AMP Bank

AMP Flexible Super Retirement (Select Package)

Past 5-year return
4.57%
Admin fee

$121

Calc fees on 50k

$481

SuperRatings awards
Platinum10 Year Platinum PerformanceInfinity Recognised
Past 5-year return
4.57%
Admin fee

$121

Calc fees on 50k

$481

SuperRatings awards
Platinum10 Year Platinum PerformanceInfinity Recognised

Pros and Cons

Pros and Cons

  • Transition to retirement capability
  • Medium-tier investment range, where members can choose up to five investment options
  • One consolidated statement for super and pension accounts

Summary

Launched in May 2010, AMP Flexible Super Retirement is designed to be a simple and low-cost retirement solution and was moved to the Super Directions Fund effective 15 May 2020. The Select Package offers an investment menu of 5 Diversified investment options. Members can access a greater variety of investment options by upgrading to the Choice Package. The Super Easy Balanced option underperformed the relevant SuperRatings Index over each time period assessed to 30 June 2020.Fees for this product are lower than the industry average across all assessed account balances, with Select members receiving a reduced member fee compared to members invested in Choice options. An administration fee rebate may also apply, depending on members’ investment options and account balances. No switching fees are charged, although changing investment options may incur transactional 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. A Pension Refresh Facility further offers members a quick and easy way to rebalance their super and retirement accounts. 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

    • Transition to retirement capability
    • Medium-tier investment range, where members can choose up to five investment options
    • One consolidated statement for super and pension accounts

    Launched in May 2010, AMP Flexible Super Retirement is designed to be a simple and low-cost retirement solution and was moved to the Super Directions Fund effective 15 May 2020. The Select Package offers an investment menu of 5 Diversified investment options. Members can access a greater variety of investment options by upgrading to the Choice Package. The Super Easy Balanced option underperformed the relevant SuperRatings Index over each time period assessed to 30 June 2020.Fees for this product are lower than the industry average across all assessed account balances, with Select members receiving a reduced member fee compared to members invested in Choice options. An administration fee rebate may also apply, depending on members’ investment options and account balances. No switching fees are charged, although changing investment options may incur transactional 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. A Pension Refresh Facility further offers members a quick and easy way to rebalance their super and retirement accounts. 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
      GROWTH
      CAPITAL STABLE
      CASH
      + View additional option performance information