AMP Bank

AMP Flexible Super Retirement (Choice Package)

No. of members: 229165
Fund size: $2.7b
Public offer:
Product type: Master Trust-Allocated Pension
Target market: -
Year started: 2010
Past 5-year return
4.57%
Admin fee

$152

Calc fees on 50k

$507

SuperRatings awards
Highlighted
7.15%

$117

AustralianSuper

$472

Advisory services
Death insurance
Income protection
Online access
Term deposits
Variety of options
Go to site
Past 5-year return
4.57%
Admin fee

$152

Calc fees on 50k

$507

SuperRatings awards

Pros and Cons

Pros and Cons

  • A wide range of over 70 investment options plus Term Deposits
  • One consolidated statement for super and pension accounts
  • Online straight through processing on investment switches 24/7
  • Pension Refresh Facility
  • Online access to My Portfolio with regular reporting functionality

Summary

Launched in May 2010, AMP Flexible Super Retirement is designed to be a simple and low-cost retirement solution. AMP is Infinity Recognised, which is a result of its strong commitment to environmental and social principles.The Choice package provides members with access to greater investment choice and flexibility, featuring over 70 Diversified, Single-Sector and Single Manager investment options, as well as Term Deposits. The Super Easy Balanced option outperformed the SuperRatings Index over the year to 30 June 2019; however, underperformed over the longer term.Fees for this product are lower than the industry average across all assessed account balances. No switching fees are charged, although changing investment options may incur transactional costs. Also, members with account balances greater than $100,000 may be eligible for rebates on premium investment options. An excellent level of pension flexibility is provided. Members can choose from multiple payment frequencies ranging from fortnightly to annually and elect any date 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, which provides members with a wealth of educational materials, tools and online learning. 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 70 investment options plus Term Deposits
    • One consolidated statement for super and pension accounts
    • Online straight through processing on investment switches 24/7
    • Pension Refresh Facility
    • Online access to My Portfolio with regular reporting functionality

    Launched in May 2010, AMP Flexible Super Retirement is designed to be a simple and low-cost retirement solution. AMP is Infinity Recognised, which is a result of its strong commitment to environmental and social principles.The Choice package provides members with access to greater investment choice and flexibility, featuring over 70 Diversified, Single-Sector and Single Manager investment options, as well as Term Deposits. The Super Easy Balanced option outperformed the SuperRatings Index over the year to 30 June 2019; however, underperformed over the longer term.Fees for this product are lower than the industry average across all assessed account balances. No switching fees are charged, although changing investment options may incur transactional costs. Also, members with account balances greater than $100,000 may be eligible for rebates on premium investment options. An excellent level of pension flexibility is provided. Members can choose from multiple payment frequencies ranging from fortnightly to annually and elect any date 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, which provides members with a wealth of educational materials, tools and online learning. Furthermore, the fund's interactive digital advice tool 'AMP Goals 360' is designed to assist members to plan and track their retirement goals.

    Read More

    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
      GROWTH
      AUSTRALIAN SHARES
      INTERNATIONAL SHARES
      CAPITAL STABLE
      PROPERTY
      CASH
      + View additional option performance information
      Product
      Past 5-year return
      Admin fee
      Company
      Calc fees on 50k
      Features
      SuperRatings awards
      Go to site

      Related articles