RateCity.com.au
powering smart financial decisions
AMP Bank

Summit Personal Pension

Select Diversified Active Balanced

Awards

Winner of SuperRatings Silver 2022 MyChoice Super, SuperRatings Silver 2021 Pension

Past 5-year return
8.55

% p.a

Admin fee

$0

Calc fees on 50k

$767

SuperRatings awards
SuperRatings Silver 2022 MyChoice SuperSuperRatings Silver 2021 Pension
Past 5-year return
8.55

% p.a

Admin fee

$0

Calc fees on 50k

$767

SuperRatings awards
SuperRatings Silver 2022 MyChoice SuperSuperRatings Silver 2021 Pension

Quick pension fund review

For Summit Personal Pension

These are the benefits of this pension fund.

  • Suited to investors with diverse and complex investment needs.
  • Sophisticated suite of investment options - including managed funds and direct assets across both super and non-super investments.

Established in 1992 as a platform service managed by AMP, Summit is designed for individuals with diverse and complex investment needs, offering members a simple and convenient way to build their super savings and transition to a pension. Members have access to an extensive investment menu of over 330 multi-sector and single-sector managed funds, managed portfolios, as well as Direct Shares listed on ASX, ETFs, LICs and Term Deposits. The Summit Select Diversified Active Balanced option outperformed the SuperRatings Index over the year to 30 June 2021, albeit underperformed over other time periods assessed. Fees associated with this product are higher than the industry average across all account balances assessed. A minimum administration fee is applied, while a tiered administration fee scale provides discounts for larger account balances. Further savings can be obtained from family fee aggregation. Members are able to switch investment options at no cost.An excellent level of pension flexibility is offered, with members able to choose from 5 pension payment frequencies ranging from fortnightly to annually, and to 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.Members can monitor and produce reports on all investments and access the latest product information and news through North Online. The fund further allows members to manage their banking, insurance, investments and super accounts all from one place from My AMP online or via the AMP app.

Read More

Pension fund overview

For Summit Personal Pension

TMD

    Target Market Determination

    Visit AMP Bank to view Target Market Determination.

    Embed

    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
    GROWTH
    CAPITAL STABLE
    + View additional option performance information