Suncorp Super Class Action

What is the Suncorp Super Class Action about?

The class action was commenced in the Supreme Court of New South Wales (NSW) by the Plaintiff on behalf of all “Group Members” against Suncorp Portfolio Services Limited (SPSL), as trustee of the SPSL Master Trust (formerly known as the Suncorp Master Trust), Geoffrey Edward Summerhayes, and Sean Carroll.

The subject of this class action concerns certain fees charged by SPSL to superannuation accounts and certain payments made by SPSL to Financial Services Providers (including financial advisers) relating to the period 1 July 2013 to 21 June 2019.

Settlement of the class action and progress update

Please click here to view the Court’s judgment and click here to view the Court’s orders approving the settlement of the class action.

All attempts at payment in the Suncorp Super Class Action by the Settlement Administrator have now been finalised.

The first attempt at payments to Registered Group Members (eligible claimants) in the class action were made across late March and early April 2023. Following this process, updated payment details were sought from Registered Group Members whose payments in the first attempt were not successful, with secondary attempts at payment completed in early October 2023.

If you are eligible to receive monies in the Class Action but have not yet received payment, this will be due to you providing us incorrect payment details or no payment details at all.

For those Registered Group Members (eligible claimants) in the class action who have not been successfully paid (and who did not request payment via cheque), your claims have been lodged with Revenue NSW as unclaimed money. You are able to apply to retrieve your claim by following the steps outlined on the following webpage: https://www.revenue.nsw.gov.au/unclaimed-money/search-and-make-a-claim.

Where your claim has been lodged with Revenue NSW, we have provided your first name, last name, date of birth, SDS-Number (i.e., SDS-XXXXXX), and last known address per our claimant database. You may be required to provide some or all of this information when applying to retrieve your claim with Revenue NSW.

As (we) the Settlement Administrator are no longer in possession of the unpaid claims in the Class Action, please direct all questions on the unclaimed monies application process to Revenue NSW via their website linked above.

If you elected to receive your distribution in the Class Action via cheque, you will have until 5 March 2024 to present your cheque in order to receive your funds. Any unpresented cheques as of 5 March 2024 will be cancelled with the amounts lodged with Revenue NSW as unclaimed money.

Information you provide will be held by KordaMentha in accordance with KordaMentha’s privacy policy. The policy is available on the website or at KordaMentha’s offices.