AMP Bank

Retirement Directions Allocated Pension

No. of members: 229165
Fund size: $2.7b
Public offer:
Product type: Master Trust-Allocated Pension
Target market: -
Year started: 1999
Past 5-year return
New
Admin fee

$0

Calc fees on 50k

$990

SuperRatings awards
Past 5-year return
New
Admin fee

$0

Calc fees on 50k

$990

SuperRatings awards

Pros and Cons

Summary

Established in 1999 by Super Directions Fund, Retirement Directions Allocated Pension has been closed to new members since 2009. A minimum initial investment of $20,000 is required to commence a pension via Retirement Directions.The investment menu of Retirement Directions Allocated Pension offers a range of 12 Single- Sector and Diversified investment strategies, as well as a Single Manager option. Members can invest in up to a maximum of six investment portfolios. The Multi-Manager Balanced option has underperformed the SuperRatings Index over the 10 years to 30 June 2019.Fees associated with this product are higher than the industry average on all account balances assessed. While contribution fees and adviser commissions may be applicable, members seeking to switch investment options are also subject to a fee of 2% of the amount switched from the seventh switch each financial year.This product offers a reasonable level of pension flexibility, allowing members to elect their pension payment date and have payments automatically increase annually in-line with CPI or by a nominated percentage. Members can receive their pension payments as frequently as monthly and have the ability to nominate a fixed dollar or fixed percentage pension drawdown order. Pension payment details can also be altered at any time. 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. Members can also manage their pension account on desktops and mobile devices via MyPortfolio. Access to financial advice is also provided to members.

Features and Fees

AMP Bank Fees and Features

    Established in 1999 by Super Directions Fund, Retirement Directions Allocated Pension has been closed to new members since 2009. A minimum initial investment of $20,000 is required to commence a pension via Retirement Directions.The investment menu of Retirement Directions Allocated Pension offers a range of 12 Single- Sector and Diversified investment strategies, as well as a Single Manager option. Members can invest in up to a maximum of six investment portfolios. The Multi-Manager Balanced option has underperformed the SuperRatings Index over the 10 years to 30 June 2019.Fees associated with this product are higher than the industry average on all account balances assessed. While contribution fees and adviser commissions may be applicable, members seeking to switch investment options are also subject to a fee of 2% of the amount switched from the seventh switch each financial year.This product offers a reasonable level of pension flexibility, allowing members to elect their pension payment date and have payments automatically increase annually in-line with CPI or by a nominated percentage. Members can receive their pension payments as frequently as monthly and have the ability to nominate a fixed dollar or fixed percentage pension drawdown order. Pension payment details can also be altered at any time. 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. Members can also manage their pension account on desktops and mobile devices via MyPortfolio. Access to financial advice is also provided to members.

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