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Quick pension fund review
For MyNorth AP - Core
These are the benefits of this pension fund.
- MyNorth is flexible and open-ended which allows contributions and withdrawals, as well as transition to retirement pensions
- Easy-to-use online website to check investments, make contributions and update details
Launched in February 2016, MyNorth is an innovative all-in-one super and investment solution allowing members to easily move to a pension account upon retirement, with the option of capital guarantee to protect their super savings.The MyNorth Core menu offers a range of active and index funds. The MyNorth Index Balanced option underperformed the SuperRatings Index over the year to 30 June 2020; however, outperformed over the 3-year period. Fees for this product are lower than the industry average across all assessed account balances. No switching fees are charged, although a buy/sell spread and transaction fees may apply. Compared to members invested in the Select and Choice menus, Core members enjoy a nil administration fee. An excellent level of pension flexibility is provided. Members have the ability to receive their pension payments in a variety of frequencies ranging from fortnightly to annually and can also elect any payment dates. Payments can also be set to increase automatically by CPI or a nominated percentage annually. Beneficiary options are comprehensive, including both binding and non-binding nominations, as well as reversionary pensions and non-lapsing binding nominations.Members can monitor and produce reports on all investments through North Online. Additional benefits available through AMP's website include access to 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.
Pension fund overview
For MyNorth AP - Core
Target Market Determination
Visit AMP Bank to view Target Market Determination.
Fund fees vs. Industry average
Fund past-5-year return vs. Industry average
Investment option performance
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