Melinda Howes

AMP has announced the launch of a new digital advice solution, providing AMP Super members with simple, intuitive and secure retirement advice, with no extra fees.

The digital Retirement Health Check provides members with an online advice journey to find out when they can access super, how much is enough to retire and an estimate of their income in retirement.

In a market first, members can personalise their desired retirement income goal and then compare it with other key benchmarks including the age pension and ASFA’s Retirement Standards. Members also receive a Retirement Income Score and My Retirement Report, and through the solution can model different scenarios and strategies to improve their score.

If members wish, qualified advisers are on hand at no extra fees to discuss their results and help them take the next best step with their super and retirement planning. If advice requirements are more complex, a pathway to more comprehensive advice is also available.

Flexible access

Members can access the digital advice solution securely through My AMP online, from the comfort of their own home, at any time. The solution will also be available through the My AMP app in the coming weeks. Through My AMP members can also view their superannuation balance, switch investment options and manage insurance.

More to come

Developed in partnership with leading software provider, Bravura Solutions, the Retirement Health Check is the first of a range of digital advice journeys AMP Super is set to launch for members in the coming months. These solutions will cover pre-retirement and post-retirement strategies, including investment choice, super contributions, insurance and pension management.

Melinda Howes, AMP Group Executive Superannuation & Investments said: “We’ve drawn on AMP’s deep understanding of financial advice to create an intuitive, personalised digital experience for our super members.

“The Retirement Health Check – the first of our new advice journeys to come to market – recognises that Australians need help navigating a retirement system they often find daunting and overly complex.

“The solution aims to cut through this complexity and provide simple guidance and advice to help our members maximise the retirement income they generate from the super savings they’ve worked hard to build.

“We want to give our members greater control and financial confidence in retirement, and help them unlock a better quality of life.”

Paul Dunn, CEO APAC, Bravura Solutions said: “AMP’s Retirement Health Check is an outstanding example of how leading super funds are stepping up to better support their members achieve their retirement outcomes using digital advice solutions. Using Bravura’s Midwinter technology, this collaboration means AMP members have an easy-to-use digital advice solution to empower them on their superannuation journey.”

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