The AMP Bank Retirement Savings Account provides a way for both individuals and employer sponsors to maximum a super funds potential. With the financial security in knowing that your investment is never going to decrease, you are able to make sound decisions about your financial future.
What are the features of the AMP Bank Retirement Savings Account?
AMP is an investment specialist company, providing a range of products designed to help Australians build their wealth and secure their financial future. The Retirement Savings Account has not been available to new customers or employers since 2013, but those who have continued using their account still can take advantage of its features and benefits. Compare those against what you may find with other Australian banks and their accounts geared towards retirement when trying to decide which one is right for your circumstance:
- Availability. The Retirement Savings Account was designed to meet the needs of individuals looking for a simple and safe way to grow their super savings and for employers who wanted a solution for meeting their super obligations. However, this account is no longer available for new customers.
- Fees. There are no exit or entry fees associated with this savings account.
- Investment growth. Your rate of return will never be negative, meaning that your investment will never decrease unless it is affected by government charges outside of AMP’s control.
- Contributions. There are no limits or requirements for you contributions, you can add as much as you want whenever you want to.
- Interest rates. The interest rates are tiered, growing in value with higher balances.
As of 2013, this product is only available to existing customers. It is no longer available to new customers. For existing customers, variable interest rates still apply.
- No application or exit fees
- Easy application and operation of account
How do you apply for the AMP Bank Retirement Savings Account?
Unfortunately, this account is no longer available for new applicants. If you are looking for an account that can help with growing your SMSF, AMP has alternative savings account specialised for handling your retirement savings.
I have an existing AMP First account. What interest rate will I get on a retirement savings account for balances above $50000?. Your internet says 3.1% below $50,000.
Apologies it seems there was a technical glitch that prevented the rate for above $50,000 to show, it is 3.10% p.a., however, please note that AMP are no longer offering this account as a product and this information is for current account holders and as a general reference.
I have a new employee which I need to contribute to his super. how do I create an account for me to do this?
If you’d like to make a contribution to your employee’s AMP superfund, please see this page.