Woodsford funds Rest Super class action

Woodsford is funding a class action brought by Shine Lawyers on behalf of members of the Rest Superannuation fund who may have had income protection insurance premiums wrongfully deducted from their superannuation accounts.  

The class action alleges that Rest signed up new members to income protection insurance by default, without the member actively choosing to sign up to the policy. It also complains about various deficiencies with the coverage, claiming the policy provided little to no coverage and that members paid a premium for no benefit.

Clare Owen, Director and Head of Origination, Woodsford Australia, commented:

“Everyday Australians trust their superannuation funds to look after their hard-earned dollars which they have invested for their retirement. Having sufficient superannuation to fund retirement is so important. Woodsford is pleased to be supporting this action to assist those everyday Australians in recouping losses to their superannuation which has been unfairly eroded.”