BT Super Class Action Settlement - Registration Now Closed

What Happened

Tracy Ghee brought a class action against BT Funds Management Ltd and Westpac Life Insurance Services Ltd, alleging they breached legal duties to members who invested in the Cash Option within BT Super products. The case claimed that members received lower returns than they should have due to how their funds were invested. In December 2023, the Federal Court approved a $29.95 million settlement to resolve these claims.

Who May Be Eligible

You may have been eligible if you were: - A member of BT Super for Life or BT Super superannuation products - Who invested in the Cash Option (also called "Super Cash" or "Cash") - During the relevant time period covered by the class action

How Much Could You Receive

The total settlement amount is $29.95 million, which covers compensation, interest, and legal costs. Individual payment amounts would have depended on factors such as your investment amount and the period you held the Cash Option. Specific per-person amounts were not disclosed publicly.

How to Claim

Registration for this settlement is now closed. The court-ordered deadline has passed:

1. Group members were required to register by 11:59pm AEDT on 21 December 2023
2. Registration needed to be completed through the official process managed through the official process
3. No registrations can be accepted after the court-imposed deadline

The distribution of settlement funds to eligible registered group members commenced in late 2023 and payments will continue to be processed throughout 2025.

Important Dates

• 21 December 2023: Registration deadline (CLOSED)
• Throughout 2025: Settlement payments continue to be distributed