millions of Australians who trusted AMP with their retirement savings. It’s a relief for millions of Australians affected by administration fees on their funds between 2008 and 2020.
The settlement is not finalized yet; it would need the court’s approval to take its real shape, so affected AMP members should wait for the final approval.
Who will receive the AMP Class Action Settlement 2025?
The defendants have agreed to the settlement, so if the court approves the settlement and starts the compensation drive, you can expect to meet the following conditions to receive the payout:
- You must be an AMP Superannuation member from the 2 million members between 2008 and 2020.
- You must have a super account with AMP, other than the Mature product or the platform fund from July 01, 2008 (for members of AMP retirement trust, AMP Superannuation Savings Trust, or eligible rollover fund and March 20, 2011, for Super direction fund members.
What’s next in the AMP class action settlement?
The AMP class action settlement update says that the defendant will pay $75 million, and the remaining funds will be covered by the insurance. The defendant has been trying to recover the money from the insurance and succeeded in receiving $44 million.
AMP is still in talks with insurers to receive the money and offset the compensation money. The hearing regarding the insurance recovery was held in August 2025; now the settlement has been announced.
The AMP $120 million settlement is subject to federal court approval, meaning it is yet to be finalized. Once the court grants its approval, the settlement will begin legally, and the claim details, including class member eligibility, compensation, and claim process, will be released.
For now, you do not need to do anything to receive the claim. However, the further process will be out once the approval is granted. Slater and Gordon will provide the update about the AMP class action settlement, and may send the settlement notice, which will have all the information about your rights.
How to stay updated about the AMP class action settlement?
Slater and Gordon have filed a lawsuit against the AMP, and are leading the court proceedings with another firm. The firm requests the AMP Superannuation members affected due to the high administrative fees, and wishes to get an update on the class action to register on their official website.
You can register your interest in the class action settlement and receive an update on the settlement once the court approves or makes a decision on the proposed settlement. Here you can follow the steps below to register your interest in the AMP Class action settlement:
- Visit the Slater and Gordon website page at https://www.slatergordon.com.au/class-actions/current-class-actions/amp-super-class-action
- And, click the Register your interest option, enter your name and basic information.
- Once you submit and agree to the policy and submit the form, you can expect an email update from the firm about the settlement process.
The APM affected superannuation members who were affected due to the high administrative fees between 2008 and 2020 should keep an eye on this class action settlement to stay updated about the payout and federal court decisions.
The compensation and eligibility conditions for the settlement are yet to be finalized, so wait till the court approves the settlement based on the grounds of fairness, reasonable price, and other factors for the affected seniors.