How does your super compare?
AMP launches new super comparison tool to put members in control.
2 min read
AMP has launched a new online super comparison tool, giving Australians an easy way to see how their super stacks up against other funds on investment performance, fees, insurance and key service features – all using externally sourced data.
Powered by the RateMySuper comparison tool developed by SuperRatings, AMP is aiming to lift transparency and encourage more Australians to actively engage with their super and better understand the benefits they receive from their fund.
The tool allows for a range of comparable super funds to be selected and provides instant side-by-side comparisons using SuperRatings sourced and regularly updated data. It is accessible to anyone through AMP’s website here.
Melinda Howes, AMP’s Group Executive, Super & Investments, said:
“We know only around half of Australians feel financially confident about their retirement – far too few given we have a $4.3 trillion super system.
“Turning those savings into real confidence starts with clear information, which is why we’ve launched this new comparison tool. It puts simple, side-by-side comparisons of investment performance, fees, insurance and service at people’s fingertips so they can make informed choices about their super.
“Importantly, it also challenges the myth that industry funds always have lower fees and better performance than retail funds like AMP.
“We want more Australians to see how their super compares with other funds, better understand the value it’s providing, and feel more confident about their financial future.”
Key features of the new RateMySuper tool:
Side-by-side comparisons of AMP and other super funds on investment performance, type of investment option, along with, Investment and administration fees.
Insurance visibility, including the type and level of cover and premiums, to help members understand the type of protection they receive through their super.
Service and experience indicators, highlighting digital tools, support and other features that contribute to overall member value, including fund governance and key product features.
AMP’s growing set of digital tools for members
This new RateMySuper tool follows the latest release of AMP’s digital financial advice solution, with three new retirement journeys and a retirement planner launched earlier last month Members can assess and then execute their contribution and investment strategies all from one place, as well as access a super projection to see what changes they should make to help reach their retirement goals.
In the past year AMP Super has also launched Lifetime Boost and AMP Rewards, both designed to help our members get more from their super and take greater control of their retirement.
External data
The comparison data within the tool is provided and updated by SuperRatings, one of Australia’s leading Superannuation research and ratings houses.
Media enquiries
| Adrian Howard Mobile: +61 413 184 488 Email: adrian_howard@amp.com.au |
| Daniel Paperny Mobile: +61 435 763 992 Email: daniel_paperny@amp.com.au |
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Important information
Any advice and information is provided by AWM Services Pty Ltd ABN 15 139 353 496, AFSL No. 366121 (AWM Services) and is general in nature. It hasn’t taken your financial or personal circumstances into account. Taxation issues are complex. You should seek professional advice before deciding to act on any information in this article.
It’s important to consider your particular circumstances and read the relevant Product Disclosure Statement, Target Market Determination or Terms and Conditions, available from AMP at amp.com.au, or by calling 131 267, before deciding what’s right for you. The super coaching session is a super health check and is provided by AWM Services and is general advice only. It does not consider your personal circumstances.
You can read our Financial Services Guide online for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you. You can also ask us for a hardcopy. All information on this website is subject to change without notice. AWM Services is part of the AMP group.