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Quick pension fund review
For North Pension
These are the benefts of this pension fund.
- Guaranteed income stream for life
- North 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
North is a full service wrap platform which was launched in 2007. It is designed for individuals looking for greater flexibility, choice or advisor involvement in managing their wealth. North Pension has been closed to new members since March 2016.Member can choose from discounted and standard investment options, including a wide range of multi-manager and single manager investment strategies, Direct Equities, ETFs, LICs and Term Deposits. The North Index Balanced option outperformed the SuperRatings Index over the 3 years to 30 June 2020; however, underperformed over other assessed time periods.Fees for this product are lower than the industry average across all assessed account balances (we note the ratings assume administration fee discounts are applied). Further savings can be obtained through individual or family fee aggregation. No switching fees are charged, although a buy/sell spread and transaction fees may apply.An excellent level of pension flexibility is provided. Members have the ability to select a pension payment date and can receive their pension payments in a variety of frequencies ranging from fortnightly to annually. 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 North Pension
Fund fees vs. Industry average
Fund past-5-year return vs. Industry average
Investment option performance
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