Colonial First State Class Action Settlements

Colonial First State Class Action

You web browser may not be properly supported. To use this site and all its features we recommend using the latest versions of Chrome, Safari or Firefox x Current class actionsColonial First State Interest Rates Class ActionIf you have been a member of a Commonwealth Bank or Colonial First State super fund, they may have mishandled your retirement savings. We believe you can and should get your money back.Please note This page is about the Colonial First State Interest Rates Class Action. If you have landed on this page after receiving a notice from the Federal Court of Australia, you may be looking for the Colonial First State Fees Class Action.When you give your hard-earned money to a superannuation fund, you have the right to assume they will do the best possible job of managing those savings for your retirement.In 2018, the royal commission into banking revealed unacceptable behaviour from big bank-owned super funds, including boosting their revenues by ripping customers off with uncompetitive interest rates on their cash investments.Our class action against Commonwealth Bank and Colonial First State alleges that Colonial breached the trust of its superannuation fund members by investing members’ retirement savings with its parent bank even though the bank didn't offer the best interest rates.Am I eligible to participate?The class action concerns three Colonial superannuation funds: FirstChoice, Commonwealth Essential Super and the Avanteos Superannuation Trust.