“You’ll be glad to know you won’t need to pay any past insurance premiums if you’re eligible to make a claim,” said another email template.

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Another email from February this year, signed by AMP’s director of wealth management Nicole Mahan, shows ongoing delays with transferring these members to MySuper accounts. In the email, Ms Mahan instructed advisers to request customers complete opt-out forms within 90 days.

“If we don’t hear back by this date, we’ll switch their investment to MySuper,” the email states.

An AMP spokesman confirmed the remediation program was ongoing. “We are reviewing every case individually with close to one-third now complete and remediation paid, and we expect to complete remediation of this matter by mid-2022,” he said. “AMP has made strong progress in the transformation of its superannuation business and has an ongoing focus to deliver to the highest standards for our customers.”

A financial planner who received the correspondence regarding the MySuper “error” said it revealed the ongoing problems with AMP’s governance and technology. “It confirms the right hand doesn’t know what the left hand is doing at AMP.”

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The adviser, who could not be named publicly because they were not authorised to speak publicly, accused AMP of purposefully providing customers with little detail about how the refunds were calculated and said there should be more scrutiny on compensation payments. “People are just happy to get a cheque. But anyone with knowledge might go, ‘hang on, I’ve received a $1000 cheque but how do I know that’s correct?’

“AMP is discovering more and more errors. The reality is it’s the advisers bearing the brunt of AMP’s errors.”

AMP said the program was part of a court-enforceable undertaking with the Australian Prudential Regulation Authority, signed last November, in which AMP agreed to take a variety of actions to improve its superannuation services.

At the time, AMP estimated the total bill for any remediation related to the undertaking would be between $40 million and $45 million.

AMP has faced rising remediation bills as the cleanup from successive scandals continues to eat into the company’s profits. Last financial year, the company paid $78 million in remediation costs, compared to $73 million the prior financial year.

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