AMP Bank

Generations Personal Pension

No. of members: 223644
Fund size: $39.9b
Public offer:
Product type: Master Trust-Allocated Pension
Target market: -
Year started: 2004
Past 5-year return
3.05%
Admin fee

$0

Calc fees on 50k

$980

SuperRatings awards
Past 5-year return
3.05%
Admin fee

$0

Calc fees on 50k

$980

SuperRatings awards

Pros and Cons

Pros and Cons

  • Access to a broad range of investment options - multi-manager diversified and sector and single manager and wholesale managed funds.
  • Access to portfolio profiles via North Online with the ability to complete transaction and produce consolidated reports for all investments at any time.
  • No charge to switch investment options.
  • Fee aggregation between super and non-super investment portfolio.

Summary

Established in 2004, Generations Personal Pension turns super savings into a regular income stream in retirement. It is part of the Wealth Personal Superannuation and Pension Fund and is administered by North.Generations Personal Pension provides members with access to 34 Diversified and Single-Sector investment options. The Generations Balanced option underperformed the SuperRatings Index over each time period assessed to 30 June 2019. Fees associated with this product are higher than the industry average across medium and large account balances assessed; however, management fee rebates are applicable on each investment option. No switching fees are applicable, although changing investment options may incur transaction costs. An excellent level of pension flexibility is provided. Members can choose from a variety of pension payment frequencies ranging from fortnightly to annually and can also elect payment dates. Furthermore, payments can be set to increase by CPI or a nominated percentage annually. Death cover is also available to pension members. Beneficiary options include non-binding and binding nominations, non-lapsing binding death nominations, as well as reversionary pensions.Through North Online, members can access investment portfolio information, complete transactions and generate consolidated reports at any time. Members also have access to a variety of financial simulators and retirement calculators, as well as a wealth of educational materials, tools and online learning through AMP's website.

Features and Fees

AMP Bank Fees and Features

    Pros and Cons

    • Access to a broad range of investment options - multi-manager diversified and sector and single manager and wholesale managed funds.
    • Access to portfolio profiles via North Online with the ability to complete transaction and produce consolidated reports for all investments at any time.
    • No charge to switch investment options.
    • Fee aggregation between super and non-super investment portfolio.

    Established in 2004, Generations Personal Pension turns super savings into a regular income stream in retirement. It is part of the Wealth Personal Superannuation and Pension Fund and is administered by North.Generations Personal Pension provides members with access to 34 Diversified and Single-Sector investment options. The Generations Balanced option underperformed the SuperRatings Index over each time period assessed to 30 June 2019. Fees associated with this product are higher than the industry average across medium and large account balances assessed; however, management fee rebates are applicable on each investment option. No switching fees are applicable, although changing investment options may incur transaction costs. An excellent level of pension flexibility is provided. Members can choose from a variety of pension payment frequencies ranging from fortnightly to annually and can also elect payment dates. Furthermore, payments can be set to increase by CPI or a nominated percentage annually. Death cover is also available to pension members. Beneficiary options include non-binding and binding nominations, non-lapsing binding death nominations, as well as reversionary pensions.Through North Online, members can access investment portfolio information, complete transactions and generate consolidated reports at any time. Members also have access to a variety of financial simulators and retirement calculators, as well as a wealth of educational materials, tools and online learning through AMP's website.

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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
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      Past 5-year return
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      Calc fees on 50k
      Features
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