AMP launches free intra-fund advice service

AMP has launched a free intra-fund advice offering to its Super Directions Fund members.

The retirement health check was a phone-based, simple, advice conversation of offers for members that covered super contributions, insurance, and investments.

AMP said the service would help members consider their retirement options, how much super was enough, how long money needed to last, and general age pension entitlements.

AMP general manager, workplace super engagement, Stephen Owen, said: “Our financial wellness research shows that Australians feel underprepared and concerned about retirement – 50% don’t know how much money they’ll have or need to achieve their desired living standard in retirement.

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“Retirement is a critical period in our lives and the retirement income system is complex so it’s crucial people get access to information, guidance and good advice. The new offer will help our members take more control of their retirement, in particular, the critical and sometimes complex transition from our working lives into retirement.

“This is especially important for women, with our research showing they are more likely to have higher levels of financial stress, are less likely to have retirement goals, and are more concerned about retirement.”