Lifetime feature in action
Meet Eve

A handy note before you read the case studies

We get it, these things are dry and sometimes tough to understand. And for some readers, financial jargon and numbers can make it all overwhelming. To help you get the most from the case studies, we've defined some terms below.

Lifetime case studies: the proof is in the numbers

Eve, aged 30 

How does the Lifetime feature get Eve super close to a better retirement income? 

At 30, Eve starts to have Lifetime feature inside her AMP Super account. Eve knows that the sooner Lifetime is working in the background of her super account, the greater options she will have at the time of retirement. 

By the time Eve turns 65, her AMP Super balance has grown to $476,000. She decides to split her money equally between an AMP Lifetime Pension and an Allocated Pension, with $238,000 in each product. 

Thanks to having the Lifetime feature since she was 30, only $21,000 of the $238,000 in her Lifetime Pension account will be assessed as the discounted purchase price by Centrelink for the purposes of assessing her Age Pension eligibility. This means Eve may get more retirement income as this discounted purchase price could make her eligible for more Government Age Pension. 

This $21,000 ‘discounted purchase price’ for AMP Lifetime Pension is calculated based on her 2025 super account balance, when the Lifetime feature starts to apply. It also takes into account subsequent contributions, which have the Government’s deeming rate applied (currently 2.25%) instead of Eve’s actual investment returns (which are typically higher). This means the purchase price calculated by the feature ($273,000) at age 65 is lower than her balance ($476,000). The portion of her super balance used to start an Allocated Pension ($238,000) then reduces this purchase price further to $35,000, and the good news keeps coming for Eve because the Government applies a 40% Asset Test discount to the purchase price (of $35,000), so this results in only $21,000 being assessed under the assets test for AMP Lifetime Pension. 

The result: When Eve retires at 67, she gets to enjoy higher retirement income for no extra effort

Thanks to the Lifetime solution, Eve is expected to get an annual retirement income of $56,000 for 6 years longer, compared to if she put all her super in an Allocated Pension. Lifetime Pension also gives her $9,000 extra every year after her Allocated Pension runs out.

Eve’s retirement income with a Lifetime Pension and Lifetime feature switched on

Eve’s retirement income without a Lifetime Pension and the Lifetime feature

Case study assumptions 

*Assumes investment returns of 6.11% p.a., super contributions of 12% of salary, growing by 3% p.a. as expected wage inflation. Figures are rounded for simplicity and expressed in today’s dollars by deflating future values by assumed inflation of 3% p.a. 

*Based on assumed salary, contributions and investment returns. 

^{* AMP Lifetime Pension launches in 2026}

^{These benefits do not apply if you do not convert to an AMP Lifetime Pension within the time period specified at law}