Is AMP Flexible Retirement Income right for you?
AMP Flexible Retirement Income is a type of allocated pension that lets you turn your super into an income stream in retirement.
It works by using your super balance to pay you regular income, while keeping your money invested and giving you flexibility over how much you withdraw and how it’s invested. If you need extra money, you can also take out one-off withdrawals whenever you want.
It’s generally designed for people who:
- Are over 60 and retired or approaching retirement
- Want regular income from their super
- Value access to capital
- Want flexibility and control over their investment strategy
Might not suit you if:
- You are looking for the security of lifelong income
- You are worried about your funds running out
- You don’t want your balance to fluctuate with the market
(Detailed eligibility and suitability information is set out in the Product Disclosure Statement and Target Market Determination.)
How AMP Flexible Retirement Income works
Turn your super into an income stream, while keeping control over how your money is invested and accessed.
How it works
- Move some or all of your super into AMP Flexible Retirement income.
- Your super stays invested in your chosen investment options
- You choose how much income to draw (within government rules)
- Freedom to increase your payments and access lump sums as needed within government limits.
How it works
- Move some or all of your super into AMP Flexible Retirement income.
- Your super stays invested in your chosen investment options
- You choose how much income to draw (within government rules)
- Freedom to increase your payments and access lump sums as needed within government limits.
Withdrawal limits you should know
The government sets rules around minimum amounts you can withdraw from your super. In limited scenarios, there can also be tax implications for certain types of withdrawals depending on your age, how old your benefit is, and the type of fund it has been in.
| Age | Minimum annual payment as percentage of balance |
| 55 to 64 years old | 4% |
| 65 to 74 years old | 5% |
| 75 to 79 years old | 6% |
| 80 to 84 years old | 7% |
| 85 to 94 years old | 11% |
| 95 years old and over | 14% |
| Age | Minimum annual payment as percentage of balance |
| 55 to 64 years old | 4% |
| 65 to 74 years old | 5% |
| 75 to 79 years old | 6% |
| 80 to 84 years old | 7% |
| 85 to 94 years old | 11% |
| 95 years old and over | 14% |
Important information
Eligibility and fees
To open AMP Flexible Retirement Income, you’ll need to be over 60 or qualify under one of the exemptions, and be able to access your super.
Eligibility
- You may be eligible for a fee holiday when transferring from an AMP super product.
- You’re in control of your investment and payment choices
- Minimum annual payment amounts apply, as set by the government
Fees
- Fees and costs apply and are outlined in the PDS
- Eligibility for any fee offers depends on your circumstances
For full details, including how fees are calculated, refer to the PDS.
Ready to apply?
Ready to apply?
Personalised advice and help with retirement
You don’t have to work this out on your own. If you’re an AMP Super member, you can access guidance and advice designed to help you feel clearer and more confident.
-
Speak to a retirement specialist
If you’d like to talk through your retirement options, AMP Super members can access retirement advice through a financial adviser.
-
Digital Financial Advice
Available online 24/7 in My AMP, Digital Financial Advice includes a retirement planner that provides a recommendation on allocating your super across Lifetime Retirement Income and Flexible Retirement Income.
-
Retirement Simulator
See how much you might have in retirement, how long it could last, and how Lifetime solutions provide income for life.
Frequently asked questions
You need to withdraw at least a minimum amount each year, which is set by the government and based on your age and account balance.
These minimum payment rates increase as you get older and are designed to help provide you with a regular income in retirement.
Minimum drawdown rates are as follows:
55 to 64 years old – 4%
65 to 74 years old – 5%
75 to 79 years old – 6%
80 to 84 years old – 7%
85 to 94 years old – 11%
95 years old and over – 14%
Yes. You can change how much income you receive and how often it’s paid, as long as you continue to meet the government minimum annual payment requirement.
Yes. You can withdraw lump sums from your AMP Flexible Retirement Income at any time, subject to meeting the minimum annual payment rules.
Your money remains invested in your chosen investment options while your pension is paying you income. You can select from the available options and your balance will change based on investment performance and withdrawals.
Your account balance can rise or fall depending on investment markets and the withdrawals you make. Investment returns are not guaranteed, and this may affect how long your money lasts.
Important Information
AMP Flexible Retirement Income refers to SignatureSuper® – Allocated Pension and is issued by N. M. Superannuation Proprietary Limited (N.M. Super) ABN 31 008 428 322, AFSL 234654 as the trustee of the AMP Super Fund (the Fund) ABN 78 421 957 449.
® SignatureSuper is a registered trademark of AMP Limited ABN 49 079 354 519.
Any advice is provided by AWM Services and is general in nature only. It doesn’t consider your personal goals, financial situation or needs. It’s important you consider the appropriateness of any advice and read the relevant product disclosure statement and target market determination available at amp.com.au, before deciding what’s right for you. AWM Services is part of the AMP group and can be contacted on 131 267 or askamp@amp.com.au.
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 it provides. You can also ask us for a hard copy.
The retirement health check is a general advice conversation only. It is provided by AWM Services Limited (AWM Services) ABN 15 139 353 496, AFS L 366121 (AWMS) to eligible members of the AMP Super Fund. AWM Services is a wholly-owned subsidiary of AMP.
Digital Financial Advice is provided by AWM Services to eligible members of the AMP Super Fund.
Simple Super (Intrafund) advice is provided by AWM Services to eligible members of the Fund. This service may not be offered where it is deemed it is not within the scope of the service or your best interest.