Notice of Estimated Distribution
From 22 June 2026, a Notice of Estimated Distribution was sent to eligible registered Group Members notifying the amount they are entitled to receive from the settlement sum. Distribution amounts were calculated in accordance with the Court approved Settlement Distribution Scheme.
The Federal Court made orders approving the settlement of $50 million, on 20 March 2026.
Group Members were required to register on the Deloitte Group Member Portal to be eligible to share in the Proposed Settlement. The deadlines to register and opt out have now passed.
The deadlines were set by the Court, therefore, we are unable to accept any late registrations. Group Member should read the Notice of Proposed Settlement or the Combined Notice carefully as they contain important information about the proposed settlement, the registration process, and legal rights.
What is the ANZ and OnePath Super Class Action about?
There are two key claims in this Class Action.
The class action alleges that the trustee breached its duties in relation to the investment of funds that members deposited in cash investment options. The trustee deposited these funds with its parent bank, ANZ, rather than shopping around for better interest rates, resulting in inadequate returns for members (Cash Claim).
The class action also alleges that the trustee of these super funds breached its duties to members by charging excessive fees in order to pay unnecessary commissions to financial advisers, resulting in high fees for no additional benefit to members (Commissions Claim).
Cash Claim
You are a Group Member of the Cash Claim if you were a member of one of the following products at any time between 1 September 2011 and 31 January 2020, and had funds invested in the Cash Advantage, ANZ Term Deposits, or ANZ SmartChoice Cash investment options:
- ANZ OneAnswer Personal Super or Pension
- OnePath OneAnswer Personal Super or Pension
- OneAnswer Frontier Personal Super or Pension
- ANZ Smart Choice Super, Pension and MySuper
- ANZ Smart Choice Employer Super
OR
You received payment of all or part of the benefits of a deceased member who satisfied the above definitions, or you were the spouse of a member who satisfied the above definitions and received a transfer pursuant to a family law settlement or proceeding.
Commission Claim
You are a Group Member of the Commission Claim if you became a member of the Master Fund prior to 30 June 2013, and remained a member on or after 1 July 2013 to 13 April 2019, and were a member of one of the following products:
- ANZ OneAnswer Personal Super or Pension;
- OnePath OneAnswer Personal Super or Pension;
- ANZ Super Advantage;
- Integra Super or Pension;
- OptiMix Super or Pension.
AND
You were charged one or more contribution fees or ongoing fees (which were referable to contribution commissions or trail commissions).
OR
You received payment of all or part of the benefits of a deceased member who satisfied the above definitions, or you were the spouse of a member who satisfied the above definitions and received a transfer pursuant to a family law settlement or proceeding.
If you meet the above criteria, then you are a group member automatically. If you received a Notice of Proposed Settlement, you have been identified as a group member based on OnePath’s information.
Group members will be bound by the outcome of the class action unless they previously took steps to “opt out”. The deadline to opt out was 4:00pm 24 June 2024.
Frequently Asked Questions
Yes. If you wished to opt out, you were required to do so before 4:00pm AEST on 24 June 2024.
The deadline to register to share in the proposed settlement, was Monday 11:59PM AEDT, 3 February 2025. This deadline was set by the Court, therefore, we are unable to accept any registrations after the deadline.
A class action is a type of legal proceeding in which one person, the Applicant, brings a claim on behalf of a wider group of people who have been affected by the same conduct. By grouping claims together and pursuing them collectively, the overall value of the claim makes it economically worthwhile to do so, even if the value of individual claims are modest.
No. You will not be exposed to any out-of-pocket costs as a result of your participation or registration in the claim. The Applicants will seek that the legal costs relating to running the class action and administering the proposed settlement are deducted from the settlement sum. All deductions from the settlement sum are subject to the Court’s review and approval.