AMP becomes first major super fund to offer cashback rewards that boost your super balance
Alexis George
Australians by 10s of thousands of dollars. The launch of AMP Rewards means AMP Super members can now earn real cashback either in-store or online across 400+ (and growing) retail brands, simply by linking their existing Visa, Mastercard or eftpos card to the program.
Members can then choose to either pocket the cashback or send it directly into their AMP Super account that could grow their balance by as much as $100,000 when they hit retirement.
Alexis George, AMP Chief Executive said: “AMP Rewards is another market-leading innovation in superannuation and retirement that gives real and practical benefits to AMP members.
“Traditional rewards programs are fiddly and points-based. We’re turning spare change into super savings which can add up to significant retirement gains through a seamless experience and the magic of compounding.”
Cashbacks can ‘snowball’ into retirement
Through the magic of compounding, even small amounts invested regularly can build meaningful retirement savings over time[1]:
- $5 a week (~$260 p.a.) for 30 years → ~$25k.
- $20 a week (~$1,040 p.a.) for 30 years → ~$98k.
Despite these significant benefits, new research[2] from AMP shows that the concept of compounding is poorly understood by Australians under the age of 40, particularly women:
- More than half under 40 don’t understand the concept of compounding
- This increases to 2 in 3 for women under 40, compared to 2 in 5 for men.
Powered by Citro
The AMP Rewards program leverages Citro’s established rewards platform and their partnerships with more than 400 of Australia’s leading retail brands, together with an existing content platform of more 800 articles, tailored for Australians over 40.
Australia’s growing use of rewards programs
Australian consumers are increasingly embracing rewards programs, with the vast majority of Australians now members of at least one loyalty or rewards program. Transparency and simplicity are cited as the top factors Australians value most in rewards programs.
More benefits for AMP Super members
This new and free offer is another way AMP is delivering for AMP Super members, having recently:
- Achieved top quartile investment returns for the year to 30 June 2025
- Launched new digital advice solutions helping members better prepare for retirement, understand and select investment options, and consider additional contributions, and
- Launched the AMP Super Lifetime feature to unlock increased income in retirement.
How AMP Rewards works:
Step 1: Download / log in: AMP Super members download the AMP Rewards app (iOS / Android) or visit amprewards.com.au and sign up.
Step 2: Link cards: Securely link up to four existing Visa, Mastercard or eftpos cards – no need to change bank accounts.
Step 3: Shop & earn: Browse 400+ leading in-store and online brands via the AMP Rewards app or desktop experience. Eligible cashback tracks automatically to your AMP Rewards wallet.
Step 4: Cash or super: When cashback is confirmed (normally within 30 days), you can choose to have your cashback paid into your nominated bank account, or invest it into their AMP Super account[3].
Alexis George, AMP Chief Executive, continued: “We’re bringing together AMP’s strengths in super with Citro’s lifestyle and rewards platform to create something unique and genuinely beneficial – money back in our member’s pockets now and the ability to build their super.
“Our vision at AMP is to be the place Australians come to for their best possible retirement. Turning everyday spending into retirement savings is one more way we’re helping make that happen.”
Ash Frenken, Citro Managing Director, said: “We’ve designed AMP Rewards to be simple and transparent. Members earn real cashback dollars – not points – and we guarantee it to member wallets within 30 days of purchase confirmation, or we’ll pay members the advertised cashback and also give an additional $50.
“Australians shop across a wide mix of online and in-store brands and that everyday spend can now deliver real money for them to save, spend or invest into their super.
“For members over 40, AMP Rewards also unlocks Citro’s tailored money, lifestyle and retirement content – bringing together the financial and social support people tell us they want as they plan the next stage of life.”
