AMP has further implemented its strategy of cutting back and restructuring its wealth offering as it announces a new set of fee reductions across its super products that will affect around 500,000 clients. Super Directions - Personal Super Plan (AMP Super) Fund Address.

The latest fee cuts include a shrinking down of the investment fee on AMP’s generic MySuper life cycle options from 0.32 per cent to 0.3 per cent on a range of products from Friday. Subscribe to the ifa bulletin. The cuts have followed separate fee deductions for AMP’s MySuper products and MyNorth wrap platform clients in 2018 and 2019.

Currently, the group’s super funds invest in life-backed insurance policies issued by the life insurance business, and they also outsource administration, product development and product development functions to AMP Life. Superannuation is a financial product, and as a financial product is requires the statement of disclosure regarding the product.

For more information on what these details describe, please scroll down for a more detailed description. “The fee cuts form part of AMP’s major program to simplify our superannuation and wrap platform businesses, which will see a significant reduction of super products and enable us to provide more benefits to clients,” Ms Bourguignon said.

AMP has promised a simpler governance structure, a stronger trustee operating model, and lower costs. Super Directions Fund is required to provide a product disclosure statement to ensure that each customers understands how their superannuation works. Lara Bourguignon, managing director for superannuation, retirement & platforms commented outcomes for clients are central to AMP’s strategy moving forward. The fund address for AMP Super is: PO Box 300, Parramatta , NSW 2124. Products in the Super Directions Fund and the Wealth Personal Superannuation and Pension Fund are issued by N.M. Superannuation Proprietary Limited (N.M. Super) ABN 31 008 428 322 (trustee), which is part of the AMP group (AMP). Further, the Stronger Super Fee will also be removed from 28 February, which will decrease the administration fee for AMP choice investment options on a number of products by 0.13 per cent.

Search for sites proposed to, currently on, and deleted from Superfund's National Priorities List (NPL) as well as sites being addressed under the Superfund Alternative Approach (SAA). The group anticipates the reshaping of its wealth business will be completed in the second quarter. An original plan presented to shareholders in August showed AMP intended to condense its six super funds to one, its two trustees will to one and there will be two product administration systems down from its previous nine.

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