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Generations Personal Super

Past 5-year return
5.89%
Admin fee
$0
Calculated Fees on 50k
$995
Compare
Access to a broad range of investment options - multi-manager diversified and sector and single manager and wholesale managed funds.
Online access to portfolio profiles and ability to complete transaction at any time.
Improved individual insurance offer through AMP's Elevate product.
Consolidated reports for all investments.
Fee aggregation between super and non-super investments.
Established in 2004, Generations Personal Super is a product designed to help members save and grow their super. 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 the 10 year period to 30 June 2018. Fees associated with this product are higher than the industry average across all account balances assessed. A small account fee of $91 pa is charged on account balances less than $20,000. No exit fees or switching fees are applicable, although changing investment options may incur transaction costs. A full suite of insurance cover with flexible options is offered through AMP Elevate Insurance. There is no limit to the amount of Death cover a member can apply for, while Death & TPD cover is available up to a maximum of $5 million. Both short-term and long-term Income Protection insurance is offered with a variety of waiting periods ranging from 14 to 730 days. As insurance is individually priced, our ratings are indicative only. 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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Fees & fund features

Admin fee
Admin fee
$0
Administration fee (%)
Administration fee (%)
0.00%
Indirect Cost Ratio (%)
Indirect Cost Ratio (%)
0.07%
Exit fee
Exit fee
$0
Financial planning service
Financial planning service
Credit cards
Credit cards
Insurance life event increases
Insurance life event increases
Investment fee
Investment fee
1.92%
Account size discount
Account size discount
Health insurance
Health insurance
Binding nominations
Binding nominations
Anti-detriment payments
Anti-detriment payments
Switching fee
Switching fee
$0
Employer size discount
Employer size discount
Home loans
Home loans
Non-lapsing binding nominations
Non-lapsing binding nominations
Long term income protection
Long term income protection
Admin fee
Admin fee
$0
Administration fee (%)
Administration fee (%)
0.00%
Indirect Cost Ratio (%)
Indirect Cost Ratio (%)
0.07%
Exit fee
Exit fee
$0
Financial planning service
Financial planning service
Credit cards
Credit cards
Insurance life event increases
Insurance life event increases
Investment fee
Investment fee
1.92%
Account size discount
Account size discount
Health insurance
Health insurance
Binding nominations
Binding nominations
Anti-detriment payments
Anti-detriment payments
Switching fee
Switching fee
$0
Employer size discount
Employer size discount
Home loans
Home loans
Non-lapsing binding nominations
Non-lapsing binding nominations
Long term income protection
Long term income protection
Fund fees vs. Industry average
Fund past-5-year return vs. Industry average
Investment allocation
Investment option performance
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FAQs

You can withdraw your superannuation when you meet the ‘conditions of release’. The conditions of release say you can claim your super when you reach:

  • Age 65
  • Your ‘preservation age’ and retire
  • Your preservation age and begin a ‘transition to retirement’ while still working

The preservation age – which is different to the pension age – is based on date of birth. Here are the six different categories:

Date of birth Preservation age
Before 1 July 1960 55
1 July 1960 – 30 June 1961 56
1 July 1961 – 30 June 1962 57
1 July 1962 – 30 June 1963 58
1 July 1963 – 30 June 1964 59
From 1 July 1964 60

A transition to retirement allows you to continue working while accessing up to 10 per cent of the money in your superannuation account at the start of each financial year.

There are also seven special circumstances under which you can claim your superannuation:

  • Compassionate grounds
  • Severe financial hardship
  • Temporary incapacity
  • Permanent incapacity
  • Superannuation inheritance
  • Superannuation balance under $200
  • Temporary resident departing Australia

 

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