The Slater & Gordon law firm has taken on the huge task of investigating and filing a class action against ANZ Bank and its former subsidiary OnePath Custodians.

The allegations concern a breach in superannuation trustee duties. This isn’t the first class action aimed at pursuing financial institutions over misconduct. Four class actions preceded the ANZ & OnePath case, all of which are a part of a bigger campaign.

The ANZ & OnePath class action contains two major allegations.

The first is that the trustees charged excessive fees to pay lucrative and problematic commissions to numerous financial advisers. The result of which led to high costs and zero added benefits to those who paid.

The second allegation is that the trustees failed to appropriately invest the funds people have been paying in over a certain period of time. These funds were deposited to ANZ, instead of searching for the option with more favourable interest rates, meaning the members received inadequate returns.

Is a Class Action Worth It?

Strategies employed by ANZ & OnePath had a meaningful and hurtful impact on many. However, with class actions, they can take years to settle and the settlement amount is usually much lower than the total of the group members who purchased individual premiums. Unfortunately, when you join a class action, you also give up your right to recover compensation as an individual if you’re unsatisfied with the outcome.

Get My Refund takes a different approach, we focus on each victim individually and work in the best interest of our clients. We’ll help manage the entire process for you and work towards helping you win the maximum refund. 

Who Is Eligible for the Refund?

You might be able for a refund if you were associated with any of the following products before 30 June 2013 and up until 1 July 2013:

  • ANZ Super Advantage
  • OnePath OneAnswer Pension or Personal Super
  • ANZ OneAnswer Pension or Personal Super
  • OptiMix Pension or Superannuation
  • Integra Pension or Superannuation

Also, you might be eligible for a refund if you were associated with any of the products listed below from 1 September 2011 to 1 February 2020:

  • OnePath OneAnswer Pension or Personal Super
  • OneAnswer Frontier Pension or Personal Super
  • ANZ Smart Choice Super, Pension and MySuper
  • ANZ Smart Choice Employer Super
  • ANZ OneAnswer Pension or Personal Super

 

Get My Refund will fight for every cent you're owed.

We specialise in reclaiming money for consumers by investigating your individual situation to get back what you are owed if you were mis-sold, even if your loan is still current or has been paid out within the last 10 years.

Australia’s Opt-Out Model

The opt-out model applies to class actions in Australia. Under the precedence, all persons affected automatically become members of the relevant class action. Members will be legally bound by the settlement or court’s decision unless they had previously opted out of the proceedings. Group members will have no comment on settlement offers, settlement sum amounts and how much is shared with all other group members and waiver of rights to ever complain directly.

On the contrary to opt out, If you also do not opt in you are not likely to receive part of any group settlement sum. This continues to be a problem, by not receiving a notice then fails to inform recipients that they are members of the class action.

How Do You Opt Out?

If you do not want to take part in this class action, you have to opt out before the stipulated deadline. Anyone who does not want to participate in the class action would have had to complete their opt-out form and mail it to the relevant Federal or Supreme Court by that date. This is also something that we can help you with.

If you had opted out, you’ve removed yourself from this class action. As a result, the outcome of the case will not affect you. You will be free to file your own claim separately and therefore entitled to more compensation.

Get My Refund will fight for every cent you're owed.

We specialise in reclaiming money for consumers by investigating your individual situation to get back what you are owed if you were mis-sold, even if your loan is still current or has been paid out within the last 10 years.

FAQs

What Is a Class Action?

A class action is a lawsuit brought by a group of claimants who suffered wrongdoings in the hands of the defendant. This type of lawsuit is also known as multi-district litigation or mass tort litigation.

Since the compensation for individual injuries may pale in comparison to the cost of a lawsuit, banding a group of claimants together tips the scale in the other direction, making it a suit worth filing.

Besides the claimant attorneys, filing a lawsuit as a group allows consolidation of witnesses, evidence, and other aspects of litigation for enhanced efficiency.

Why is a class action not always the right action?

If you opt in you waive your right to ever complain directly if you are not happy with the refund amount. Any settlement sums you are entitled to will be shared with all the other group members, some members will get more than others – plus deductions of lawyers fees and court costs.

Advantages of using Get My Refund over a class action?

We work on behalf of you as an individual on all insurances (not just the class action ones) and work towards obtaining the maximum refund you are entitled to! Class actions can take years to be approved and to go through court process, whilst our refund claims can be completed in a matter of weeks!

What is the potential difference in payouts between GMR and a class action?

This in recent times has worked out to be more than 60% more refund potential in your pocket even after our fees!

How long does the process take?

Once opted out your refund claim can be completed in less than 60 days, dependent on the complexity of your individual case.

Do I Get Anything For Reading the Entire FAQ?

You deserve some Gold Star stickers! There was some Tim Tams, but we ate them all. Sorry. You snooze, You…

You still here?

Why? Okay, since you’ve read the whole page (you did not skim did you?), you definitely deserve a reward…..Lets make it a refund! If your still concerned or not sure then pick up that phone to our friendly Team! We love helping you (02) 9156 1000

Get My Refund will fight for every cent you're owed.

We specialise in reclaiming money for consumers by investigating your individual situation to get back what you are owed if you were mis-sold, even if your loan is still current or has been paid out within the last 10 years.