AMP delivers new three-pronged ‘retirement package’
AMP has launched a new ‘retirement package’ for superannuation members that brings together three strategies designed to support retirees feel more financially secure and confident when it comes to spending their savings.
The package combines AMP’s flagship Lifetime Retirement Income solution with the opportunity to access a temporary boost to home care support and digital financial advice resources to arm members with all the necessary strategies to make informed financial decisions in retirement without having to worry about how long funds will last.
The launch comes as new research commissioned by AMP found the number of pre-retirees aged 58 to 65 feeling stressed or overwhelmed when thinking about their finances had risen significantly to 52 per cent. Further to this, approximately 70 per cent of Australians over the age of 65 are concerned with the cost of aged care, which comes as wait times to access government-funded care packages stretch to 12 months on average.
As part of the package, AMP Super members can access a 20 per cent increase to their lifetime income for two years when they become eligible for high-level in-home care.
Julie Slapp, Director, Growth & Customer Solutions at AMP, said the new initiative is designed to address member pain points that have surfaced more in recent years as cost of living pressures bite at retiree budgets and confidence.
“Australia has built one of the world’s strongest super systems. The unmet challenge is helping members confidently turn their super into income they actually use,” she said.
“We know that too many Australians remain uncertain about retirement – whether they have enough savings, how long it will last, and how to make the right decisions.
“This offering provides the confidence of income for life, the potential for higher income, and the guidance members need to make informed decisions.
“Super was never meant to be just a balance on a screen. It was designed to deliver income, security and choice in retirement. Our focus is helping members feel confident spending their super and enjoying the years ahead, knowing they have support in place.”
You're clearly an AIOFP member and most likely licensed by Interprac, The AIOFP record in this area is abhorent.
So now S & FG are the fault of the AIOFP ? Dixons was AIOFP fault too ?
So now S & FG are the fault of the AIOFP ?
I really hope this doesnt end badly and bring a stink to the industry. This mob do not have a…
You know its just going to be a conduit for the investments they can't get on other platforms