Super site for baby boomers
AMP has developed a new web-based tool, ‘my retirement simulator’, aimed at educating pre-retirees about their superannuation.
The free-to-access website takes users through a series of questions including age, salary, super savings, and about the aggressiveness of their fund to determine how long their money will last in retirement.
The site then encourages users to access information about how to make their money last longer, and provides AMP contact details.
Users can request a report of their results, which AMP anticipates will lead to discussions with a financial planner.
Commenting on the launch, AMP director of savings and retirement Peter Nicholas said pre-retirees need to ensure they have sufficient superannuation to fund retirement plans.
“Many baby boomers have seen their parents living off inadequate retirement savings and with 10 to 15 years to go until they reach retirement they’re keen to know how they can boost their retirement funds so they can live the life they want once they hang up their work boots,” he said.
The site allows people to see the impact salary sacrificing, personal contributions and later retirement could have on superannuation and was developed after research revealed plenty of 50 to 60-year-olds focus on getting on track with super.
The site can be accessed at www.amp.com.au/myretirementsimulator.
Recommended for you
Financial advisers are reminded to ensure their CPD is up to date with the Financial Services and Credit Panel making its second determination in a week after an adviser failed to meet the requirements.
An adviser has received a written reprimand from the Financial Services and Credit Panel after failing to meet his CPD requirements, the panel’s first action since June.
While efficiency remains a top priority for Australian advisers, State Street has revealed the profession is now juggling this desire with the need to maintain personalisation of its service offering.
A possible acquisition of data provider Iress is becoming a greater likelihood after the firm announced it is engaging with multiple interested parties.
