Super Consumers launches Take Your Super Back website for Shield and First Guardian investors 

Super Consumers Australia has launched a dedicated website (takeyoursuperback.com) to provide independent and trustworthy information and self-help tools for the approximately 11,000 people who invested about $1.1 billion in the Shield and First Guardian Master Funds. The website is funded by the Australian Securities and Investments Commission to assist people who lost their super following the collapse of the two funds.

“Thousands of people have had their retirement savings wiped out after being steered into high-risk products that were never right for them,” said Xavier O’Halloran, CEO of Super Consumers Australia. “Take Your Super Back is about giving people clear, independent information so they can understand what happened and take action before it’s too late.”

Fewer than 2,000 people invested in Shield and First Guardian have lodged complaints with the Australian Financial Complaints Authority (AFCA) to claim compensation for their losses. 

“The fact that only a small fraction of affected investors have complained tells us many people either don’t know they can take action or don’t know where to start,” Mr O’Halloran said. “This website is designed to remove those barriers by providing clear information in plain English.”

Ellen (not her real name), a 48-year-old midwife, invested in Shield and First Guardian Master Funds after being contacted by a marketing firm in 2023. She made a complaint to AFCA after losing nearly $250,000 of super. AFCA agreed that the advice Ellen was given was inappropriate, did not consider her needs and contained information that was misleading. AFCA ordered the advice firm to pay Ellen back her lost super plus interest.

With deadlines for some investors to make a complaint to AFCA as early as 31 March 2026, Super Consumers is urging people to check their super to find out if they are affected. “There are hard deadlines, and once they pass, people may miss out on compensation,” Mr O’Halloran said. “If you think your super may have been invested in Shield or First Guardian, checking now could make the difference between recovering part of your savings or getting nothing back.” 

Most people who make a successful complaint to AFCA will be entitled to up to $150,000 back, but they need to act quickly.

Consumers should visit takeyoursuperback.com for information about:

• How to find out if they are affected
• How to make a complaint to AFCA
• Important deadlines
• Where to get help with legal questions, financial hardship or find someone to talk to.