Supporting practices with better retirement advice

North has today launched a new Retirement Philosophy, designed to help advice practices deepen their thinking on retirement advice and develop a clear, consistent approach tailored to their own clients. 

Developed by the Retirement Confidence Hub, the Retirement Philosophy has six principles (SMILE+R) for managing client risks as they transition into retirement and reinforces the importance of addressing these challenges through a broader set of strategies, not investmentselection alone. It is a practical framework and discussion aid that supports advice practices to articulate how they think about retirement, the risks retirees face, and the trade‑offs clients must navigate as they approach and move through retirement.

AMP Retirement Confidence Hub Chair and Director of Retirement at AMP, Ben Hillier, said: 

“Retirement today is no longer a single decision or a short phase of life. Australians areretiring earlier, living longer, and facing more uncertainty than ever before.”

“Our Retirement Philosophy has been developed to help advice practices step back and articulate how they think about retirement advice - not just the products used, but the risks managed, the client needs prioritised and the outcomes they’re trying to deliver.”

“When clients understand how their retirement has been structured and why certain decisions have been made, it builds trust and confidence.”

“For advisers, having a documented retirement philosophy creates clarity across the advice team, supports consistent client experiences, and strengthens their value proposition in a highly competitive market.”

Delivering confidence and client-centred outcomes 

According to AMP research, most older Australians find it challenging to navigate our retirement system with 3 in 4 Australians aged 50+ saying they find the system too complex¹ and 2 in 5 holding back spending for fear of running out². In addition, over half (52%) of Australians aged 50+ are stressed or worried about having enough super for retirement. 

A clearly articulated retirement philosophy can help advisers better serve this cohort of Australians heading into retirement by materially improving client confidence and the consistency of advice delivery. 

Rather than prescribing a single approach, the Retirement Philosophy is intended to be adapted by practices to align with their own beliefs, values and client base, while helping advisers deliver more confident, client‑centred retirement outcomes. 

The Philosophy also introduces a needs‑based framework for retirement, known as the Five Ls - Liquidity, Living, Lifestyle, Later and Legacy - to help advisers and clients have clearer conversations about what money is for at different stages of retirement, and the trade‑offs between spending now and planning for later life. 

Evolving traditional approaches to retirement planning 

According to Treasury’s Retirement Income Review, many Australians are not using the superannuation system as it is intended and could be drawing down more from their superannuation balances but fail to do so - with the majority passing away with the bulk of their wealth still intact. 

The framework looks to solve this problem by encouraging advisers to move beyond planning to life expectancy alone, and instead consider planning to an ‘80 per cent confidence age’.  

This recognises that many Australians will live well beyond average life expectancy and need greater certainty that essential living costs can be met for life.

Delivered through AMP’s Retirement Confidence Hub, the Retirement Philosophy forms part of a broader suite of thought leadership and structured resources designed to support advice practices as they help clients transition from accumulation to retirement and beyond. 

AMP Group Executive, Platforms, Edwina Maloney said the framework responds to the growing complexity of retirement and the need for more structured advice conversations. It follows on from the launch of AMP’s Retirement Confidence Hub in September last year.  

“At North, our retirement philosophy is built around one simple idea: confidence. Confidence that your essentials are covered for life. Confidence that you can ride out markets and inflation. And confidence to actually enjoy your retirement without a fear of running out or looking back with regret.

 “That’s why our approach focuses on the real risks retirees face, not just financial ones, and designs strategies around how people actually live. 

“Our aim with the Retirement Philosophy, alongside the Retirement Confidence Hub, is to give advisers practical frameworks and insights they can genuinely use.”  

“This isn’t about telling practices what their philosophy should be, it’s about giving them the tools to develop one that reflects their clients, their business and their belief in what good retirement advice looks like.”

The Retirement Philosophy framework is available now to advice practices via the AMP Retirement Confidence Hub.  

About the Retirement Confidence Hub 

The AMP Retirement Confidence Hub empowers advice practices with thought leadership and structured resources to help improve the confidence of your clients as they approach and enter retirement. Led by a highly-credentialed advisory committee including internal and external retirement experts, the Retirement Confidence Hub provides resources to support advisers in creating clear, client-centred approaches that boost confidence and satisfaction for retirees.