Voters are heading to the polls on Queensland election day. 18 June. The glide path determines the appropriate investment mix of the lifecycle option throughout an investors working life. How? Rapoport also alleged that the fund’s interest rates were below what members could get in the open market. ARTICLES. The directors of AMP Superannuation Limited are responsible for the governance of the following superannuation funds: Three years later the investment had lost money with a negative return of 0.39 per cent or $451.12 for the year after a $786.22 investment fee and a $1,202.83 administration fee were taken out. Further information about the AMP MySuper Funds can be found in the product disclosure statement (PDS) for the relevant superannuation product issued by ASL or NM Super. If you do nothing we'll assume that it's okay. AMP Life has proudly served customers in Australia since 1849. MySuper is a simple default investment option for your employees. Rather than investors changing funds as they age, it is the investment strategy of their lifecycle option that will adapt progressively based on their changing investment needs and risk profile. You may use these HTML tags and attributes: Sign Up for International Adviser Daily Newsletter, Published by Last Word Media (UK) Limited, Fleet House, 1st Floor, 59-61 Clerkenwell Road, London, EC1M 5LA. Two directors join AMP Superannuation boards. Law firm Maurice Blackburn was expected to lodge the claim in the Federal Court on 29 May, reports local newspaper Sydney Morning Herald. No. Please read the fund’s Product Disclosure Statement for more information. "Why is it that a member who puts their retirement savings with AMP's NM Super and has those retirement savings invested 100 per cent in cash ends up with substantially lower returns than if they had just invested their retirement savings in an interest-bearing account with AMP Bank?," Mr Hodge asked. AMP superannuation trustee Rachel Sansom said she had been pushing for a fee reduction for a year and was involved in conversations with APRA and the product team on the matter. Copyright (c) 2019. Slater and Gordon has today filed a class action against AMP “on behalf of more than two million Australians who have been gouged excessive fees on their AMP superannuation accounts”. The compensation for customers in AMP's Super Directions Cash Management Trust came after the banking regulator, APRA, asked the industry in March to look at the performance of cash investments. One major … Part of the change will involve NM Super investing directly in superannuation assets, a shift from previous AMP practice whereby the firm's super trustees invested in life-backed insurance policies issued by AMP Life. NM Superannuation Proprietary Limited ABN 31 008 428 322 is the trustee of the following RSEs: Wealth Personal Superannuation and Pension Fund (Wealth) Super Directions Fund (SDF) AMP … This service may include material from Agence France-Presse (AFP), APTN, Reuters, AAP, CNN and the BBC World Service which is copyright and cannot be reproduced. Insurance and Investment products are issued by AMP Life.
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