AMP Flexible Super is a super product with a MySuper offering that gives you death cover (including terminal illness) up to $250,000 by answering a few simple questions.
We understand that comparing super funds can be complex, so we've called out the key benefits and features of AMP Flexible Super for you below.
✓ Free super search & consolidate service
✓ Unlimited, free investment switches
✓ Insurance options to help look after you and your family
✓ Access to expert help
Designed for:
- Casual employees
- Part-time employees
- Full-time employees
- Self-employed
Investment choices
AMP Flexible Super gives you the flexibility and control to choose from different approaches to investing to cater for your individual investment style.
1) AMP MySuper investment option – a lifecycle solution
The AMP MySuper investment option takes the hard work out of deciding how to invest your super, by providing the simplicity of a single investment option tailored for your age group. During your younger years the investment strategy seeks higher returns through greater exposure to growth assets such as shares. As you approach retirement, the investment aim is to reduce risk and preserve capital, so the asset allocation mix shifts to more stable defensive assets. This option is suitable for members who do not want to actively choose an investment mix and who are seeking to grow their super.
2) Choose your own investment options
Best suited for those who want to select their own risk level and take greater control of their super. You can select up to 15 investment options from our full range of over 70 options including individual funds and diversified multi-manager options. Learn more in our investment options fact sheet.
You can also use our what investor style am I? simulator to help you work out what sort of investor you are. After you open your account it’s easy to switch your investment options at any time as your life or investment goals change, and you won't be charged any switching fees. Simply log in to My AMP.
Insurance included
Within AMP Flexible Super, you can choose the type and level of insurance you need. And if life changes, you can always apply for more cover.
Why insure through super?
- It can be a tax effective option to protect you and your family should the unthinkable happen.
- Pay premiums directly from your super account, so you don’t have to dip into your take-home pay.
AMP Flexible Super offers two personal insurance products:
1. Essential Protection
- Life insurance is quick and easy to apply for when you open your account online. Essential protection can give you death cover (including terminal illness) up to $250,000.
- Essential Protection also offers total and permanent disablement (TPD) cover up to $250,000 which you can apply for after opening your super account.
2. Super Protection
- Offers higher levels of death and permanent incapacity cover (over $250,000), as well as temporary incapacity cover.
- If you request death cover over $250,000 in our online application form we'll give you a call to set this up.
Setting you up for retirement
AMP Flexible Super is one product which can help you look after your retirement needs, from your first job, through your working life and into retirement.
Your AMP Flexible Super account is designed to help you save for retirement. If you're close to retirement and working less than you used to, you can use AMP Flexible Super to start your transition to retirement.
Once you're in retirement, you can use your super savings in a simple and tax-effective way to provide you with a regular income stream (allocated pension / account based pension). Learn more about AMP Flexible Super - Retirement account or speak to a financial adviser.
Investment performance
For more detail on the performance of other investment options and to stay up to date, refer to the performance and unit prices. Or you can refer to the MySuper dashboard to help you compare our option with other MySuper products.
Competitive fees2
Your Flexible Super account can be a simple, no-frills, low-cost super account, or it can be the super which offers you plenty of specialised investment choices plus comprehensive insurance with income protection. It’s flexible and completely up to you. Note that the new fees are now reflected as monthly (not weekly).
| Fee | AMP Lifecycle MySuper | Super Easy LifeStages | Choose your own mix |
| Investment fee (i) | 0.30% | 0.10% to 0.20% | 0.00% to 1.90% |
| Administration fee | 0.29% | 0.50% (ii) | 0.25% to 0.85% (ii) |
| Member fee | $7.57 per month(iii) | $7.57 to $10.08 per month | $7.57 to $12.65 per month |
| Switching fee | Nil | Nil | Nil |
| Transaction cost allowance (iv) | 0 to +/- 0–0.52% |
0 to +/- 0–0.34% |
0 to +/- 0–1.90% |
| Advice fee for personal advice | As agreed between you and your financial adviser | ||
| Insurance fees | Insurance premiums will apply if you have insurance cover | ||
| Indirect cost ratio (v) | 0.28% to 0.41% |
0.05% to 0.08% |
0.00% to 1.64% |
(i) For certain investment options, the investment fee may include estimates of amounts deducted from underlying investments including amounts charged on the gross assets of the underlying investment. These estimated amounts may vary and as a result the investment fee for these investment options may be more or less than the amounts shown which are based on the known actual or estimated costs incurred for the last financial year. Past costs are not a reliable indicator of future costs.
(ii) You may qualify for an administration fee rebate. Please refer to the Getting to know your AMP Flexible Super fact sheet for more detail.
(iii) If you invest your super account wholly in the AMP Lifecycle MySuper option, you will pay the MySuper fees only. If you choose to hold both AMP Lifecycle MySuper and other options, you will pay the MySuper Member fee, plus any excess of the other relevant Member fee.
(iv) The range shown here is based on the latest information available to us as at 15 May 2020. The transaction cost allowance can change at any time and may exceed the maximum amount shown.
(v) Costs are variable and may be more or less than the estimated amounts shown which are based on the known actual or estimated costs incurred for the last financial year. Past costs are not a reliable indicator of future costs.
Learn more about the fees in the Product Disclosure Statement and Getting to know your AMP Flexible Super fact sheet.
Sort your super in 3 easy steps
1
Apply for AMP Flexible Super
Applying online is quick and easy and
you can even include insurance.
2
Find any of your lost super
We can help you find and combine all
of your super to save you money.
3
Tell your employer to pay your super into your new account
You can ask us to tell your employer or
you can send them a pre-filled form.
Get started with a Flexible Super account
Documents & downloads
Contact us
For any help or questions
Monday to Friday
8.30am – 7pm (AEST)
Already have AMP Flexible Super?
Frequently asked questions
How do I find my lost super or combine my super accounts?
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How do I tell my employer to pay my super contributions into my super account?
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How can I make contributions to my super account?
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How do I register for My AMP?
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How can I change my investment options? It’s easy to change your investment options as life changes in My AMP. You can do this any time and you won’t be charged any switching fees. |
How can I apply for more insurance? Please contact us on 131 267 if you would like to apply for more insurance cover. |
Helpful links
Manage your super
Manage your accounts
PDS updates
1 AMP has the second largest market share by assets under management at aggregate level for retail super and corporate super and industry funds. Strategic Insight, Marketer View – Retail managed funds, December 2018.
2 AMP Flexible Super was awarded the SuperRatings Gold 2019 MyChoice Super rating for Core, Select & Choice Packages and 5 Heron Quality Stars for the 2019 calendar year.SuperRatings does not issue, sell, guarantee or underwrite this product. Go to https://www.superratings.com.au for details.
Important Information
Products in the Super Directions Fund and the Wealth Personal Superannuation and Pension Fund are issued by N.M. Superannuation Proprietary Limited (N.M. Super) ABN 31 008 428 322 (trustee), which is part of the AMP group (AMP).
Before deciding what’s right for you, it’s important to consider your particular circumstances and read the relevant Product Disclosure Statement or Terms and Conditions available from AMP at amp.com.au or by calling 131 267.
Any advice and information provided is general in nature, hasn’t taken your circumstances into account, and is provided by AWM Services Pty Ltd ABN 15 139 353 496 (AWM Services), which is part of the AMP group (AMP). Read our Financial Services Guide 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. All information on this website is subject to change without notice.
® AMP Flexible Super is a registered trademark of AMP Limited ABN 49 079 354 519.