AMP Bank

AMP Flexible Lifetime - Allocated Pension

Past 5-year return
3.47%
Admin fee

$110

Calc fees on 50k

$1.3k

SuperRatings awards
GoldInfinity Recognised
Past 5-year return
3.47%
Admin fee

$110

Calc fees on 50k

$1.3k

SuperRatings awards
GoldInfinity Recognised

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
  • Family linking available to further enhance admin fee rebates

Summary

Established in 2003, AMP Flexible Lifetime Allocated Pension has been closed to new members since July 2010 and was moved to the Super Directions Fund effective 15 May 2020.Members have access to an extensive investment menu, featuring a wide range of Multi-Sector and Single-Sector options, as well as Term Deposits. The AMP Balanced Growth option has underperformed the SuperRatings Index over each time period assessed to 30 June 2020. Fees for this product are higher than the industry average across all assessed account balances. However, rebates are available for 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. A product fee rebate may further apply, depending on members’ choice investment options. 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 are automatically eligible to EasyDraw which allows them to make an additional income payment by phone or via the online account without completing a withdrawal form. Members with more than one investment option can nominate the proportion of payments to be drawn from each option. Beneficiary options include both binding lapsing and non-lapsing nominations, as well as non-binding nominations.AMP's website provides members with access to a variety of financial simulators and retirement calculators, as well as a Goals info centre with a wealth of online tools and educational materials. Furthermore, 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
    • Family linking available to further enhance admin fee rebates

    Established in 2003, AMP Flexible Lifetime Allocated Pension has been closed to new members since July 2010 and was moved to the Super Directions Fund effective 15 May 2020.Members have access to an extensive investment menu, featuring a wide range of Multi-Sector and Single-Sector options, as well as Term Deposits. The AMP Balanced Growth option has underperformed the SuperRatings Index over each time period assessed to 30 June 2020. Fees for this product are higher than the industry average across all assessed account balances. However, rebates are available for 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. A product fee rebate may further apply, depending on members’ choice investment options. 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 are automatically eligible to EasyDraw which allows them to make an additional income payment by phone or via the online account without completing a withdrawal form. Members with more than one investment option can nominate the proportion of payments to be drawn from each option. Beneficiary options include both binding lapsing and non-lapsing nominations, as well as non-binding nominations.AMP's website provides members with access to a variety of financial simulators and retirement calculators, as well as a Goals info centre with a wealth of online tools and educational materials. Furthermore, 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
      OTHER
      Investment option performance
      BALANCED
      HIGH GROWTH
      CONSERVATIVE BALANCE
      SECURE
      DIVERSIFIED FIXED INTEREST
      GROWTH
      AUSTRALIAN SHARES
      INTERNATIONAL SHARES
      CAPITAL STABLE
      PROPERTY
      + View additional option performance information