QSuper members have filed a class action against the superannuation fund, alleging they were overcharged for life insurance policies.
The class action to the Federal Court of Australia claimed the fund breached its obligations under the Corporations Act 2001 and the Superannuation Industry (Supervision) Act 1993 by failing to notify its members of changes to premiums.
Shine Lawyers class action practice leader, Joshua Aylward, said the lack of notification resulted in financial loss for up to 140,000 members.
“QSuper changed their life insurance policy on 1 July, 2016, and failed to adequately notify its members of how to get cheaper premiums," Aylward said.
"Significantly, most of the fund members impacted are Queensland Government employees and their spouses, teachers and health industry workers like doctors and psychiatrists.”
Shine said white collar workers were charged the same increased premiums despite not having the same risk-factors present in their lines of work.
A spokesperson for QSuper told Super Review: “QSuper has no comment on a matter before the courts”.