AMP Bank

AMP Flexible Lifetime - Allocated Pension

No. of members: 229165
Fund size: $2.7b
Public offer:
Product type: Master Trust-Allocated Pension
Target market: -
Year started: 2003
Past 5-year return
3.47%
Admin fee

$110

Calc fees on 50k

$1.3k

SuperRatings awards
Past 5-year return
3.47%
Admin fee

$110

Calc fees on 50k

$1.3k

SuperRatings awards

Pros and Cons

Pros and Cons

  • A wide range of over 60 investment options from leading Australian and International investment managers plus Term Deposits on the menu
  • Pension refresh facility & super consolidation account
  • Fee rebates available on large account balances
  • Auto-rebalancing facility to smooth fluctuations in investment allocation
  • Minimum initial investment of $20,000 required to commence a pension
  • Online access to My Portfolio with regular reporting functionality

Summary

Established in 2003, AMP Flexible Lifetime Allocated Pension has been closed to new members since July 2010. AMP is Infinity Recognised, which is a result of its strong commitment to environmental and social principles.Members have access to a wide range of Diversified, Single-Sector and Single Manager options, as well as Term Deposits. The AMP Balanced Growth option has underperformed the SuperRatings Index over the short and long term. Fees are higher than the industry average across all assessed account balances. However, rebates are available to members with account balances over $100,000, resulting in fee reductions of up to 0.85% p.a. for account balances greater than $1 million. Furthermore, no switching fees are charged, although changing investment options may incur transaction costs. This product provides members with an excellent level of flexibility. Members can choose from multiple payment frequencies ranging from fortnightly to annually and elect any dates for pension payments. Members with more than one investment option can nominate the proportion of payments to be drawn from each option. A Pension Refresh Facility offers members a quick and easy way to rebalance between their super and retirement accounts.AMP's website contains a variety of financial simulators and retirement calculators, as well as a Goals info centre with a wealth of online tools and educational material. Further, the fund's interactive digital advice tool 'AMP Goals 360' is designed to assist members to plan and track their retirement goals.

Features and Fees

AMP Bank Fees and Features

    Pros and Cons

    • A wide range of over 60 investment options from leading Australian and International investment managers plus Term Deposits on the menu
    • Pension refresh facility & super consolidation account
    • Fee rebates available on large account balances
    • Auto-rebalancing facility to smooth fluctuations in investment allocation
    • Minimum initial investment of $20,000 required to commence a pension
    • Online access to My Portfolio with regular reporting functionality

    Established in 2003, AMP Flexible Lifetime Allocated Pension has been closed to new members since July 2010. AMP is Infinity Recognised, which is a result of its strong commitment to environmental and social principles.Members have access to a wide range of Diversified, Single-Sector and Single Manager options, as well as Term Deposits. The AMP Balanced Growth option has underperformed the SuperRatings Index over the short and long term. Fees are higher than the industry average across all assessed account balances. However, rebates are available to members with account balances over $100,000, resulting in fee reductions of up to 0.85% p.a. for account balances greater than $1 million. Furthermore, no switching fees are charged, although changing investment options may incur transaction costs. This product provides members with an excellent level of flexibility. Members can choose from multiple payment frequencies ranging from fortnightly to annually and elect any dates for pension payments. Members with more than one investment option can nominate the proportion of payments to be drawn from each option. A Pension Refresh Facility offers members a quick and easy way to rebalance between their super and retirement accounts.AMP's website contains a variety of financial simulators and retirement calculators, as well as a Goals info centre with a wealth of online tools and educational material. Further, the fund's interactive digital advice tool 'AMP Goals 360' is designed to assist members to plan and track their retirement goals.

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    AMP Bank Fees and Features

      Fund fees vs. Industry average
      THIS FUND
      INDUSTRY AVERAGE
      Fund past-5-year return vs. Industry average
      THIS FUND
      INDUSTRY AVERAGE
      Investment allocation
      INTERNATIONAL SHARES
      AUSTRALIAN SHARES
      PROPERTY
      ALTERNATIVES
      FIXED INTEREST
      CASH
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      Investment option performance
      BALANCED
      HIGH GROWTH
      CONSERVATIVE BALANCE
      SECURE
      DIVERSIFIED FIXED INTEREST
      GROWTH
      AUSTRALIAN SHARES
      INTERNATIONAL SHARES
      CAPITAL STABLE
      PROPERTY
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      Product
      Past 5-year return
      Admin fee
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      Calc fees on 50k
      Features
      SuperRatings awards
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