AMP faces another class action
AMP Limited is facing into another legacy class action.
The company has announced to the Australian Securities Exchange (ASX) that a new class action proceeding has been filed against N.M. Superannuation Propriety Limited in the Federal Court in Victoria.
It said the proceeding has also been commenced against AMP Superannuation Pty Ltd and Resolution Life Australasia Limited.
The AMP announcement said the proceeding relates to allegations of higher premium payments by certain members of AMP’s superannuation funds for life insurance (death only cover, total and permanent disablement cover and income protection cover) during the period 2019 to 2024.
AMP said that N.M. Super and AMP Superannuation Limited will be defending the proceedings.
no they are taxable on selling asset in accumulation, thus CGT usually the main tax.
Totally agree Johnson. But surely it should be done in a way that takes direct action against the perpetrators (most…
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It's an exit fee by stealth.