AMP Class Action: Payout Date and Settlement Status
There is no confirmed payout date — the Federal Court reserved judgment on approval after the 7 April 2026 hearing. The average member payment is under $100, and it goes into your super account, not your bank.
Settled. Court approval judgment reserved — no payout date yet.
| Case | AMP Super class action, Federal Court of Australia (VID572/2019) |
|---|---|
| Firm | Slater and Gordon |
| Settlement sum | $120 million |
| Members' share | Approximately $60 million |
| Average payment | Under $100 |
| Approval hearing | 7 April 2026 — judgment reserved |
| Registered-member deadline | 4.00pm AEST, 10 August 2026 |
| Payout date | Not yet set — pending approval judgment |
| Basis | Settled on a no-admissions basis; AMP denies liability |
Short answer: there is no confirmed payout date yet. The settlement was reached and a Court approval hearing was held on 7 April 2026, but judgment was reserved. Distribution begins only after approval is handed down and an administrator works through the scheme — realistically months, not weeks, after that.
The Court set a deadline of 4.00pm AEST on 10 August 2026 for persons who had registered — or were deemed by the Federal Court to have registered — by 4 July 2025 to take the steps required to be considered for a payment.
That date has now passed. If you registered and did not complete the required steps, contact the settlement administrator or Slater and Gordon without delay to ask whether anything can still be done. Courts occasionally accommodate late steps, but that is a matter for the administrator and the Court, and the longer the gap the harder it gets.
What the case was about
AMP-related superannuation entities were alleged to have charged members excessive fees, and to have failed to act in members' best interests by not securing competitive rates for the cash and other options members were placed in. It is one of a family of Australian cases arising from the fee-and-conflicted-remuneration issues the Financial Services Royal Commission brought into public view.
A separate, smaller AMP matter concerned legacy insurance commissions and adviser arrangements. If you are researching an adviser commission issue rather than super fees, that is a different proceeding.
How much will I actually get?
The honest figure: the average payment is under $100. The arithmetic:
- ✓Headline settlement: $120 million
- ✓Deductions for legal costs, funding commission and administration
- ✓Members' share: approximately $60 million
- ✓Divided among a group numbering in the hundreds of thousands
Your individual amount depends on your account balance and how long you held the affected product during the relevant period. A member with a substantial balance held across the full period receives meaningfully more than the average. A member with a small balance held for a year or two receives a very small amount — in some comparable schemes, single-digit dollars.
This is not a criticism of the outcome. The underlying wrong was a modest excess fee on a modest balance; recovering it produces a modest payment. But it is worth knowing before you spend time chasing it.
How the payment reaches you
If you still hold an NMS superannuation account: the administrator credits the payment directly into that account. It appears as a transaction on your super statement. No bank transfer, no cheque.
If you no longer hold an account: the funds are transferred to the Australian Taxation Office and held as unclaimed superannuation. You reclaim them through myGov → ATO → Super. Nobody will chase you — the money simply sits there until you look.
If you were an AMP super member years ago and have since rolled over or closed the account, put a reminder in your calendar to check your ATO unclaimed super balance a few months after approval is announced.
What happens next
- 1Approval judgment delivered by the Federal Court (reserved since 7 April 2026).
- 2Settlement administrator appointed and the distribution scheme takes effect.
- 3Calculation of individual entitlements across the group.
- 4Distribution — credited to current accounts, or transferred to the ATO for former members.
Realistic timeline from approval to money landing: several months. Large superannuation distributions require the administrator to reconstruct member-level balance and fee histories over many years across multiple product lines, which is slow work.
Frequently Asked Questions
What is the AMP class action payout date?
Not yet set. The Court reserved judgment on approval after the 7 April 2026 hearing. No distribution can begin until approval is granted.
I never registered. Do I get anything?
Probably not, but confirm with the administrator rather than assuming. Australian class actions are opt-out, so you were a group member automatically — but participation in the distribution is normally conditional on registration by the Court-set date, and unregistered members are generally still bound by the settlement.
Do I need to pay a lawyer?
No. Slater and Gordon acted on a no-win-no-fee basis. Costs come out of the settlement sum before distribution, which is why members receive roughly half the headline figure.
Is the payment taxed?
An amount credited to your super account is treated within the superannuation system and taxed accordingly, which is different from receiving the money personally. If the amount is significant, ask your accountant — the distribution notice sets out the treatment.
I've moved house or changed my email since registering.
Update your details with the settlement administrator now. Distribution correspondence goes to the address on the registration record, and stale contact details are the single most common reason members miss a payment.
Is AMP admitting it did anything wrong?
No. The settlement was reached on a no-admissions basis. AMP denies liability.
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