AMP Bank

AMP Flexible Super Retirement (Select Package)

Past 5-year return
4.57%
Admin fee

$121

Calc fees on 50k

$476

SuperRatings awards
Past 5-year return
4.57%
Admin fee

$121

Calc fees on 50k

$476

SuperRatings awards

MICHAEL KIANG

5.0
7 Reviews

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Pros and Cons

Pros and Cons

  • Low cost and simple investment offering
  • One consolidated statement for super and pension accounts
  • Online straight through processing on investment switches 24/7
  • Family linking offered (includes linking to members of an employer plan to get the employer size discounts)
  • 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 Select package provides members with additional features such as greater investment choice compared to its Core product.Members have access to 10 Diversified investment strategies which include an AMP Retirement Choice option specific for pension members, and a Cash option. Over 70 investment options can also be accessed by upgrading to the Choice Package. 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. A higher member fee is applicable compared to Core members.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 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 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

    • Low cost and simple investment offering
    • One consolidated statement for super and pension accounts
    • Online straight through processing on investment switches 24/7
    • Family linking offered (includes linking to members of an employer plan to get the employer size discounts)
    • 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 Select package provides members with additional features such as greater investment choice compared to its Core product.Members have access to 10 Diversified investment strategies which include an AMP Retirement Choice option specific for pension members, and a Cash option. Over 70 investment options can also be accessed by upgrading to the Choice Package. 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. A higher member fee is applicable compared to Core members.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 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 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
      Product
      Past 5-year return
      Admin fee
      Company
      Calc fees on 50k
      Features
      SuperRatings awards
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