A class action lawsuit accuses AMP of overcharging fees on over 2.5 million Australians' superannuation accounts.

A class action lawsuit against AMP, involving over 2.5 million Australians, will begin in the Federal Court today. The lawsuit alleges that AMP overcharged fees on superannuation accounts between 2008 and 2020, particularly on administration fees for products like Flexible Lifetime Super and MySuper accounts, and investment fees on cash and term deposits. AMP denies these allegations and is defending the case.