Kworld Trend / Is the Qsuper Class Action Class Action a Scam, one of the well-known Australian pension funds. Which has been in the headlines recently with a class action lawsuit filed against them. The lawsuit alleges Qsuper overcharged its customers for life insurance premiums, leading them to buy a for-profit subsidiary founded in 2016. The case handled by brilliant lawyers, who have asked members to come forward and claim their money back.
In this article, we will discuss the Qsuper class action scam and provide you with all the necessary details. So, let’s dive in!
Qsuper Scam – Myth or Reality?
There has been a lot of buzz in the market about Qsuper being a scam. However, we would like to point out that Qsuper is part of the Australian Pension Fund and has been operating since 1912. The company has achieved Platinum rating over the past 15 years and is a well-known player in the Australian Pension Fund market.
Qsuper Class Action
Shine Lawyers, one of Australia’s most reputable law firms, has filed a class action lawsuit against Qsuper. The lawsuit alleges that Qsuper overcharged its members for life insurance premiums, leading them to purchase a for-profit subsidiary founded in 2016. The lawsuit alleges that Qsuper breached its obligations to notify its members of changes in premiums.
Who can join the class action?
To join the class action, a member must have a specific Qsuper fund accrual account and must qualify for professional white collar rates or standard rates.
Members must have received money from an expired fund member after July 1, 2016. Members who wish to join the class action must have received a transfer from a fund member pursuant to family law.
What are the allegations against Qsuper?
The suit, filed by Shine Lawyers, alleges that Qsuper overcharged its members for life insurance premiums, and breached its obligations to notify its members of changes in premiums.
The suit alleges that Qsuper classified a member as a blue-collar worker, even though he was an expert in his field and should have been eligible for a lower premium.
what happened after that?
The case is still ongoing, and members encouraged to come forward and claim their money back. Shine Lawyers is handling the case, and they’ve asked members to contact them if they feel they’ve been charged extra for their life insurance premiums.
Has QSuper been proven to be a scam by the authorities?
QSuper, a not-for-profit industrial fund company with $120 billion in assets. Which has filed a class action lawsuit alleging it overcharged customers for compulsory life insurance. However, premiums they were forced to buy through its for-profit subsidiary founded in 2016.
However QSuper was the first fund, with the support of its union and its employees, to obtain permission to charge clients an additional fee to cover court fines and penalties. The lawsuit was sued in federal court on behalf of 140,000 QSuper members. QSuper, however, is not a scam.
About Polishing Attorneys Class Action Qsuper
Shine Lawyers benefited from a recent finding by the Financial Ombudsman of Australia that QSuper had overcharged Tommy Lam. A MD for life insurance coverage by classifying him as a blue collar worker rather than an expert worker who was entitled to a lower premium.
However, The Queensland linked fund that oversees retirement savings for state employees faces a final fine related to an ATO investigation into an alleged scheme to cancel a US$200m dividend.
The class action lawsuit brought by Shine Lawyers could be the first to challenge Section 56. Amendments to the government assessment. That prohibit members’ savings from being used to cover financial fines.
Joining Class: Qsuper Shine Lawyers Scam
You must be a member of one of the following groups to join the QSuper class action.
- You must have an accrual account with QSuper Fund by 17 May 2016 and be eligible for. White Collar rates, Professional rates* (fund member) or Standard rates.
- You must act in the place of a deceased member of the trust;
- You must have received money from a member of a fund that expired after July 1, 2016.
- The transfer must have been made by a member of the trust pursuant to a court ruling or agreement in the Family Act 1975 (Cth).
- QSuper encourages you to join the QSuper Class Action if you meet the above conditions.
QSuper Quick Guide:
- Company name- QSuper
- Queensland Public Sector Grand Funds
- Australian Pension Fund
- Company type Pension fund based company
- Location Brisbane, Queensland
- Founded in 1912
- Rating- 15 years platinum
Conclusion:
Shine Lawyers, a fund-based organization, recently involved in a class-action lawsuit against QSuper. However, The lawsuit was filed after a member of QSuper complained that they were being overcharged.
However, If you were a member of QSuper as of July 1, 2016, and met the definition of group member in the class action lawsuit Jessica Amy Challenor brought against the QSuper Board. Moreover, you may have recently received a letter and notice of opt-out in connection with the Class Act. The class-action lawsuit claims thousands of QSuper Fund members wrongly charged excessive premiums for their life insurance policies.
In conclusion, Qsuper’s class action scam is an ongoing issue, and members encouraged to come forward.
Shine Lawyers is handling the case, and they’ve asked members to contact them. However, If they have any questions regarding the lawsuit. We hope this article has provided you with all the necessary details about the Qsuper class action scam.
