Protecting Your Super laws

30 Jul 2019

In 2019 the federal government introduced laws called the Protecting Your Super (PYS) package. These laws are designed to make sure super fund members are not paying for insurance cover they don’t know about, or premiums and other fees that inappropriately diminish their retirement savings.

Affected AMP customers

Customers affected by the PYS package will hear from us about either:

  • the cancellation of insurance cover inside their super account or
  • transferring inactive low balance super accounts to the Australian Taxation Office (ATO).

Cancelling insurance inside super accounts

Super providers must cancel insurance inside super accounts that have been inactive for 16 months. 

Learn more

Transferring low balance super accounts

Super providers must transfer super accounts with less than $6000 and no activity in 16 months to the ATO.

Learn more

We're here to help

For any questions about how the Protecting Your Super package affects you, call us on 1300 363 267. Or speak to a financial adviser.

Easy access to your super and insurance information via My AMP

In My AMP, you can view and manage your AMP super account, including your insurance, with ease. Register today using your AMP account number. You'll then be able to:

  • View your insurance details
  • see your super balance and how much is being contributed to your account
  • update your personal information, beneficiaries and provide your tax file number
  • compare, change and view your super investments
.
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Important information

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All statements about insurance cover are general comments only and the specific terms and conditions of the relevant cover will need to be considered in the event of any claim.

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