Issued ₃₀ September ₂₀₁₇

AMP Flexible Super®

Getting to know your AMP Flexible Super fact sheet

® Registered trademark of AMP Limited ABN 49 079 354 519

Contents
How this super product works 3
Investing in super 12
Making a contribution 20
Fees and other costs 27
Taxes 40
Starting your retirement 46
Other information about AMP Flexible Super 52

The information in this document forms part of the Product Disclosure Statement (PDS) for AMP Flexible Super dated 30 September
2017. To understand how AMP Flexible Super works, read the PDS, fact sheets and your member benefit schedule (employee members
only).
AMP Flexible Super is part of the AMP Retirement Trust ABN 73 310 248 809. AMP Superannuation Limited ABN 31 008 414 104, AFSL
No. 233060, RSE Licence No. L0000550 is the trustee and is referred to as ASL, trustee, we or us in this document.
Information in this document may change from time to time. We may update information which isn't materially adverse to you and
make it available at amp.com.au/flexiblesuper. A paper copy of the update can also be obtained (at no charge) by calling us (details
at the end of this document) or from your financial adviser.
The information provided in this document is general information only and doesn't take into account your personal financial situation
or needs. You should obtain financial advice tailored to your personal circumstances.
No other company in the AMP group of companies or any of the investment managers of the investment options:
– is responsible for any statements or representations made in this document
– guarantees the performance of ASL’s obligations to members, or assumes any liability to members in connection with this product.
Except as expressly disclosed in the PDS or a fact sheet:
– investments in the investment options aren't deposits or liabilities of ASL, AMP Bank Limited ABN 15 081 596 009 (AMP Bank),
any other member of the AMP group or any of the investment managers
– no person guarantees the performance of this super product or any of the investment options, any particular rate of return or
the repayment of capital.
The trustee may enter into financial or other transactions with related bodies corporate in relation to this product. That related body
corporate may be entitled to earn fees, profits, reimbursements or expenses or other benefits in relation to any such appointment or
transaction and to retain them for its own account.
AMP Flexible Super is managed and administered in accordance with the PDS, fact sheets and your member benefit schedule (employee
members only). We may change the way AMP Flexible Super is managed and administered at any time and we will notify you of any
change as soon as practicable after the change occurs, except for an increase in the fees charged by us, where we will give you at least
30 days’ notice of any increase in these fees.
This offer is available only to persons receiving (including electronically) the PDS, fact sheets and your member benefit schedule
(employee members only) within Australia.
Issued by AMP Superannuation Limited, the trustee of the AMP Retirement Trust.
Section : ₁
How this super
product works
In this section you’ll learn more about super and how it works; including
information about:

When you can access your super

We explain the rules around accessing your super, what is preservation
age, retirement age and what are conditions of release.

Your beneficiaries

Keeping you informed

What information we’ll send you.

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 How to set up your AMP Flexible Super account
1. How close are you to retirement?
AMP Flexible Super is one product which can look after your retirement needs, from your first job, through to retirement.
The account option you choose will depend on the stage you are at:

1. Saving for retirement – Your super account is designed to help you save for retirement.
2. Making the transition to retirement (super account and retirement account) – if you’re close to retirement and
working less than you used to, you can use AMP Flexible Super to start your transition.
3. In retirement – you can start your own pension to withdraw from your super without needing to set up a new
account.

If you are an employee member you can ask your employer to set up an AMP Flexible Super account for you.

2. Consider your investment style

You have a choice of three different investment levels designed to cater for different investment styles.
And we have tools to help you work out what sort of investor you are before you pick your investments.

There is more information about investing in section two of this fact sheet.

3. Decide on life insurance cover (super accounts only)

You can financially protect yourself and the people closest to you by adding life insurance cover. Pay directly from your
super account, making it a convenient and possibly a more tax-effective option for you.
If you opened your AMP Flexible Super through your employer, your insurance cover has been selected for you. Please
refer to the insurance for employees fact sheet for information. When you join, your member benefit schedule will
have details of your insurance.
For other customers, there are two options available:

Whether you apply through your financial adviser

or on your own, there is more information about
insurance in section three of this fact sheet.

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4. Start making contributions
There are different types of contributions and ways to boost your super. These are explained in section four of this fact
sheet.

5. Understanding your taxes and fees

Super and retirement accounts receive different tax treatment which can make them better ways to save for, and spend
in, retirement. There is an outline of our fees and how our rebates can help you save. All the details are in section five
of this fact sheet.

6. Retirement
Find out how to start your retirement account and how much and how often you can receive income. For more
information refer to section six of this fact sheet.

When you can access your super

Generally, you can take your super once you have:
– permanently retired after reaching your preservation age
– stopped employment at age 60 or over
– reached age 65, or
– reached your preservation age, but you keep working, and start a transition to retirement income stream.

Your preservation age

Your preservation age is the minimum age you can draw on your super and varies depending on when you were born.

Date of birth Preservation age

Before 1 July 1960 55

1 July 1960 to 30 June 1961 56
1 July 1961 to 30 June 1962 57
1 July 1962 to 30 June 1963 58
1 July 1963 to 30 June 1964 59
1 July 1964 and after 60

Retirement
You're retired if you've reached your preservation age and stopped employment. If you stopped working before or at
age 60, we need to be reasonably satisfied that you don't intend to return to work for 10 or more hours a week.

Super benefit components

Super benefits consist of three parts:
– Unrestricted non-preserved: you can access this amount at any time.
– Restricted non-preserved: generally, you can access this amount when you stop working for the employer who has
contributed to your account.
– Preserved: you can access this amount only in certain circumstances set by super law.
All contributions and investment earnings since 1 July 1999 are preserved. Any non-preserved amounts you have
accumulated before this date remain as non-preserved.
You will see these components in your annual statement.

Making the transition to retirement

When you reach your preservation age and you're still working, you can invest in both super and retirement accounts
under the transition to retirement (TTR) rules.
You must make at least one payment a year from your retirement account and you can withdraw up to 10% of the
account balance each year.

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 A retirement account under the transition to retirement rules doesn't generally allow lump-sum withdrawals until you
can access your super on other grounds.
You can find more information about transition to retirement rules at amp.com.au/flexiblesuper or speak to your
financial adviser.
There are special rules for holding a term deposit in a transition to retirement arrangement. Please refer to the investing
and your options fact sheet for information.

Other conditions of release

The other circumstances which allow you to withdraw money from your super include where:
– you have a terminal medical condition
– you become permanently incapacitated
– you qualify on compassionate grounds or severe financial hardship
– if you were a temporary resident1 of Australia, when you permanently leave Australia and you request in writing
for the release of your benefits. (This option is not available to holders of subclasses 405 and 410 visas, Australian
or New Zealand citizens, or Australian permanent residents).
– you stop working for the employer who has contributed to your account and purchase a certain type of income
stream or annuity, or
– in certain circumstances, where your benefit is less than $200 and your employment with an employer-sponsor
has been terminated
– in certain circumstances, you were a lost member and are subsequently found, and your account value is $200 or
less.

Permanent incapacity, terminal medical condition, compassionate grounds and

severe financial hardship
You can access some or all of your super benefits at any age in certain circumstances – for example, if you have a
terminal medical condition, retirement due to permanent incapacity, severe financial hardship or compassionate
grounds.
There are specific conditions for the release of benefits and, in the case of compassionate grounds, release is also subject
to approval by the Department of Human Services and the Trustee.
You are permanently incapacitated if the Trustee is reasonably satisfied that your ill health (whether physical or mental)
makes it unlikely that you will engage in gainful employment for which you are reasonably qualified by education,
training or experience.
You suffer a terminal medical condition if the following circumstances exist:
– Two registered medical practitioners have certified, jointly or separately, that you suffer from an illness, or have
incurred an injury, that is likely to result in your death within a period (the certification period) that ends not more
than 24 months after the date of the certification.
– At least one of the registered medical practitioners is a specialist practising in an area related to the illness or injury
suffered.
– For each of the certificates, the certification period has not ended.

1 Temporary residents of Australia: If you are a non-resident and you permanently leave Australia and have not withdrawn your
super benefit within six months of your temporary visa expiring, we may be required to pay your benefit to the ATO, after which
you will need to apply to the ATO to claim your super.
Relying on relief provided by the Australian Securities and Investment Commission (ASIC), the trustee is not obliged to notify or
give an exit statement to a member who was a temporary resident where we transfer their super to the ATO following their
departure from Australia.
Note: There are limited conditions of release available to you if you are or were a temporary resident. If you are or were a temporary
resident, you will generally not be able to access your benefit under the following conditions of release:
– on retirement
– on reaching age 65.

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When you must take your super benefit
Super rules don't require you to take your benefits at any maximum age. This allows you to keep your investment in
your super account indefinitely. However, your benefit must be paid out on your death.
Current unclaimed monies legislation for members over age 65 requires us to transfer your benefit to the Australian
Tax Office (ATO) if all of the following conditions are met:
– you haven't contributed to your super in the last two years, and
– it's been five years or more since you've transacted on your account or we last had contact with you, and
– we're unable to contact you after reasonable efforts have been made.

Transfer to another super fund

You can ask us to transfer your super benefit to another super fund at any time.
If you transfer your whole balance, any insurance cover will generally cease on the date of transfer.

Your account balance on death

If you die, your account balance will be transferred to the Super Easy Cash investment option, as at the date we're
notified of your death.

Your beneficiaries
If you're aged 18 years or over, you can nominate one or more beneficiaries to receive your death benefit. Generally, all
beneficiaries must be your dependant(s). You can also nominate your estate (we call this your legal personal
representative). If you're aged under 18, you or your parent or guardian cannot make a death benefit nomination.

Who is a dependant?
A dependant under superannuation law includes:
– your spouse (including a de facto spouse whether of the opposite or same sex)
– your children (including an adopted child, a stepchild, or ex-nuptial child)
– any person who is financially dependent on you, and
– any person with whom you have an interdependency relationship.
A person must be a dependant on the date of your death to be a beneficiary.

Note: For tax purposes:

– only a child under 18 years of age is a dependant with the exception of financial dependants under 25 years of
age or those with a disability, and
– a former spouse is also a dependant.

What is a interdependency relationship?

Two persons (whether or not related by family) have an interdependency relationship if:
– they have a close personal relationship, and
– they live together, and
– one or each of them provides the other with financial support, and
– one or each of them provides the other with domestic support and personal care.
An interdependency relationship also includes two persons (whether or not related by family):
– who have a close personal relationship, and
– who don't meet the other three criteria listed in the paragraph above because either or both suffer from a physical,
intellectual or psychiatric disability.

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 Paying your death benefit
You can choose how you want your benefit paid. You have a choice of:
– Binding nomination
– Non-lapsing nomination
– Non-binding (preferred) nomination
– Reversionary nomination (retirement accounts only)
– No nomination.
These options are detailed below.
Before you consider making a nomination, there are a number of factors that you should keep in mind, for example,
the type of beneficiary you nominate can have tax implications for your dependant(s) when they receive your death
benefit. For this reason, we strongly recommend that you discuss your nomination with your financial adviser.

Binding nomination
Binding nominations are valid for a period of up to three years, and must be renewed on expiry. In most circumstances
we must pay your benefit to the beneficiaries you've nominated in a valid binding nomination and in the proportions
you've specified.
You must be aged 18 or over to make a binding nomination.
For a binding nomination to be valid:
– the total allocation must equal 100% and must be in whole numbers
– you can only nominate a dependant and/or your estate/legal personal representative (LPR)
– your nomination must be signed and dated in the presence of two witnesses who are over age 18 and who aren't
nominated beneficiaries.
Details of what will make a binding nomination invalid and treated as a non-binding nomination are outlined under
the heading when will my binding or non-lapsing nomination be treated as a non-binding nomination?
When we receive your nomination we will not check if your nominated beneficiaries are your dependants or your legal
personal representative.
If you nominate your legal personal representative as your beneficiary, please make sure that you have a valid and
current will. Payment to a legal personal representative may also take longer to effect as it is necessary for a Grant of
Probate or Letters of Administration to be issued before the benefit can be paid.
You should note that by directing payment to your legal personal representative you may be exposing the benefit to
claims by any creditors of your estate.

Non-lapsing nomination
A non-lapsing nomination is a request by you to the trustee to pay your benefit to the beneficiaries you've nominated
and in the proportions you've specified. If the trustee consents to the nomination and it's valid at the time of your death,
the trustee is bound to pay your death benefit in accordance with the nomination.
A non-lapsing nomination doesn't expire (and so doesn't need to be renewed) and will continue to apply until you
revoke an existing nomination or make a new nomination. In certain circumstances a non-lapsing nomination will be
treated as a non-binding nomination - see when will my binding or non-lapsing nomination be treated as a non-binding
nomination? in this fact sheet.
It's important that you review your non-lapsing nomination regularly to ensure that it's still appropriate for you.
You must be aged 18 or over to make a non-lapsing nomination.
For a non-lapsing nomination to be valid:
– the total allocation must equal 100% and must be in whole numbers
– you can only nominate a dependant and/or your LPR
– your nomination must be signed and dated in the presence of two witnesses who are over age 18 and who aren't
nominated beneficiaries.
When we receive your nomination we will not check if your nominated beneficiaries are your dependants or your legal
personal representative.

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When will my binding or non-lapsing nomination be treated as a non-binding nomination?
We'll automatically treat your nomination as though it was a non-binding nomination if:
– you and/or your witnesses don't sign or complete the binding nomination correctly
– you have a binding nomination, three years have passed from the date you signed the binding nomination form
(you will need to reconfirm your nomination every three years if you want to continue to have a binding nomination)
– any nominated beneficiary dies before you die
– any nominated beneficiary (other than the LPR) is not a dependant at the date of your death
– your relationship changes after signing the binding nomination form or the non-lapsing nomination form, eg you
get married, enter into a de facto relationship, get divorced or your de facto relationship ends.
If you revoke your binding nomination or your non-lapsing nomination in writing without making another nomination,
then we must pay your death benefit in accordance with the no nomination option.

Nominating a beneficiary under power of attorney

You can nominate a person or persons under a power of attorney to operate your membership. To do so, send us a
certified copy of a valid power of attorney together with a declaration that the appointment hasn't been revoked. The
legislation is different for each state and further information can be found online at
australia.gov.au/content/powers-of-attorney.
You must explicitly state in the power of attorney document that you allow the person you've nominated as your
attorney to nominate themselves as a beneficiary of your super, if this is your desire. If you don't explicitly state that
the appointed attorney can nominate themselves as a beneficiary the trustee will not implement any nomination
signed by the attorney nominating themselves.

Non-binding death benefit nomination

With a non-binding (or preferred) nomination the trustee must pay your death benefit to one or more of your dependants
or LPR in proportions that the trustee determines, however, we will take into account your non-binding nomination. If
you don't have any dependants or a LPR isn't appointed within a reasonable time, the trustee must pay your death
benefit to any other person or persons in proportions which the trustee determines.
A non-binding nomination will continue to apply until you cancel an existing nomination or make a new one. If you
cancel your non-binding nomination without making another nomination, then we must pay your death benefit in
accordance with the no nomination option.

Reversionary nomination
If you make a reversionary nomination, your retirement/pension account will continue to be paid to your spouse. You
can only nominate your spouse (including de facto spouse) as a reversionary nomination. If they're not your spouse
when you die then we'll pay your benefit in accordance with the no nomination option. The amount paid to the
reversionary beneficiary counts towards the beneficiary’s transfer balance cap.

No nomination
If you don't make a nomination or you cancel your existing nomination and don't make a new one, we must pay your
death benefit to your estate.
However, if your estate is insolvent or if an LPR hasn't been appointed within a reasonable period of time, then we'll
look to pay your dependants, or if none, other persons in proportions which the trustee determines.
If you don't have a death benefit nomination you should consider making a will.
It's important to review your nomination regularly and update it if your circumstances change.

When and how we pay your death benefit

Once we receive notification of your death, the balance will be paid to the Super Easy Cash investment option to protect
the account value from market volatility.
If you made a reversionary nomination, all amounts in your retirement account will remain in your chosen investment
options, with the exception of any amount held in a Super Easy Term Deposit, in which case the term deposit will break
and the amount transferred to Super Easy Cash. Interest will be allocated at an adjusted crediting rate. For more
information please refer to the additional information about Super Easy Term Deposits section in the investing and
your options fact sheet.

It’s important to understand the differences between a binding, non-lapsing and non-binding nomination and the
definitions of a dependant, as this may affect the payment of your benefit and its taxation.

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 Kiwisaver Scheme
At this time, we do not accept transfers from KiwiSaver schemes. However, you may transfer your benefits from your
super account to a New Zealand KiwiSaver scheme.

Important: We recommend you see your financial adviser or taxation adviser before transferring any amounts as
there may be currency risks and tax consequences.

EasyDraw
EasyDraw allows you to make an additional income payment or a partial withdrawal from your retirement account or
from unpreserved funds in your super account without needing to complete a withdrawal form. With EasyDraw, you
can tell us about the withdrawal by phone or via your online account at amp.com.au and have the money transferred
directly to your nominated bank account. You'll generally receive the money in your bank account within three business
days.
Minimum withdrawal: $500.
Maximum daily withdrawal: $20,000.
You can also set up your account to make regular withdrawals – fortnightly, monthly, quarterly, half-yearly or yearly.
You're automatically eligible for EasyDraw if you open a retirement account.

Keeping you informed

We’ll keep in touch by email
We may communicate with you by email if we have your email address.
To protect your privacy, we’ll ask you to login to My AMP for any communications that have personal information, such
as statements. And we’ll keep a copy for you in My AMP for whenever you need it—so less filing. We’ll email you
whenever a document is ready for you.
To register, visit amp.com.au/flexiblesuper or login to My AMP. You just need your member number to get started
which we will provide to you when we set up your account. You can check or update your email address in My AMP,
from the I want to menu and choose update my personal details.
If you’d prefer to receive communications by post, you can change your preferences any time in My AMP or you can call
us. You can also ask for a specific document to be sent to another email address or by post.
We may also update your contact details if we receive different details for you from sources such as application forms,
your adviser, employer, or government agencies. We may send you communications by post or other means from time
to time.
This includes all communications from all members of the AMP group. We might send you product disclosure statements,
statements and notices, product updates, financial services guides, statements of advice and any other communications
required or permitted by law.

Choice of fund
Certain employees have the right to choose the super fund to which their Superannuation Guarantee (SG) contributions
are to be paid.
You should seek advice from your Human Resources area or from your financial adviser to see whether Choice of Fund
applies to you.
If Choice of Fund does apply to you, and you'd like your employer (if any) to make all future SG contributions to your
AMP account, then complete the standard choice form, which you'll receive from your employer, and return it to your
employer.
Your insurance cover in AMP Flexible Super may be affected if you make a choice. If you decide to direct your future SG
contributions away from AMP Flexible Super to another fund, the terms and conditions of your current insurance
arrangements under AMP Flexible Super may change. The plan rules for your plan may require that your account is
transferred from the plan. If you choose to transfer (rollover) your existing balance in AMP Flexible Super to another
fund, your AMP Flexible Super account will close and your insurance cover under AMP Flexible Super (if any) may cease.
For more information see the appropriate insurance fact sheet and your member benefit schedule (employee members
only).

10
Member sub-accounts
Your AMP Flexible Super plan maintains various sub-accounts for you. The main sub-accounts available are:
– Employer main sub-account: Records minimum contributions required under an industrial award or agreement
or the superannuation guarantee legislation.
– Employer additional sub-account: Records any additional contributions made at the employer’s discretion.
– Salary Sacrifice sub-account: Records contributions your employer makes for you instead of paying salary.
– Member sub-account: Records member and spouse contributions, either regular or occasional, made from after-tax
income and government co-contributions.
– Rollover sub-account: Records amounts that you roll over from a previous super plan or rollover fund.

Policy committee
If you are an employee member, this super product may have a policy committee. The role of the policy committee is
to help a member (or the employer) enquire about the investment strategy, performance and operation of their super
account. The policy committee may also assist the trustee to obtain the views of members on these issues and in dealing
with any enquiry or complaint.
We're required to take all reasonable steps to set up a policy committee where:
– an employer has 50 or more employee members, or
– an employer has at least five but less than 50 employee members and the trustee has received a written request
to do so on behalf of at least five of those employee members.
There must be equal numbers of employer and member representatives on the policy committee. Employer
representatives are appointed by the employer. Member representatives of policy committees are generally elected by
members for a fixed term.
Details of the policy committee arrangements (if any) for the plan are shown on your member statement.
For more details of the policy committee arrangements (if any) for the plan, including obtaining a free copy of the
election rules or our guide how to set up a policy committee, please contact us on 131 267.

Regulated super fund certification from the trustee (to be shown to any
contributing employer)
The trustee has been granted a Registrable Superannuation Entity (RSE) Licence which came into effect 1 February
2006. Its RSE Licence number is L0000550. The trustee has registered the fund with APRA as an RSE. The registration
number for the fund is R1075274.
The fund is:
– a resident regulated super fund within the meaning of the Superannuation Industry (Supervision) Act 1993 (SIS)
– not subject to a direction under section 63 of SIS, and
– has never previously been subject to a direction under section 63 of SIS.
The trustee therefore confirms that the fund is a complying superannuation fund under Part 3-30 of the Income Tax
Assessment Act 1997.

Consolidation of multiple accounts

Each year the trustee will identify and review members who have multiple accounts within the fund. Where the trustee
reasonably determines that it is in the best interest of the member, the member’s accounts will be consolidated and
the member will receive an exit statement. Members may be provided the opportunity to choose not to consolidate
their accounts.

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 Section : ₂
Investing in super
In this section we highlight:

Flexible Investing

Choosing your investment options

This will help you determine your attitude to risk and the types of
investments you’ll be most comfortable with.

How your investment is valued

A quick overview of how unit prices are set.

Risks of investing
All investments involve some level of risk. It's important to understand the
different types of risk your investment will face.

Switching
We explain how you can change your investment options.

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Flexible investing
AMP Flexible Super gives you the flexibility to choose between the Core, Select or Choice investment levels, to guide
you through your investment goals.

Understanding Core, Select and Choice

Core Select Choice

Simple choices More choices Expert choices

(i) (i)
Member fee: $7.43 per month Member fee: $9.90 per month Member fee: $12.42 per month(i)
MySuper Member fee: $8.80 per month(i),(ii) MySuper Member fee: $8.80 per month(i),(ii) MySuper Member fee: $8.80 per month(i),(ii)

Low-cost super Features a range of diversified Choose up to 15 investments from a

Choose from a small range of diversified
options. Includes the AMP MySuper
Balanced option
Offers AMP Lifecycle Active – an
investment approach that continuously
evolves to suit the risk profile of
members in different age brackets. (iii)
Plus a Cash option
Super members can choose up to three
investments and retirees can choose two
investments designed to suit your
approach, from the cautious to the
aggressive investor
Offers AMP Lifecycle Active(iii)
Offers Super Easy LifeStages – an
investment which automatically adjusts
to safer, more defensive investments as
you get closer to retirement(iii)
Choose up to five investments
Auto-rebalance option readjusts your
portfolio every 3, 6 or 12 months
range of over 70 options from more than
15 fund managers
Features balanced options, diversified
options, term deposits, index options
and socially responsible options with
different investment approaches
Choice of a Lifestage strategy – Super
Easy LifeStages and AMP Lifecycle
Active(iii)
Auto-rebalance option readjusts your
portfolio every 3, 6 or 12 months

(i) This fee will increase on 1 July each year in line with the consumer price index (CPI).
(ii) If you invest your Super account wholly in the AMP MySuper Balanced option, you will pay the MySuper fees only. If you choose
to hold both AMP MySuper Balanced and other options, you will pay the MySuper Member fee, plus any excess of the other
relevant Member fee.
(iii) LifeStages and Lifecycle are only available for Super accounts

Choosing your investment options

Before you start, there are three things to consider:
1. Your investment goals: Are they short-term or long-term goals? How much will you need?
2. Your timeframe: When do you want to retire? If you've already retired, how long will your money last?
3. Your attitude to risk: Are you comfortable with negative returns in the short-term when seeking higher returns over
the long-term? Or, are you more comfortable with moderate and consistent returns?

Deciding what type of investor you are

Our what investor style am I? simulator is a quick way to help you work out your investment style. It shows the
relationship between risk and return as well as the impact of your time horizon. Visit
amp.com.au/calculators/investor_style.
We have a number of super and retirement calculators available at amp.com.au/calculators to help you make the right
decisions. You can also watch a range of educational videos at amp.com.au/videos.

What it means to invest

It's important to remember that when you invest in a particular investment option(s) you're selecting an exposure to
certain types of assets such as cash, fixed interest, property, alternative assets or shares. You don't receive any direct
entitlement to the assets underlying the investment option(s).

How your investment is valued

When investing in a fund through superannuation, your contribution will appear either as a dollar amount or as units.
This will also affect how your returns are credited to your account, which will either be as a:
– crediting rate investment, or
– unitised investment.

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 Crediting rate investment
Some investments have a crediting rate instead of a unit price, such as term deposits and cash investments. The crediting
rate is similar to an interest rate, but it can be negative, isn't guaranteed and can change at any time without notice.
The crediting rate is accrued daily and paid to your account according to the frequency specified in the description of
that option.

Unitised investment
The best way to allow many different investors to invest at the same time is to issue units, which represent a proportion
of the underlying assets of the total investment. This also allows people to withdraw at a time that suits them. The
value of the investment will change over time and unit prices will vary in line with this. When you invest in a unitised
investment we allocate units to you based on the investment amount and unit price.

Value of your Number of units held Unit

investment option = in the option x Price

Setting unit prices

AMP Life values the assets in each investment option at market prices and makes allowances (based on estimates) for:
– investment income and capital gains
– provision for tax on investment income and capital gains
– the costs of transacting
– operational costs incurred in maintaining property and other direct investments
– any administration fee, MySuper administration fee, investment fees, MySuper investment fees and performance
based fees.
The result of this valuation is then divided by the total number of units allocated. This gives the unit price. Unit prices
will generally rise and fall with movements in the value of the underlying assets.
Listed assets are valued at the end of each day using the price at that time. Other assets are valued in accordance with
our valuation policy.
If new investments are expected to exceed withdrawals from an investment option, then asset values may be adjusted
by adding an allowance for some or all of the costs of buying assets. This will increase the unit price.
If new investments are expected to be less than withdrawals from an investment option, then asset values may be
adjusted by subtracting an allowance for some or all of the costs of selling assets. This will decrease the unit price.

Calculating unit prices

AMP Life calculates unit prices each Sydney business day and generally makes these prices available the following
Sydney business day.

What unit price or crediting rate will you receive?

You'll receive the latest unit price calculated as at the date we receive all relevant information at an AMP processing
centre, provided it's received before 3pm Sydney time. Otherwise, it will be the unit price applicable for the next Sydney
business day.
The day that applies will also determine when you're credited with returns. There are exceptions to this rule as follows:
– If we need to delay switches or withdrawals, in which case you'll receive the unit price available at the time the
transaction occurs.
– If the transactions are for the Pension Refresh® Facility.

® Registered trademark of AMP Life Limited ABN 84 079 300 379

14
Monitoring unit prices
AMP Life has processes in place to check the accuracy of unit prices. You'll be compensated directly into your account
for any errors equal to or greater than 0.30% that affected the value of your transaction.
If you've closed your account, AMP Life will:
– pay compensation directly into another of your AMP accounts
– if your benefit isn't preserved, send you a compensation payment if the payment is above a dollar minimum set
by the trustee, or
– roll the compensation into the AMP Eligible Rollover Fund.
If we're unable to contact you or the payment is below a dollar minimum, the compensation will be paid into the fund
on an unallocated basis.
The trustee, acting in members’ interests, and AMP Life may agree to make other adjustments, as appropriate.

Risks of investing
In this section we look at some risks of investing. All investments have risk and you may not get back the same amount
you invested, so it’s important to understand what the risks are.

Type of risk Description

Investment risk The value of your investment can rise and fall. Even if the investment rises, it may not perform
according to your expectations, or the investment managers may not be able to achieve their stated
aims and objectives.
Inflation risk Your money may lose its purchasing power with inflation. When prices go up, your investment also
needs to go up by at least the rate of inflation or the real value of your investment will decline.
Timing risk The risk your funds are invested at an unfavourable point in the investment cycle. For instance,
buying into a market at higher market prices than those available soon after.
Market risk Changes in market conditions which may adversely impact your investments, such as inflation,
interest rates and global events.
Systemic risk Systemic risk refers to major movements across several asset classes, or to the entire system
simultaneously. This is generally due to some event affecting the economic system, eg global financial
crisis.
Liquidity risk Liquidity risk refers to how quickly an asset can be bought and sold in the market place, eg direct
property, hedge funds and unlisted equity investments.
Interest rate risk Interest rates affect all markets, particularly cash, cash-like securities and fixed interest investments.
For instance, bonds will generally lose value if market interest rates are higher than the bond’s fixed
rate.
International investment risk International investments are subject to the normal market risks, currency risk (exchange rate losses)
and the legal risk that the laws of other countries may not provide adequate protection.

15
 Individual asset class risk
Each type of market – also known as an asset class – has its own risks.

Asset class Description

Shares Shares are generally classified as a growth asset and include Australian shares and international
shares (which may be hedged or unhedged to the Australian dollar).
Specific risks include:
– industry risk factors
– disappointing profits and dividends
– management changes
– reassessment of the outlook for the company or industry
– currency risk for any investment in unhedged global shares.

Property Property is generally classified as a growth asset and covers listed and direct property, and global
and Australian property.
Risks of property include:
– vacancies
– location
– unprofitable property development activities
– declining values
– share market volatility
– delays in approvals
– liquidity
– international investment risk (global property).

Fixed interest Fixed interest is generally classified as a defensive asset and covers both Australian fixed interest
and international fixed interest.
Risks include:
– changes in interest rates – generally, the investment value falls if yields rise
– default
– liquidity
– international investment risk (for global fixed interest investments)
– credit risk – the risk that a a borrower will default on either the payment of interest or the return
of principal.

Cash Cash is generally classified as a defensive asset and may include corporate bonds and derivatives.
Historically, long-term returns have been generally lower and haven't kept up with inflation over
the long term.
Alternative assets Alternative assets can be broadly classified into growth and defensive asset classes. They include
non-traditional liquid investments that target positive and uncorrelated returns by using short
selling, gearing and derivatives. Investments such as private equity, venture capital, mezzanine
finance and other private placement debt often present higher risks.

16
How markets move
These two graphs show how markets, which historically have provided the best returns…

… also involve the greatest risk.

Historical performance is not a reliable indicator of future performance.

17
 Switching
You can switch between investment options at any time. There's currently no fee for switching between investment
options. Once we've received an investment option switch request it cannot be cancelled. On occasion there may be
circumstances beyond our control that could delay the processing of your request.
You may change your investment options at any time via your online account, or by completing the changing your
investment levels, options and fee mandate form, which can be obtained by visiting amp.com.au/flexiblesuper. Before
you decide to switch, we recommend you speak to a financial adviser.
Note: While you invest in LifeStages, you may not select any other investment options. If you wish to switch from
LifeStages to another investment option, you will need to switch your entire LifeStages balance. Members who were
invested in LifeStages as a default investment option prior to the introduction of MySuper may have an investment in
both LifeStages and MySuper.

Switches or withdrawals can be delayed

We may delay or suspend switches or withdrawals if:
– a switch or withdrawal would adversely affect the interests of, or if we do not consider it in the best interests of,
members in the relevant investment options offered through AMP Flexible Super as a whole
– we have not received all the information required to confirm your request (eg identification requirements), or
– we are unable to realise sufficient assets to satisfy your payment due to circumstances outside our control – for
example, restricted or suspended trading in the market for an asset.
We may also delay or suspend switches or withdrawals due to delays by investment managers – for example, the
investment manager may delay issuing unit prices for the underlying investment or the investment option may have
minimum investment limits or if the manager delays or suspends transactions.
The delays or suspensions could be for weeks, months, or even years.
When a delay or suspension of payment from the investment option occurs, it will affect a number of transactions and
features of this product, including, but not limited to:
– switches and withdrawals, including rollovers, transfers and the payments of Death and Total and Permanent
Disablement (TPD) benefits may occur in more than one payment, and
– on death, the transfer of money from the affected investment option to Super Easy Cash may be delayed.
We are not responsible for any losses caused by such delays.

Limited authority to operate

This feature is only available where the financial adviser's advice licensee has an arrangement in place with AMP Life.
You can instruct AMP to accept investment switching requests from your financial adviser on your behalf by completing
a confirmation of limited authority to operate form. By submitting this form your financial adviser will be able to switch
investment options in relation to your account at any time without the need for you to complete a switch form. Under
the limited authority to operate, your financial adviser will not be authorised to operate your account in any other way.
If you change your financial adviser you must tell us immediately in writing. If you don't inform us of the change, we'll
continue to process investment switching requests from your previous financial adviser.

Please note: A limited authority to operate (LATO) is an agreement solely between you and your financial adviser.
We'll accept instructions for investment switches from your adviser if they confirm you've given them authority to
act on your behalf. We will not request evidence from the adviser that this agreement is in place.

18
Auto-rebalancing
An auto-rebalancing facility means we’ll keep your funds invested according to your nominated investment profile, as
a percentage (%), over the long term. You can choose to have your account rebalanced either:
– quarterly: on or around 10 February, 10 May, 10 August and 10 November
– half yearly: on or around 10 February and 10 August, or
– yearly: on or around 10 August each year.
If any of these dates fall on a weekend or a Sydney public holiday, we'll rebalance your account on the next Sydney
business day.
There will be a 2% tolerance to prevent an auto-rebalance for significantly low amounts.
All future contributions, switches, or withdrawals may affect your auto-rebalancing facility.
You cannot select auto-rebalancing if you'd like your future contributions to be invested differently to your nominated
investment profile. If you transact outside your nominated investment profile, we'll cancel auto-rebalancing, unless
you advise us you want to change your allocations.
You can choose to apply auto-rebalancing to your account using the investment options selection form, available via
your online account at amp.com.au/flexiblesuper.
Auto-rebalancing is free of any fees.

19
 Section : ₃
Making a
contribution
In this section you’ll find more information about contributing to super:

All about contributions

We clarify the technical terms describing different types of contributions
and the caps on how much you can contribute.

Ways to boost your super

Understand the Federal Government’s co-contribution scheme, spouse
super, the effect of splitting contributions and how easy it is to consolidate
through AMP.

How to make a contribution

We explain how you can make a contribution.

20
All about contributions
Types of contributions
We can accept the following contributions into your account:

Contribution type (super account) Description

Member contributions Contributions you pay into super from your after-tax income, including
contributions for which you intend to claim a tax deduction.
Spouse contributions Contributions your spouse pays into your account for you, which they may then
be eligible to claim an offset for.
Superannuation guarantee (SG) and Money paid by your employer into a super fund under the SG legislation, and to
award/industrial arrangement employer comply with an award or industrial arrangement.
contributions

Salary sacrifice and additional employer Where you arrange for your employer to make contributions to your super account
contributions from your salary and wages.

Government co-contributions
Capital gains tax exempt contributions
Contributions from the proceeds of personal
injury payments
Federal Government scheme which aims to encourage saving in super by offering
to co-contribute a certain amount into your super.
You can make contributions to super which are sourced from some or all of the
capital gain or proceeds from the sale of a small business in certain circumstances.
You can make contributions to super which arise from a structured settlement or
order for personal injuries.

Transfer/Rollovers You can transfer or rollover existing super monies into your account at any time
no matter how old you are.

When can we accept contributions

There are restrictions on the types of contributions we can accept into your account depending on your age, the number
of hours you're working and other factors. These are set out in the table below:

Type of You're You're You're You're

contribution under age 65 age 65 to 69 age 70 to 74 age 75 or over(i)

Member contributions(ii) At any time. Only if you've already been Only if you've already been Cannot be
gainfully employed on at least a gainfully employed on at least accepted.
part-time basis at the time the a part-time basis at the time the
contributions are made.(iii) contributions are made.(iii)

Spouse contributions At any time. Only if you've been gainfully Cannot be accepted. Cannot be
employed on at least a part-time accepted.
basis at the time the contributions
are made.(iii)

Compulsory employer At any time. At any time. At any time. At any time.
contributions(iv) –
Superannuation Guarantee
(SG) and Award/Industrial
Arrangement.

Salary sacrifice and At any time. Only if you've already been Only if you've been gainfully Cannot be
additional employer gainfully employed on at least a employed on at least a accepted.
contributions part-time basis at time the part-time basis at the time the
contributions are made.(iii) contributions are made.(iii)

CGT exempt contributions At any time Only if you've been gainfully Only if you've been gainfully Cannot be
& overseas transfers employed on at least a part-time employed on at least a accepted.
basis at the time the contributions part-time basis at the time the
are made.(iii) contributions are made.(iii)

Government At any time. At any time. In limited circumstances(v) Not applicable.

co-contributions

Transfers/rollovers At any time. At any time. At any time. At any time.

(i) Personal and non-mandated contributions can be accepted after age 75 if made in the 28 days following the end of the month
you turn age 75. You must also have been gainfully employed on at least a part-time basis in the financial year contributions are
made.

21
 (ii) If we don’t have your Tax File Number (TFN), member and spouse contributions cannot be accepted (and therefore no government
co-contributions can be received). The ATO treats all member contributions, in the first instance, as non-concessional and adjusts
the contributions to concessional if a tax deduction is claimed in your income tax return.
(iii) You're considered to have been gainfully employed on at least a part-time basis if you're gainfully employed for at least 40 hours
in a period of not more than 30 consecutive days in that financial year.
(iv) If we don’t have your TFN, an additional tax called the no-TFN tax on concessional contributions will be deducted from your
account.
(v) You must be under age 71 at the end of the financial year in which an after-tax contribution is made to receive a government
co-contribution.

Contributions caps and tax on excess contributions

There are limits on the amount of contributions made to a super fund. These are known as contributions caps and are
applied to two types of contributions:
– concessional contributions
– non-concessional contributions.
Concessional contributions are generally those contributions made from your pre-tax income. These include
superannuation guarantee contributions and member contributions you've made and claimed as a tax deduction.
Concessional contributions include:
– employer contributions (including salary sacrifice contributions).
– defined benefit "notional" contributions.
– member contributions you claimed as a tax deduction.
– certain allocations of surplus.
Non-concessional contributions are generally contributions from after-tax income and include:
– member non-deductible contributions (personal after-tax contributions).
– spouse contributions.
– tax-free part part of overseas transfers.
Note: we cannot accept these contributions unless we have your TFN.

Please note: concessional contributions which are above their cap are also considered, and taxed, as non-concessional
contributions.

There are exclusions from the contributions caps, such as:

– transfers from taxed super funds
– proceeds from certain small business capital gains concessions, collectively capped at $1,445,000 in the 2017/18
financial year (indexed) qualifying for the:
– small business retirement exemption ($500,000 maximum)
– small business 15 year exemption proceeds.
– proceeds from certain personal injury settlements
– taxable amount of overseas transfers.

Type of contribution Cap Special arrangement

Concessional contributions $25,000 pa

Non-concessional contributions $100,000 pa. This cap is calculated as If under age 65, you can bring forward two years of
four times the standard concessional contributions and contribute up to $300,00 in one
contributions cap. (i) financial year(ii). You will not be able to make any more
non-concessional contributions for the next two years.

(i) No further non-concessional contribution cap is available if your total superannuation balance (from all sources) at 30 June of
the preceding financial year is $1.6 million (indexed) or more.
(ii) Again subject to your total superannuation balance being less than $1.6 million (indexed). There are restrictions on the ability
to trigger bring forward rules from 1 July 2017 for certain people with large total superannuation balances (more than $1.4
million as at 30 June 2017). Transitional rules apply where a person has triggered a bring forward prior to 1 July 2017 but has
not contributed the whole of the $540,000 bring forward amount by 30 June 2017.

22
Tax on excess contributions
Your assessable income automatically includes the amount of any excess concessional contributions made in the year.
The excess amount is taxed at your marginal tax rate, less a 15% tax offset. You'll also pay an excess concessional
contributions interest charge calculated by the ATO. In addition, you'll have the option of withdrawing up to 85% of
your excess concessional contributions from your super.
Amounts contributed above your non-concessional contributions caps will be taxed at 45% plus Medicare levy. However,
you have the option of electing to have those excess contributions plus 85% of an associated earnings amount released
from super and returned to you. Where you choose this option, no excess non-concessional contributions tax will be
payable and associated earnings will be taxed at your individual marginal tax rate less a 15% tax offset. Any excess
amount that aren't released from super will continue to be taxed at the top marginal tax rate plus Medicare levy.

Please note that the excess contributions tax rates are applied to the gross amount of the contribution or payment
and there is no reduction for death and disability premiums, unlike the standard 15% contributions tax allowance
on concessional contributions.

Release authority for refund of excess concessional contributions

Where you make an election to the ATO to release up to 85% of your excess concessional contributions, the ATO will
issue a release authority directly to AMP. We'll pay the amount in the release authority directly to the ATO.
Where the release authority relates to contributions in 2011/12 and 2012/13 financial years, it's payable within 30
days. Where it relates to the 2013/14 and later financial years, we must pay the ATO within seven days of receiving the
release authority.

Please note: We don't have to pay the release authority from a retirement account.

Release authority for the additional 15% tax on high income earners
If the ATO makes an assessment for the additional 15% tax on an individual as a high income earner, a release authority
is issued to you. The tax will generally be due and payable within 21 days. You may either pay the additional tax
personally or send the release authority to AMP within 120 days of the date of the release authority for AMP to pay the
tax liability from your account or pay the amount to you. This release authority is referred to as a voluntary release
authority.

Ways to boost your super

Salary sacrificing
Salary sacrificing is where you agree to forgo part of your future salary in return for your employer paying a pre-tax
contribution to your super. You can grow your super and reduce your tax at the same time.

Government co-contributions
The Federal Government provides a co-contribution to your after-tax personal member contributions, up to a maximum
co-contribution of $500 per year, if you're a low income earner and satisfy a number of qualifying rules. For the 2017/18
financial year, the payment reduces by 3.333 cents for every dollar you earn over $36, 813 and phases out completely
at total income of $51,813.
Note: To be considered eligible for a Federal Government co-contribution you must:
– have a balance less than $1.6 million at 30 June prior to the contribution being made, and
– have not exceeded your non-concessional contribution cap.

Spouse contributions
Making a spouse contribution may provide your spouse with a tax offset of up to $540 when they contribute to super
for you. This provides an incentive for couples to make sure both their super funds are growing.

Government low-income superannuation tax offset

The Federal Government will provide a tax offset to superannuation funds to counterbalance the tax paid on concessional
contributions made for you if you are a low income earner.

23
 Contribution splitting
You may, under certain circumstances, be able to split to your spouse’s super up to 85% of your annual employer
contributions and member contributions for which you claimed as a tax deduction.

Bring your super together

Consolidating your super into AMP Flexible Super is easy using our free super consolidation service. With our online
consolidation service, there's no paperwork. If you know your external fund name and account number we'll automatically
send through your consolidation request to the other fund. If you don’t know your other external fund details, we can
complete an ATO Super Search on your behalf with your consent to use your TFN. We'll get back to you within a few
days with the details.

Benefits of consolidating your super:

– Save on fees
If you have more than one super account, you're probably paying more in fees than you need to. You could reduce
the fees you pay by reducing the number of accounts you have and increasing the balance of your main fund.
– Help your balance grow
With compounding returns, the money you save in fees could really help your super balance grow.
– Reduce the chances of losing track of your super.
Consolidate your super online at amp.com.au/consolidate or by calling us on 131 267.

Important: Before consolidating, you need to consider how your existing super accounts compare to AMP Flexible
Super, whether any exit fees apply and what effect consolidating will have on any insurance cover. If you're unsure,
speak with your financial adviser or contact us.

How to make a contribution

You can make contributions to your account using the following payment methods:
– BPAY® – Your welcome letter and regular annual statements confirm your personal customer reference number
and biller codes
– cheque
– direct debit
– credit card
– pay in person by cash or cheque at any Australia Post Office
Your employer should make contributions via a SuperStream compliant method to your super fund. With SuperStream,
the contributions and the related data are sent electronically in a standard format.
Your employer will need this Unique Superannuation Identifier (USI) for AMP Flexible Super to make contributions for
you via SuperStream – AMP1248AU.

Other Employer SG contributions

AMP Flexible Super can accept SG contributions from employers for choice of fund purposes. See choice of fund section.
If you have more than one employer, you may wish to have those SG contributions paid into your AMP Flexible Super
account. If allowed, you can direct the other employer SG contributions to AMP Flexible Super by completing a choice
of superannuation fund form (available on amp.com.au/flexiblesuper) and return it to your other employer.
Other employer contributions can be paid via a range of SuperStream methods. To make a payment, your employer
will require the Unique Superannuation Identifier (USI): AMP1248AU.
When you leave AMP Flexible Super, you are responsible for re-directing all contributions made for your benefit to your
new super fund.

® Registered to BPAY Pty Ltd ABN 69 079 137 518

24
Employer responsibilities for contributions
Employers are required to make contributions for their employees (where applicable). These are known as superannuation
guarantee (SG) contributions. The mandatory SG rate is 9.5% of an employee's ordinary time earnings.
The maximum super contributions base for an employee for a quarter is $52,760 in the 2017/2018 financial year. SG
contributions aren't required on ordinary time earnings in excess of the limit.
These amounts must be paid at least quarterly by the 28th day following the end of the quarter (ie 28 October, 28
January, 28 April and 28 July).
If you authorise your employer to deduct voluntary member contributions from your after-tax salary, then these
contributions must be made to your AMP Flexible Super account within 28 days of the end of the month in which the
deduction was made.

How spouse contributions are treated

If you received spouse contributions to your account and you've never worked, then you can only access your benefit:
– once you attain your preservation age and purchase a transition to retirement income stream (see making the
transition to retirement in section one of this fact sheet)
– once you reach age 65
– if you have a terminal medical condition
– if you become permanently incapacitated, or
– if special circumstances apply, for example severe financial hardship or compassionate grounds.
If you're a working spouse, the rules as outlined above (see the when you can access your super section in this fact
sheet) apply when you're seeking to access your benefit.

Keeping track of contributions made

It is important for you to check your member statements to make sure your employer is making the right amount of
contributions.
We don’t follow-up your employer to make sure they are paying your contributions. If there is a discrepancy, then you
should speak to your employer.
You should also check that the amount of any government contributions is correct.
Log onto your secure online account at amp.com.au/flexiblesuper to view details about your super account at your
convenience.

Direct debit service agreement

The following terms will apply to any direct debit that you or your spouse set up to make contributions as mentioned
earlier in this section (these terms don't apply to any customer initiated direct debit made through AMP eSuper).
Before you request a direct debit arrangement you must check that the account you want to nominate can have direct
debits (eg some passbook savings accounts cannot have direct debit). To find out if we can debit from your account,
contact your financial institution.
Please double check any account details you provide by comparing them with a recent statement from your financial
institution.
This agreement allows AMP to deduct from your nominated account the amount and at the frequency you request.
If we want to change this agreement, we'll notify you 14 days in advance. If you disagree with this change, please notify
us within these 14 days.
Your financial institution account details will be kept confidential. However, these details will be disclosed:
– if you give permission
– if a court order applies
– to settle a claim, or
– if our financial institution needs information.
If the due date is on a weekend or public holiday, your payment will be processed on the next business day.
Please make sure you have enough money in your account on the due date for payment. If your financial institution
dishonours the payment there may be charges incurred.

25
 If you want to change or cancel this agreement or dispute a debit, contact us on 131 267. In particular, if you want to:
– change this agreement eg the amount you pay, how often you pay, account number, deferring payment due to
unforeseen circumstances, you need to contact us at least three days before the due date
– cancel this agreement or an individual payment, you need to contact us at least three days before the due date, or
– dispute a debit that has been made from your account, AMP will respond to your initial dispute within five days.
If you believe that a debit hasn't been correctly processed, you should contact us immediately on 131 267.
You indemnify us against all losses, costs, damages and liabilities that we suffer as a result of you breaching this
agreement, or providing us with an invalid or non-binding direct debit request addressed to us.
Your direct debit authority may not be created if a valid tax file number (TFN) hasn't been provided. If you haven't
provided a valid TFN your member or spouse (non-concessional) direct debit contributions request will be suspended
until you provide a valid TFN. These member or spouse direct debit contributions will start effective from the date you
provide a valid TFN. If you wish to make member contributions on which you intend to claim a personal tax deduction
you need to provide your TFN before making the contribution.

Ad hoc direct debit

You or your spouse can request us to transfer ad hoc amounts from your or your spouse’s bank account. Ad hoc direct
debits aren't an automatic periodical deduction of a fixed amount. Debits from your or your spouse’s bank account will
only occur each time you or your spouse instruct us.

Spouse direct debit arrangements

If your spouse sets up a direct debit arrangement to pay spouse contributions to your AMP Flexible Super account:
– all information about your spouse’s direct debit arrangement will be sent to you as the member (rather than your
spouse) using the contact address you've given us
– your spouse will need to agree to the terms of the direct debit service agreement
– your spouse should contact us directly if he/she wishes to vary or cancel his/her direct debit arrangement, and
– your spouse will need to consent to us using their personal information in accordance with the below.
In the following, ‘you’ and ‘your’ mean your spouse and not you as a member.
AMP Life’s primary purpose in collecting your personal information from you is to establish and manage a direct debit
arrangement from your bank account to pay for spouse contributions that you're making to your spouse’s AMP Flexible
Super account. This information will not be used for any other purpose but may be disclosed to your spouse, other
members of the AMP group, your spouse’s (or spouse’s employers) financial adviser or broker (if any), external service
suppliers who supply administrative, financial or other services to assist the AMP group in providing financial services,
anyone you have authorised or if required by law.
For more information about privacy, collection and disclosure of personal information, please read the AMP and your
privacy section.

Suspension and recommencement of a direct debit for regular contributions for

members aged 65 and over
If you're aged 65 or over, and you, your spouse or your employer have a direct debit arrangement for regular contributions,
this arrangement will be suspended unless we're satisfied that you meet the relevant working requirement or no
working requirement applies for that contribution type (see the making contributions section above). If you later tell
us that you satisfy the working requirement, we'll recommence the direct debit arrangement.

26
Section : ₄
Fees and other
costs
In this section you'll find out about:

The AMP MySuper investment option

Fees and other costs relating to your MySuper investment option

Choice investment options

Fees and other costs relating to your Choice investment options

Additional explanation of fees and costs

Flexible bonus

Defined fees

27
 Important notes
We refer to investment options that are not the AMP MySuper Balanced investment option as Choice investment
options.
This section shows fees and other costs that you may be charged. These fees and other costs may be deducted from
your money, from the returns on your investment or from the assets of the superannuation entity as a whole.
Other fees, such as activity fees, advice fees for personal advice and insurance fees, may also be charged, but these will
depend on the nature of the activity, advice or insurance chosen by you.
Taxes, insurance fees and other costs relating to insurance are set out in another part of this document.
You should read all the information about fees and other costs because it is important to understand their impact on
your investment.
The fees and other costs for the AMP MySuper Balanced investment option offered by the superannuation entity and
each choice investment option offered by the entity are set out in the investing and your options fact sheet.

Fees and other costs for the AMP MySuper Balanced option
(Please see the next table for fees and other costs for choice investment options)

AMP MySuper Balanced (super account only)

Type of fee Amount How and when paid

Investment fee 0.15% pa The MySuper investment fee is deducted

daily from the assets of the MySuper
investment option and reflected in the
unit price
Administration fee 0.50% pa The MySuper administration fee is
deducted daily from the assets of the
MySuper investment option and reflected
in the unit price

Plus $8.80 per month The MySuper member fee(i) is deducted

This fee will increase on 1 July each year in line with directly from your account each month
the Consumer Price Index

Buy-sell spread Nil, however a transaction cost allowance will apply Not applicable
- see other fees and costs below.
Switching fee Nil Not applicable

Exit fee $37.65 The MySuper exit fee is deducted directly

Advice fees relating to all members
investing in a particular MySuper
product or investment option
This fee will increase on 1 July each year in line with from your account on a full or partial
the Consumer Price Index withdrawal from the fund. It does not
apply to a withdrawal made to satisfy a
payment to the ATO under a release
authority.
Nil Not applicable

Other fees and costs
+/- 0–0.27%(ii)
Plus advice fees for personal advice(i) as agreed
between you and your financial adviser
Plus insurance fees(i) – insurance premiums will
apply if you have insurance cover
The transaction cost allowance(i) is either
deducted from, or added to, the assets of
the MySuper investment option in
arriving at the unit price. It may change
on a regular basis and is subject to change
without notice to you. When a change is
made, the value of your investment in the
investment option will either increase or
decrease.
Deducted directly from your account
Deducted directly from your account in
advance at the beginning of each month

Indirect cost ratio(iii) Estimated other indirect costs of 0.05% pa Other indirect costs(i) are deducted from
the underlying assets of the investment
option and reflected in the unit price as

28
 AMP MySuper Balanced (super account only)

Type of fee Amount How and when paid

and when they are incurred. They are

variable and may be more or less than the
amount shown.

(i) Refer to the additional explanation of fees and costs below for more information
(ii) The range shown here is based on the latest information available to us at the date of this document. The transaction cost
allowance can change at any time and may exceed the maximum amount shown.
(iii) Costs are variable and may be more or less than the estimated amounts shown which are based on the known actual or estimated
costs incurred for the last financial year. Past costs are not a reliable indicator of future costs.

Fees and other costs for choice investment options

AMP Flexible Super

Type of fee Amount How and when paid

Investment fee Depending on the investment level chosen the The investment fee(ii) is deducted daily from the assets of
amount you pay for specific investment each investment option and reflected in the unit price or
options(i) ranges between: crediting rate when declared
– Core: 0.15% and 0.40% pa
– Select: 0.10% and 0.40% pa
– Choice: 0.10% and 2.33% pa

Administration Depending on the investment level chosen the The administration fee is deducted daily from the assets
fee amount you pay for specific investment of each investment option and reflected in the unit price
options(i) ranges between: or crediting rate when declared
– Core: 0.25% and 0.60% pa
– Select: 0.25% and 0.60% pa
– Choice: 0.25% and 0.85% pa

Plus The Stronger Super fee(iii) is deducted daily from the assets
0.04% pa for super accounts only of each investment option and reflected in the unit price
or crediting rate when declared
(iv)
Less, depending on your account balance (applies to The administration fee rebate is paid directly into your
Choice investment level only): account each month. You may qualify for a higher rebate
under the flexible bonus(iv) feature.
Total relationship Rebate rate Rebate rate
balance % pa on the % pa on the
balance balance
invested in: invested in
Super Easy all other
investment investment
options, options
AMP Capital
Dynamic
Markets,
AMP
Dynamic
Balanced
and AMP
Lifecycle
Active
investment
options.

Under $100,000 Nil Nil

$100,000–$199,999 Nil 0.30
$200,000–$499,999 Nil 0.40
$500,000–$999,999 Nil 0.55
$1,000,000–$2,999,999 0.10 0.70
$3,000,000 or more 0.20 0.85

29
 AMP Flexible Super

Type of fee Amount How and when paid

Plus, depending on the investment level chosen: The member fee(iv) is deducted directly from your
– Core: $7.43 per month account each month. It is deducted from each investment
option (excluding the Super Easy Term Deposit and the
– Select: $9.90 per month
AMP MySuper Balanced investment options) in proportion
– Choice: $12.42 per month
to your investment in each option.
This fee will increase on 1 July each year in line with
the Consumer Price Index

Buy-sell spread Nil, however a transaction cost allowance may apply Not applicable
- see other fees and costs below.
Switching fee Nil Not applicable
(v)
Exit fee Nil except for GIO members Not applicable

Advice fees Nil Not applicable

relating to all
members
investing in a
particular
MySuper product
or investment
option
Other fees and 0 to +/- 0–1.04%(vi) depending on the investment The transaction cost allowance(iv) is either deducted from,
costs option(i) or added to, the assets of the relevant investment option
in arriving at the unit price. It may change on a regular basis
and is subject to change without notice to you. When a
change is made, the value of your investment in the
investment option will either increase or decrease.
Plus advice fees for personal advice(iv) as agreed Deducted directly from your account
between you and your financial adviser
Plus insurance fees(iv) - insurance premiums will apply Deducted directly from your account in advance at the
if you have insurance cover beginning of each month

Indirect cost 0 to 2.21% pa depending on the investment option(i), Performance based fees(iv) are paid to certain investment
ratio(vii) consisting of estimated performance based fees managers when they meet specific investment performance
and other indirect costs. targets. They are deducted from the underlying assets of
the investment option and reflected in the unit price. They
are variable and may be more or less than the amounts
shown.
Other indirect costs(iv) are deducted from the underlying
assets of the investment option and reflected in the unit
price as and when they are incurred. They are variable and
may be more or less than the amounts shown.

(i) Refer to the fees and costs section in the investing and your options fact sheet for amounts for each investment option
(ii) For certain investment options, the investment fee may include estimates of amounts deducted from underlying investments
including amounts charged on the gross assets of the underlying investment. These estimated amounts may vary and as a result
the investment fee for these investment options may be more or less than the amounts shown which are based on the known
actual or estimated costs incurred for the last financial year. Past costs are not a reliable indicator of future costs.
(iii) The Federal Government has introduced Stronger Super, a program of changes designed to streamline and strengthen Australia’s
superannuation system. The Stronger Super fee is to help cover the costs associated with implementing these changes. This fee
is expected to cease by 1 November 2018.
(iv) Refer to the additional explanation of fees and costs below for more information
(v) For GIO members transferred to an AMP product, a special exit fee may apply if you transfer to a retirement account or leave the
product. This will be shown on your last member statement. This fee is also charged whenever you withdraw a lump sum from
your retirement account.
(vi) The range shown here is based on the latest information available to us at the date of this document. The transaction cost
allowance for an investment option can change at any time and may exceed the maximum amount shown.
(vii) Costs are variable and may be more or less than the estimated amounts shown which are based on the known actual or estimated
costs incurred for the last financial year. Past costs are not a reliable indicator of future costs.

Please note: For the definitions of the fees and costs in the table above please refer to defined fees below.

30
Additional explanation of fees and costs
Administration fee rebates
You may benefit from an administration fee rebate if your account balance at the end of a month is $100,000 or more.
The administration fee rebate rate is determined using your total relationship balance at the end of the month.
Your total relationship balance is described below:

Type of member Total relationship balance

– Employer sponsored member The size of the member’s employer plan(i)

(employee member)
– Family member who is linked to an
employee member under family
membership(ii)

– Employee member with a link to an
Association Business Group
– Family member who is linked to an
employee member within an
Association Business Group under
family membership(ii)
The size of the Association Business Group, which is:
– the size of the member’s employer plan(i); plus
– a percentage of the sizes of the other employer plans(i) that are part of the Association
Business Group as follows:
Association Business Group type(iii) %

Associated employer 100

Employer association 20
Franchise 100
– Personal member who is not linked The sum of the member’s super and retirement accounts. If you are a personal super
to an employee member under family member, you may be eligible to link a family member under the flexible bonus - see the
membership(ii) flexible bonus in this section for more information.

(i) The size of the employer plan is determined as the sum of all:
– employee members’ super accounts and (if linked) retirement accounts in that plan.
– family members’ super and retirement accounts, if those members are linked under family membership to employee members
in that plan.
(ii) See eligible relationships - flexible bonus in this section and eligible relationships - family membership in the section other
information about AMP Flexible Super for more information.
(iii) Association Business Group types are:
– Associated employer: a group of employers that are companies that satisfy the definition of Associated Entity in section 50AAA
of the Corporations Act 2001 (Cth) that AMP has agreed to recognise as an Association Business Group for the purpose of
determining administration fee rebates.
– Employer association: an organisation representing a group of employers with similar interests that AMP and the employer
have agreed to recognise as an Association Business Group for the purpose of determining administration fee rebates.
– Franchise: a group of employers licensed by a franchisor to operate a franchise system that AMP has agreed to recognise as
an Association Business Group for the purpose of determining administration fee rebates.

The administration fee rebate is calculated by applying the applicable rebate rate (converted to an equivalent monthly
rate) to the balance held in each applicable investment option at the end of the month - see fees and other costs for
choice investment options above for the rebate rate that applies depending on your total relationship balance and the
investment option held.
The administration fee rebate doesn't apply to the AMP MySuper Balanced investment option.
The rebate amounts are reduced by up to 15% to allow for the tax deduction which has already been included in the
original fee.
Any administration fee rebate will be paid directly into your account by issuing you with additional units (or for crediting
rate options, by increasing your account balance) in the applicable investment option(s), usually within seven Sydney
business days after the end of the month. If you withdraw your money before we pay the rebate, no administration
fee rebate will be payable for that month.

31
 Flexible bonus
Flexible bonus means you may pay less for your super if you and a family member link your AMP accounts together.

Linking the accounts

Accounts in the following products are eligible to be linked under flexible bonus:
– Flexible Lifetime – Super
– AMP Flexible Super
– Flexible Lifetime – Allocated Pension
– Flexible Lifetime – Term Pension
– Flexible Lifetime – Investments (Series 1 and 2).
The administration fee rebate rate for linked accounts is based on the total of the linked account balances at the end
of the month.
For AMP Flexible Super and Flexible Lifetime – Super, the administration fee rebate doesn't apply to the AMP MySuper
investment option but they are included in determining the administration fee rebate under the flexible bonus.
For Flexible Lifetime – Investments (Series 1 and Series 2), the management fee rebate doesn't apply to balances in the
three AMP Monthly Income Fund investment options but they are included in determining the level of the management
fee rebate under the flexible bonus.

Tip: The administration fee rebate is called the management fee rebate in Flexible Lifetime – Investments.

The flexible bonus option can only be used to link your account with one other person's AMP account. Your account
cannot be linked under the flexible bonus option if it results in a third person benefiting from the administration fee
rebate. This includes accounts held jointly or by a company, partnership, deceased estate, trust, super fund or
parent/guardian on behalf of a child under the age of 18.

How the flexible bonus is worked out

Your entitlement to the flexible bonus is described in this table:

Type of member Total relationship balance

Family member who is linked to an
employee member under family
membership.
You are not eligible for any additional rebates in respect of your AMP Flexible Super account.
You may be entitled to rebates for your Flexible Lifetime products linked under flexible
bonus. The rebate rate for linked products is determined by the total of linked account
balances at the end of the month. The current rebate tiers and rates for those products,
outlined in the fees and other costs for choice investment options table in this fact sheet,
will apply.

Personal member who is not linked to
an employee member under family
membership.
The rebate rate for linked products is determined by the total of linked account balances
at the end of the month. The applicable account balances includes AMP Flexible Super
account, your other eligible AMP products as well as those of your family member who is
linked under the flexible bonus. The current rebate tiers and rates for AMP Flexible Super
outlined in the fees and other costs for choice investment options table in this fact sheet
will apply.

Any rebate payable under the flexible bonus is paid in the same way as any administration fee rebate except that the
payment occurs on the 15th day of each month. If you close your account after the end of the month, but before the
15th day of the next month, no rebate under the flexible bonus will be payable for the previous month.

Please note: We take into account any administration fee rebate you receive for your account for the month when
determining the additional amount of administration fee rebate you are entitled to under the flexible bonus for
that month.

Eligible relationships – Flexible bonus

You can apply to link your account with another person for flexible bonus if they're:
– your spouse, parent, sibling (brother/sister), child, grandparent, grandchild, father/mother-in-law,
brother/sister-in-law, son/daughter-in-law, or
– someone with whom you have an interdependency relationship. For more information please refer to what is an
interdependency relationship? section in this fact sheet.

32
How to apply for the flexible bonus
If you'd like to link any of your accounts, please use the flexible bonus form at amp.com.au/flexiblesuper or call us on
131 267 for a copy. If we receive a form after the 25th of the month, the link (and eligibility for any
increased administration fee rebate under the flexible bonus) will not apply until the end of the following month.
When linking your accounts, you and your linked member consent to the sharing and disclosure of the account name,
account number and account type with each other (and if applicable, each other’s financial advisers).
We may cancel a link if you no longer satisfy the criteria outlined above.
If you want to link an account to a different member, you'll need to cancel the link with the existing linked member. In
the event of death, your accounts remain linked until a death benefit is paid from the relevant account.

Advice fees for personal advice

Please note: You may have to pay additional fees to your financial adviser if you consult one. Please refer to the
statement of advice or member acknowledgement form (general advice) you will be given by your financial adviser.

You may agree with your financial adviser for a fee to be paid for the services provided to you. This fee may be:
– a one-off amount paid as a lump sum, and/or
– an ongoing fee, paid monthly, which is either:
– a fixed amount, or
– a set percentage of your account balance.
Advice fees for personal advice must only be for services provided in respect of your AMP Flexible Super account and
must not be used to pay for any other products or financial planning advice about broader non-super savings and
investment opportunities.
If a financial adviser’s Australian financial services (AFS) licensee has an agreement with AMP Life and the trustee agrees
to it, AMP Life will be responsible for paying the fee and will charge a fee of an equivalent amount to your AMP Flexible
Super account. Your financial adviser may receive only part of the fee paid. Your financial adviser’s AFS licensee may
also make additional payments to your financial adviser. For more details of those payments and any other benefits,
ask your financial adviser.
Any ongoing advice fee is deducted from your account, effective the last day of the month.
Advice fees for personal advice agreed with your financial adviser will only be paid from the date your balance first
reaches $1,200 or more. If your account balance is $1,000 or less, or a payment of the above fee(s) would result in your
account balance decreasing to $1,000 or less, no payment will apply. For your retirement account, no minimum applies.
You can change or cancel any ongoing advice fee by agreement with your financial adviser and by completing a changing
your personalised fee structure form.
We need to receive your completed form at least four Sydney business days before the end of the month, for the change
or cancellation to apply in that month.

Member general advice service

If you are an employee member as part of an employer plan, you may wish to engage an adviser to provide you with
additional general advice. This is in addition to any free standard services provided to you under your employer super
plan. The member general advice service does not involve any personal advice, therefore a statement of advice will not
be produced.
The member general advice service will attract an additional fee, and is paid by you to your adviser. This fee is an ongoing
monthly advice fee, which will be deducted from your super account and, if applicable, will reduce the cost of any
personal advice provided.

33
 Borrowing costs
Some investment options have underlying investments that use credit facilities to gain increased asset exposures.
Borrowing costs include costs relating to a credit facility such as interest, government charges and debt advisory costs.
They are deducted from the underlying assets of the investment option and reflected in the unit price or crediting rate
declared as and when they are incurred and are an additional cost to you.
Borrowing costs are estimated based on the actual costs incurred for the last financial year. Where the actual costs are
not known, we have estimated these costs based on the latest information available to us. Where an investment option
is new, or was first made available during this or the last financial year, we have estimated the costs that will apply to
the current financial year.
Borrowing costs are not included in other indirect costs.
Estimates of borrowing costs as applicable for each investment option can be found in the fees and costs section of
the investing and your options fact sheet.

Changing the fees

The fees that currently apply to your AMP Flexible Super account are charged by AMP Life under a life policy issued to
the trustee. Under the policy, AMP Life is entitled to make some changes to the fees by giving notice to the trustee. The
trustee and AMP Life may also change the fees, or introduce new fees, if they agree. None of these changes require
your consent. We'll notify you at least 30 days before any increase in fees except those fee increases in line with the
Consumer Price Index (CPI) where no notice will be given.
The trust deed for the AMP Retirement Trust permits us to be paid remuneration out of the trust of up to 3% pa of a
member’s account balance. This isn't currently charged, but we reserve the right to do so in the future.
The MySuper member fee, MySuper exit fee and member fee are increase on 1 July each year in line with increases in
the CPI.
There are maximum fees set out in the life policies issued by AMP Life as follows:

Fees and costs Maximum fee

MySuper administration fee Up to 2.5% pa of the amount invested in the AMP MySuper investment option each
year.
MySuper investment fee No maximum. However, the investment fee on the AMP MySuper investment option
may only be increased up to a maximum of 1.5% pa at any time

We can also change the performance based fees negotiated with investment managers without prior notice to you.

Deductions and rebates profile

The deductions and rebates profile enables you to nominate a single investment option where fees, premiums and
other costs are deducted from, and rebates are credited to. Only MySuper fees are deducted from the AMP MySuper
Balanced investment option. You can’t nominate the AMP MySuper Balanced investment option for other investment
options' deductions and rebates.
If you haven't nominated an investment option or if there are insufficient funds in your nominated option, then the
deduction will be taken proportionally from all investment options (excluding the AMP MySuper Balanced and Super
Easy Term deposit investments).
If you haven't nominated a deductions and rebates profile, rebates will be allocated in proportion to your investment
balances (excluding AMP MySuper Balanced and Super Easy Term deposit investments).

Indirect cost ratio

The trustee has elected to treat certain costs that are not paid out of the superannuation fund as indirect costs. These
are disclosed under the indirect cost ratio and consist of performance based fees and other indirect costs.
The fees we charge are not subject to this election and are disclosed under the relevant fee headings in the above fees
and other costs table. In addition, estimates of any management fees charged by any investment managers appointed
by us, or any underlying investment managers, are disclosed under the investment fee.

34
Performance based fees
The trustee does not directly charge a performance fee, however performance based fees (PBFs) are paid to certain
investment managers. A PBF is a reward an investment manager receives if they exceed specific performance targets,
normally up to 25% of the outperformance over the relevant benchmark index. Any PBFs charged are deducted from
the underlying assets of the investment option and reflected in the unit price or crediting rate declared and are in
addition to any investment or administration fees.
Each PBF is calculated slightly differently but they all have the following common elements:
– A PBF is only payable to a manager if they achieve a target level of return.
– Each time a PBF is paid the portfolio must reach the previous highest value plus the appropriate performance
hurdle before a new PBF is payable.
– PBFs are calculated and accrued regularly (at least monthly) and incorporated into the calculation of unit prices.
The accrued PBF can rise or fall in line with delivered performance.
– PBFs are only payable at the end of each financial year and in certain circumstance payments may be delayed.
Multi-sector and multi-manager investment options may have a number of investment managers with PBFs, and each
will be determined on each investment manager’s performance. This means an individual manager can earn its PBF
irrespective of the investment option’s overall investment returns.
PBFs for each investment option are based on the actual costs incurred for the last financial year. Where the actual
costs are not known we have estimated these costs based on the latest information available to us. Where an investment
option is new, or was first made available during this or the last financial year, or where a PBF has been introduced to
an existing investment option, we have estimated the PBF that will apply to the current financial year. These amounts
are not an indication of future performance and should not be relied on as such. If the investment performance of a
particular asset class is better than the set benchmark the PBF paid could be much higher.
Estimates of performance based fees for each investment option can be found in the fees and costs section of
the investing and your options fact sheet.

Performance based fee example

The following example shows how a performance based fee (PBF) is calculated. The example should not be taken as
the amount of the actual PBF in relation to this product. The actual PBF for each investment option will depend on
various other factors.

ABC Investment Option is a hypothetical Multi-sector (Traditional) investment option. It has a multi-manager
investment approach and certain investment managers within some of the asset classes have a PBF of up to 25%
of their outperformance over their relevant benchmark index.

For the purpose of this example, the following three assumptions apply.

Assumptions

Assumption 1 The ABC investment option’s asset allocation (by asset class) and percentage of investment managers
for each asset class entitled to PBFs is shown in the table below.
Asset class (A) % allocation to each asset (B) % of managers entitled to a
class PBF

Global shares 27 100

Australian shares 28 45
Growth alternatives 12 100
Direct property
6 20
Listed property
Defensive alternatives 6 100
Global bonds 7 0
Australian bonds 11 40
Cash 3 0
Assumption 2 PBF as a % of outperformance payable for all asset classes = 25%
Assumption 3 Performance in excess of the benchmark for each investment manager = 1%

35
 The estimated PBF for each asset class is calculated using the following formula:

(A) Allocation to an (B) % of managers (25%) PBF as a % of (1%) the performance in

asset class X entitled to a PBF X outperformance X excess of the benchmark
(Assumption 1) (Assumption 1) (Assumption 2) (Assumption 3)

Based on the calculation below, if you have a balance of $100,000 in the ABC investment option and if the outperformance
of 1% by all the managers occurs in one year, the total PBF to you for this option across all the asset classes would be
$158.

Asset sector Assumption 1 % Assumption 1 % Assumption 2 % Assumption 3 % Total PBF % Total PBF ($)
(A) (B)

Global shares 27 100 25 1 0.0675 67.50

Australian shares 28 45 25 1 0.0315 31.50
Growth alternatives 12 100 25 1 0.0300 30.00
Direct and listed property 6 20 25 1 0.0030 3.00
Defensive alternatives 6 100 25 1 0.0150 15.00
Global bonds 7 0 25 1 0.0000 –
Australian bonds 11 40 25 1 0.0110 11.00
Cash 3 0 25 1 0.0000 –
Total 158.00

Further details of the investment options that have one or more investment managers who can earn a PBF is available
on request.

Other indirect costs

Other indirect costs are incorporated into the investment option’s unit price (or crediting rate, if applicable). They
include costs incurred in any underlying investment vehicles. They are not fixed, will vary from time to time and will
depend on the actual mix and type of assets of the underlying investments, the trading of those assets, and the actual
costs incurred.
They comprise of:
– certain transaction costs, such as brokerage, settlement and clearing costs, stamp duty, and the buy/sell spreads
of any underlying managed funds, which have not been paid for from the transaction cost allowance;
– investment related costs, such as audit and legal fees, tax and accounting services, custody, regulatory compliance
and registry services and securities lending costs; and
– costs of investing in, and trading, over-the-counter (OTC) derivatives.
They do not include borrowing costs or certain other transactional and operational costs.
Other indirect costs are estimated based on the actual costs incurred for the last financial year. Where the actual costs
are not known, we have estimated these costs based on the latest information available to us. Where an investment
option is new, or was first made available during this or the last financial year, we have estimated the costs that will
apply to the current financial year.
Estimates of other indirect costs for each investment option can be found in the fees and costs section of the investing
and your options fact sheet.

Insurance commissions
We may pay commission on insurance premiums to your financial adviser if you have selected choice investment
option(s) and Super Protection. We normally pay a standard commission to your financial adviser, you do not pay an
additional amount.
There are no commissions paid if you have invested in the MySuper investment option. You can obtain details on
commission rates from your financial adviser.
There is no commission paid if you take out Essential Protection insurance. If you take out Super Protection insurance,
there is no commission paid if you are invested 100% in AMP MySuper Balanced at the time you take out a new policy,
or if your insurance premiums are deducted from the AMP MySuper Balanced investment option
For more information about the costs of insurance, see the insurance in your super section in the PDS, your member
benefit schedule (employee members only) and the appropriate insurance fact sheet.

36
Insurance fees
If you have insurance, a premium will be deducted from your super account each month to pay for your insurance. We
will deduct your insurance premiums, in the following order:
1. First, from any money held in Choice investment option(s), excluding any amount held in term deposits.
2. If there is insufficient money in Choice investment option(s), or if your only investment is in the MySuper investment
option, we will then deduct from the MySuper investment option.

Member fee
If applicable, the member fee is deducted directly from your account, usually within seven Sydney business days after
the end of the month, by cashing units for each unitised investment option or reducing your account balance for each
crediting rate investment option(excluding any term deposits).
If you have nominated a single investment option under the deductions and rebate profile, the member fee is generally
paid from that option, otherwise it is deducted from each investment option (excluding any term deposits) according
to the proportion of your total account balance invested in each option.
If you are also invested in the AMP MySuper Balanced investment option, the MySuper member fee will be deducted
from your MySuper investment option and any excess of the applicable member fee over the MySuper member fee
will be deducted from your choice investment option(s). If you are invested in the AMP MySuper Balanced investment
option and term deposits only, the excess applicable member fee is accrued and deducted from interest payments or
on a break of the term deposit.

MySuper member fee

The MySuper member fee is deducted directly from your account, usually within the first seven Sydney business days
of the month, by cashing units in your AMP MySuper Balanced investment option.
If you leave during the month we may deduct a proportional amount of the MySuper member fee for the number of
days in the month that you were a member.

Taxation and fees

The actual amount of fees you pay (or rebates you receive) in AMP Flexible Super will be reduced by up to 15%.
This is because super funds currently receive a tax deduction for expenses, which is passed on to you. The fees and
rebates shown in the tables of fees and other costs in this fact sheet are before any applicable tax deduction.
The fees described in the PDS and the fact sheets include, if applicable, GST less input tax credits. Further information
on taxes are set out in the PDS and the taxes section of this fact sheet.

Transactional and operational costs

Transactional and operational costs are generally incurred when dealing with the assets of the relevant investment
option, including any assets of any investment vehicles in which the investment option invests.
Transactional and operational costs incurred by an investment option consist of transaction costs, less any amounts
recovered by the charging of a transaction cost allowance, and property operating costs.
Transactional and operational costs are estimated based on the actual costs incurred for the last financial year. Where
the actual costs are not known, we have estimated these costs based on the latest information available to us. Where
an investment option is new, or was first made available during this or the last financial year, we have estimated
the costs that will apply to the current financial year.
Details of estimates of transactional and operational costs for each investment option, including transaction costs
before and after any amounts recovered by the charging of a transaction cost allowance, and property operating costs,
can be found in the fees and costs section of the investing and your options fact sheet.

37
 Transaction costs
Transaction costs include brokerage, settlement and clearing costs, stamp duty, the buy/sell spreads of any underlying
managed funds and the bid/offer spread on any physical securities such as shares and bonds.
A buy spread on a managed fund represents the difference between the (higher) buy price and the net asset valuation
of the fund, whereas the sell spread represents the difference between the (lower) sell price and the net asset valuation
of the fund.
A bid/offer spread of a physical security represents the difference between the highest price that a buyer is willing to
pay (bid) for a security and the lowest price that a seller is willing to accept (offer) for the same security.
Transaction costs are deducted from the assets of the investment option as and when they are incurred. Transaction
costs may be recovered in whole or in part by the charging of a transaction cost allowance. Net transaction costs after
any recovery are reflected in the unit price (or crediting rate, as applicable) and are an additional cost to you.
Net transaction costs are included in other indirect costs, except for bid/offer spreads which are excluded.

Transaction cost allowance

The unit price for each investment option includes a transaction cost allowance which is based on an estimate of the
anticipated transaction costs each investment option will incur. The transaction cost allowance aims to offset the
actual transaction costs incurred and isn't paid to us or any investment manager.
The anticipated transaction costs are based on forecast new investments and withdrawals for each investment option.
For example:
– If new investments are expected to exceed withdrawals from an investment option, then asset values may be
adjusted by adding an allowance for the costs of buying assets which will increase the unit price.
– Similarly, if new investments are expected to be less than withdrawals then asset values may be adjusted by
subtracting an allowance for the costs of selling assets which will decrease the unit price.
The transaction cost allowance may change on a regular basis and can change without notice to you. Depending on
the change, the value of your investment in the investment option will either increase (a benefit to you) or decrease (a
cost to you).
The transaction cost allowance does not apply to investment options that declare a crediting rate.
The transaction costs allowance ranges for each investment option are shown in the investing and your options fact
sheet.
Property operating costs
Some investment options have direct or underlying investments that have exposure to real estate assets or hold
investment vehicles that have exposure to real estate assets.
These investment options may incur property operating costs in relation to the management of these assets including
rates, utilities, repairs and maintenance costs that have not been recovered from tenants.
Property operating costs are deducted from the underlying assets of the investment option and reflected in the unit
price (or crediting rate, if applicable) as and when they are incurred and are an additional cost to you.
They are not included in other indirect costs.

38
Defined fees
When used in the PDS (including this fact sheet), the following types of fees have the meaning described below.

Fee Definition

Activity fee A fee is an activity fee if:

– the fee relates to costs incurred by the trustee of the superannuation entity that are directly related to an
activity of the trustee:
– that is engaged in at the request, or with the consent, of a member; or
– that relates to a member and is required by law; and
– those costs are not otherwise charged as an administration fee, an investment fee, a buy-sell spread, a
switching fee, an exit fee, an advice fee or an insurance fee.

Administration fee An administration fee is a fee that relates to the administration or operation of the superannuation entity and
includes costs that relate to that administration or operation, other than:
– borrowing costs; and
– indirect costs that are not paid out of the superannuation entity that the trustee has elected in writing
will be treated as indirect costs and not fees, incurred by the trustee of the entity or in an interposed
vehicle or derivative financial product; and
– costs that are otherwise charged as an investment fee, a buy-sell spread, a switching fee, an exit fee, an
activity fee, an advice fee or an insurance fee.

Advice fee A fee is an advice fee if:

– the fee relates directly to costs incurred by the trustee of the superannuation entity because of the provision
of financial product advice to a member by:
– a trustee of the entity; or
– another person acting as an employee of, or under an arrangement with, the trustee of the entity;
and
– those costs are not otherwise charged as an administration fee, an investment fee, a switching fee, an
exit fee, an activity fee or an insurance fee.

Buy-sell spread A buy-sell spread is a fee to recover transaction costs incurred by the trustee of the superannuation entity in
relation to the sale and purchase of assets of the entity.
Exit fee An exit fee is a fee to recover the costs of disposing of all or part of members' interests in the superannuation
entity.
Indirect cost ratio The indirect cost ratio (ICR), for a MySuper product or an investment option offered by a superannuation entity,
is the ratio of the total of the indirect costs for the MySuper product or investment option, to the total average
net assets of the superannuation entity attributed to the MySuper product or investment option.
Note: A dollar-based fee deducted directly from a member's account is not included in the ICR.

Insurance fee An insurance fee is a fee that relates to insurance premiums and costs incurred in providing insurance.
Investment fee An investment fee is a fee that relates to the investment of the assets of a superannuation entity and includes:
– fees in payment for the exercise of care and expertise in the investment of those assets (including
performance fees); and
– costs that relate to the investment of assets of the entity, other than:
– borrowing costs; and
– indirect costs that are not paid out of the superannuation entity that the trustee has elected in
writing will be treated as indirect costs and not fees, incurred by the trustee of the entity or in an
interposed vehicle or derivative financial product; and
– costs that are otherwise charged as an administration fee, a buy-sell spread, a switching fee, an
exit fee, an activity fee, an advice fee or an insurance fee.

Switching fee A switching fee:

– for a MySuper product, is a fee to recover the costs of switching all or part of a member's interest to
or from a MySuper product; and
– for Choice investment options, is a fee to recover the costs of switching all or part of a member's
interest from one investment option to another.

39
 Section : ₅
Taxes
In this section you’ll read about:

How super is taxed

Find out about the taxes on your super, both on money being contributed
and as you withdraw.

This tax and social security information is of a general nature only and only considers Australian
Commonwealth laws. Tax and social security laws are complex and can change. We recommend you discuss
your circumstances with your financial adviser and/or tax adviser before you decide to invest.

40
Tax
Generally, your super is taxed:
– when contributions are made
– while your money is invested
– when you withdraw money from super under age 60.

When contributions are made

A contributions tax of up to 15% applies to:
– employer contributions e.g. superannuation guarantee, and
– after-tax member contributions where a tax deduction is claimed.
The contribution is reduced by any death and disability insurance premiums paid through your super before the tax is
applied. Contributions tax is deducted quarterly and when you close your account.
If your income and certain contributions exceed $250,000 in a financial year, you will be taxed another 15% on the
lesser of the excess over $250,000 and the contributions.
If you make after-tax member contributions and do not claim a tax deduction, or a spouse makes a contribution to
your super, contributions tax will not be deducted.
If you exceed your contributions caps, you may have to pay extra tax on the excess amount. The tax treatment of excess
contributions depends on whether the contributions are concessional (before-tax) contributions or non-concessional
(after-tax) contributions.
Another tax (called the no-TFN tax) of 32% applies to employer contributions if you do not give us your tax file number
(TFN). There is no reduction to this taxable amount for insurance premiums. This tax is calculated and deducted at the
earlier of 30 June each year and when you leave AMP Flexible Super. The no-TFN tax may be offset if the TFN is supplied
within four financial years from the start of the financial year when the contribution is made. Any refund will be added
to your super benefit and will be subject to the usual cashing and taxing rules.

When you transfer money from another fund

Generally, transfers from taxed sources aren't taxed when added to your super.
The taxable component that you transfer from an untaxed super source will be taxed up to 15%.

While your money is invested

A maximum of up to 15% tax is applied to the investment earnings of your super account. Investment returns earned
by your retirement account will be tax-free.
Capital gains on some assets within a super fund that are held for at least 12 months are taxed at an effective rate of
up to 10%.
This tax is deducted before we declare investment returns.

Super benefit components

A super benefit is made up of two components for tax purposes – taxable and tax-free – and each component has its
own taxation treatment. Lump sum tax on withdrawals from your retirement account depends on the components.
We withhold any PAYG amounts payable for income payments and we also withhold any PAYG amounts from lump
sum withdrawals.

41
 Tax advantages for retirement accounts
If you are aged 60 or over, all income payments and withdrawals are tax-free.
Currently, the tax laws can give you some advantages for payments from a Retirement account compared to other
forms of investment. These advantages include:

No lump sum tax on rollovers
under $1.6 million in total
When you roll your superannuation benefit into your Retirement account, you won’t have to pay
any lump sum tax on the rollover amount. This means that from the start, you will have more of
your money working for you and your future.
If you have an element untaxed of the taxable component, we deduct 15% contributions tax at the
time you rollover this component.
There is a limit on the total amount of superannuation that you can transfer to the retirement
pension phase. This is known as the pension transfer balance cap and is $1.6 million (indexed) as
at 1 July 2017. The amount that you transfer into your allocated pension (including beneficiary
allocated pensions, but excluding a transition to retirement allocated pension) will count towards
this pension cap. Find more information on the current cap rules at www.ato.gov.au and the Tax
and social security section of this document.

No tax on investment earnings Investment returns earned by your retirement account will be tax-free while kept in your retirement
except for transition to account, unless you're invested in a transition to retirement account where earnings are taxed at
retirement accounts 15%.

Part of each regular income Retirement account:

payment may be returned
tax-free
If you are aged 60 or over, all your income payments are tax-free.
Beneficiary retirement account:
If you are age 60 or over, or you are under age 60 and the deceased member was over age 60, all
your pension payments are tax-free.
If you are under age 60, and the deceased member was under age 60, a part of each regular pension
payment you receive from your allocated pension may be tax-free. The balance of each payment is
taxable in your hands.

A 15% tax offset may apply Retirement account:

If you are aged 60 or over all your income payments are tax-free. If you are aged under 60 and your
income is taxable, you may also be eligible for a 15% tax offset (rebate) on the taxable portion of
the income payments from your Retirement account. This offset generally applies to income recipients
aged between preservation age and 59 and will further reduce the tax payable on your income
payments. It may also apply if the income is paid as a result of the death of another person or your
disability.
Beneficiary retirement account:
If you are age 60 or over, or the deceased member was over age 60, all your pension payments are
tax-free, therefore no offset applies.
If you are under age 60, and the deceased member was under age 60, and your pension is taxable,
you will be eligible for a 15% tax offset (rebate) on the taxed element of the taxable component of
the pension payments from your allocated pension.

Senior and Pensioner’s tax There is a special tax offset (rebate) which may be available to certain individuals who have taxable
offset income below a certain limit. This offset is not needed in respect of your AMP Flexible Super income
stream payments if you are aged over 60 because these payments will be completely tax-free.
However, certain recipients of Department of Veterans’ Affairs payments may be eligible for this
offset earlier than aged 60. Being eligible for this offset may assist with your tax liability on taxed
pension payments.
How PAYG withholding tax If you are age 60 or over, all income payments are tax-free. For income payments subject to PAYG
affects your income payments tax, we withhold any PAYG tax payable from each income payment as required by law. We also
withhold any PAYG tax from permitted lump sum withdrawals from your account.
Tax on withdrawal of a lump If you are age 60 or over, all lump sum withdrawals are tax-free. A superannuation benefit is made
sum from a Retirement up of two components – taxable and tax-free – and each component has its own taxation treatment.
account The taxation of a lump sum withdrawn from your Retirement account is determined by the
components in your withdrawal.

42
When you withdraw money from super
No lump sum tax for 60 and over
All lump-sum and pension benefits received by you on or after age 60 are tax-free.

Lump sum tax rates for under 60s

If you are under age 60 and withdraw your money from your retirement or super account, then generally you are subject
to lump-sum tax based on the components of your withdrawal benefit (see table below).

Component Maximum tax rate

Tax-free component Completely tax-free

Taxable component (ie taxed element):
Under preservation age(i) 20%(ii)

Preservation age to age 59 First $200,000(iii) 0%

(iii)
Amounts over $200,000 15%(ii)

Age 60 or over Completely tax-free

(i) For your preservation age see the when you can access your super section in this fact sheet.
(ii) Plus Medicare levy.
(iii) You are only allowed one low rate cap amount regardless of how many funds you are invested in and whether they are taxed
or untaxed. The low rate cap amount may be reduced by previous lump sum withdrawals of low rate amounts. The low rate
cap amount is indexed annually in accordance with average weekly ordinary time earnings.
This list is not exhaustive. For more details, contact your financial adviser.
If you transfer the money directly to another super fund, or retirement account, you won't need to pay any lump-sum
tax.

Super lump sum – less than $200

A member who withdraws their entire super as a lump sum will receive it tax-free provided the following criteria are
met:
– you've terminated employment with your sponsoring employer and the entire amount of your preserved benefit
at the time of termination is less than $200, or
– you're a lost member who is found and the entire amount of your benefit in the fund when released is less than
$200 and results in the closure of your account.

Lump sum death benefits

Generally, lump sum death benefits are tax-free where the benefit is paid to a dependant under tax law.
The taxable component of lump sum death benefits paid to a non-dependant under tax law will incur 15% tax on the
taxed element plus Medicare levy and 30% tax on the untaxed element plus Medicare levy.
Non-dependants of defence and police force personnel killed in the line of duty are defined as tax dependants.

Lump sum disability benefits

Disablement benefits are subject to tax but usually receive favourable tax treatment if specific requirements are met.
Your financial adviser can provide more information.

Terminal medical condition

Lump sum benefits are totally tax-free once certification requirements are met.

43
 Temporary salary continuance/temporary incapacity benefits
A member who receives temporary salary continuance/temporary incapacity payments has to pay tax at their personal
marginal tax rate, with no offset.

How do you claim a tax deduction for your member contributions?

To claim a tax deduction for your member contributions you'll need to complete a notice of intent to claim or vary a
deduction for personal super contributions form, specifying the amount of contributions that you intend to claim as
a deduction and return it to us before each of the deadlines specified below. We'll then acknowledge that we've received
this form from you.
Around the end of July each year, we send a notice of intent to claim or vary a deduction for personal super contributions
form to you if you're:
– a new member who has made member contributions into your AMP Flexible Super account in the previous financial
year, or
– an existing member who has made member contributions into your AMP Flexible Super account in the previous
financial year and advised us of your intention to claim a tax deduction in the prior year.
If you don't receive a form in the mail, log into your My AMP account and check your statements and correspondence
or call us and ask for a form.
To be valid, your notice of intent to claim or vary a deduction for personal super contributions form must be lodged
with us before the earliest of the following dates:
– the day that you lodged your income tax return for the year(s) for which you're claiming a tax deduction, or the
end of the income year after the year for which you're claiming a tax deduction, whichever is the earlier, and
– the date you ceased to have your contributions in your accumulation account, and
– the date part or all of your contribution was used to start an income stream.
Once we receive a valid notice of intent to claim or vary a deduction for personal super contribution form, we'll send
you a superannuation fund acknowledgement. You should keep this for your tax records.

Release authority from the Australian Taxation Office (ATO)

A release authority is a document the ATO gives to you or to us when one of the following applies:
– you've elected to release an amount of your excess concessional contributions
– you've elected to release an amount of your excess non-concessional contributions
– you must pay excess concessional contributions tax (applies to excess concessional contributions made before 1
July 2013)
– you must pay excess non-concessional contributions tax
– you must pay the additional 15% tax as a high income earner (called Divisions 293 tax). Note, special rules apply
to defined benefits that restrict the release of Division 293 tax.
When we receive a valid release authority we're authorised to release an amount from your plan stated in the release
authority.

Social security
Centrelink may count your super under the means test.
As the rules are complex, you should seek the advice of your financial adviser, the Financial Information Service provided
by Centrelink, or the Department of Veterans’ Affairs.

44
Collection of Tax File Numbers
We're required to tell you the following details before you provide your TFN for your super products.
Under the Superannuation Industry (Supervision) Act 1993, the trustee is authorised to collect your TFN, which will
only be used for lawful purposes.
These purposes may change in the future as a result of legislative change. The trustee may disclose your TFN to another
super provider when your benefits are being transferred, unless you request the trustee in writing that your TFN not
be disclosed to any other super provider.
It's not an offence not to quote your TFN. However, giving your TFN to the fund will have the following advantages
(which may not otherwise apply):
– The fund will be able to accept all types of contributions to your account(s).
– The tax on contributions to your super account/s will not increase.
– Other than the tax that may ordinarily apply, no additional tax will be deducted when you start drawing down
your super benefits, and
– It will make it much easier to trace different super accounts in your name so that you receive all your super benefits
when you retire.
If you don't provide your TFN you may also be subject to additional tax. Speak to your financial adviser for more
information.

45
 Section : ₆
Starting your
retirement
In this section you’ll read about:

Starting your retirement account

How to open a retirement account and what we'll send you.

Knowing your income limits

Find out what your income limits are and how easy it is to calculate them,
as well as information on withdrawing lump sums.

Pension refresh
You can keep topping up your retirement account with our pension refresh
facility.

46
Starting your retirement account
A pension is a simple and tax-effective way to convert your super savings into a regular income.
You can only open your retirement account with a single rollover as legally you cannot add money to an existing
retirement account.
If you have several super accounts you'd like to consolidate, or if you want to make extra contributions before starting
your retirement account, you can do this through your super account.
Tax law places a cap on the total amount of superannuation that you can transfer into pension accounts. This is known
as the pension transfer balance cap and is $1.6 million as at 1 July 2017. The cap is indexed and may increase in the
future. The amount that you transfer into your retirement account (including a beneficiary retirement account but
excluding a transition to retirement account) will count towards this pension cap.
To avoid any penalty from the ATO you should only transfer up to the cap across all your pension accounts. Any super
monies in excess of the cap can be rolled back and retained in your super account where earnings will be taxed at 15%,
or alternatively taken out of super completely.

Important: Before consolidating, you need to consider how your existing super accounts compare to AMP Flexible
Super, whether any exit fees apply and what effect consolidating will have on any insurance cover. If you're unsure,
speak with your financial adviser or contact us.

If you don’t have an active super account, we can activate an AMP Flexible Super account for you to bring your super
together before starting a retirement account.

What account can I use?

Type of account Suitable for?

Super account and retirement account under the
transition to retirement rules
Retirement account
– If you're between your preservation age and 64, and you haven't retired.
– If you're 65 or older
– If you're not retired but you ceased employment when 60 or over
– If you've reached your preservation age and retired.

About your new retirement account

For your new retirement account you'll receive:
– a new retirement account member number
– confirmation of your income payments
– a statement detailing transactions on your super account, and
– a schedule showing a new amount for social security purposes.

AMP Retirement Choice and My Retirement Payment

If you decide to invest 100% into the AMP Retirement Choice investment option and the select a target age, My
Retirement Payment will automatically calculate the amount of your pension payments for you using your age, your
account balance and other factors that aim to pay you regular and consistent pension payments until your specified
target age1.
If you select:
– My Retirement Payment, we’ll pay your calculated pension payment directly into your nominated bank account
based on the frequency you select. You can change the frequency of your pension payments at any time.
– Alternatively, you specify an amount you would like to receive and the frequency of your pension payments. These
can be changed at any time, this does not require My Retirement Payment.

1 You can nominate a specific target age. However, the maximum target age is 100yrs.

47
 When will your pension payment be calculated?
We’ll calculate your pension payment amount for AMP Retirement Choice investment option and My Retirement
Payment when:
– you commence your allocated pension
– you submit a change of pension payment details by selecting AMP Retirement Choice investment option and My
Retirement Payment on an existing allocated pension and
– on 1 July each year.
Regardless of the frequency of your pension payments, the annual pension payment amount calculated will generally
remain unchanged until the next annual calculation date of 1 July.
In some circumstances we may need to recalculate your My Retirement Payment part way through the year as a result
of unexpected market movements, lump sum withdrawals or other factors, which may have changed your account
balance, to ensure you receive an income until your specified target age1.
Updates to the My Retirement Payment calculation
To meet the aim of My Retirement Payment we’ll regularly review and refine the calculation, factoring in both the
superannuation and economic environment. While we won’t notify you of these ongoing refinements we won’t change
the overall aim without prior notice.
Your investment options
If you select My Retirement Payment, we’ll manage all your investment instructions on your behalf.
You will be invested in the AMP Retirement Choice fund2. We’ll set your target age to provide a year’s worth of pension
payments.
You cannot be invested in any other AMP Flexible Super investment option when using My Retirement Payment and
the AMP Retirement Choice investment option.

What else do you need to know?

The risks that apply to investing in an allocated pension, where you select your investment options, also apply to
accounts with My Retirement Payment. There’s no fee for using My Retirement Payment, nor any penalty for removing
the option from your account; however, you may want to consider the following:
Unexpected inflation risk
The calculation used by My Retirement Payment allows for expected inflation. Should actual inflation deviate from
expectations, income may fail to keep up with inflation (or may increase faster than inflation). We review inflation
assumptions throughout the year.
Income volatility risk
We aim to provide a regular and consistent income year to year. However, due to fluctuations in investment returns,
income may become volatile over time and may therefore be less suitable if you require consistent income year to year
from your pension.
Long-term inflation and long-term investment return risk
Long-term inflation and long-term investment return assumptions are used to calculate My Retirement Payment
and provide a specified amount. These assumptions may be updated from time to time. As assumptions change, the
next calculated income amount may change in response.
Pension ceases at target age
My Retirement Payment aims to provide an income lasting to your specified target age1. At your specified target age1,
your account value will reach zero and members will no longer receive an income from this account. The effect of this
may vary depending on your personal circumstances, the level of income and any other sources of income that you
may have.
For more information about the kinds of risks associated with investing in AMP Flexible Super, refer to the managing
your risks section of the investing and your options fact sheet.

1 You can nominate a specific target age. However, the maximum target age is 100yrs.
2 The AMP Retirement Choice fund is a managed investment scheme managed by AMP Capital Funds Management Limited (ABN
15 159 557 721, AFSL 426455.)

48
Knowing your income limits
You can choose the amount you receive each financial year as long as it's at least the minimum limit set by the
government. You can change the amount at any time, although we may adjust your income payments if they're below
your minimum limit.

Please note: If we receive your request within five business days before 30 June, to:
– open a retirement account
– make an additional income payment or withdrawal, or
– adjust your income payment arrangements,
your request may not be processed until after 1 July. If this occurs the transaction will count in the financial year it
was processed in.

The minimum annual income amount is based on your account balance and your age at the date you invest, then
recalculated every 1 July. This applies for the rest of the financial year.
If you invest under the transition to retirement rules (refer to the making the transition to retirement section), there's
a maximum annual limit, currently set at 10% of your account balance. This is recalculated each year based on your
account balance on 1 July.

Flexible payment options

After you open a retirement account, you can choose to receive your income fortnightly, monthly, quarterly or annually.
You can choose the amount of the income payments you receive, as long as the total amounts are within the limits.

Pension factors
Your minimum annual income payment is calculated according to the following formula and table and based on your
account balance at the date you start your retirement account, then recalculated on 1 July each year:

Account
X
Pension
=
Minimum annual How to calculate your annual income
balance factor income payment payment
Your age at date of calculation Pension factor (%)
Example
Under 65 4 Irene is 68 years old and invests $150,000 in a retirement
account on 1 October. What income can Irene receive in the
65-74 5 rest of that financial year?
75-79 6 First, we calculate the minimum annual income payment
for a full financial year.
80-84 7
$150,000 x 5% = $7,500
85-89 9
90-94 11 Irene invested on 1 October so the number of days remaining
in that financial year is: 273.
95 and over 14 This is approximately 75% (273/365).

Where you start your retirement account part way through the 75% of $7,500 = $5,610
year, your minimum annual income payment is calculated pro-rata
to reflect the remaining days in the financial year. When you start (All figures have been rounded to the nearest $10.)
a transition to retirement pension during the financial year, the
maximum amount is not pro-rated.

49
 How we make sure you receive at least the minimum annual income
We monitor your payments to make sure they're above the minimum limits. We'll let you know if we increase your
income.
If you open a retirement account in June, you don’t need to take any income payment until the new financial year.

Withdrawing lump sums

You can withdraw some, or all, of your investment as a lump sum at any time. When making a full or partial withdrawal,
you may be required by law to take some of the withdrawal as an income payment.
Note, if you're invested in a retirement account under the transition to retirement rules you generally cannot make
lump sum withdrawals.
We withhold tax from withdrawals from your account as required by the tax laws.

Pension Refresh Facility

The Pension Refresh Facility lets you move your money between your AMP Flexible Super account and retirement
accounts with ease.
Superannuation law prohibits adding more money to an existing retirement account. The Pension Refresh Facility
consolidates your existing super and retirement money to start a new retirement account. It's generally used as part
of a pension refresh strategy or for one final consolidation of funds, before retirement. To use this facility, you must
have reached your preservation age.
You can use this facility by completing the pension refresh form available from your financial adviser or
www.amp.com.au/forms.
The unit price you receive for pension refreshes will be the unit price available on the day we process your request.
It is recommended you seek financial advice, as there are likely to be financial, taxation and social security implications.

How the facility works

When you instruct us to refresh your retirement account, we'll:
1. Transfer your current retirement account balance and consolidate into your AMP Flexible Super account.
2. Transfer the amount you request to a new AMP Flexible Super – Retirement account. In most cases, you'll need to
leave some money in your super account. You should consider leaving more in your super account if you have
insurance cover.
Where possible, we will use the same effective date for the above transfers. Where we are unable to use the same
effective date, the funds transferred from your current retirement account into your super account will be invested
into the Super Easy Cash option until they are transferred to your new retirement account.

Processing your request

If you submit a request for us to refresh your retirement account, where an income payment is due within five business
days of us processing the request, we usually delay processing until after that next payment. We may delay the processing
if we need to ensure that any rebates or deductions required will occur on your account first.
Where you request a pension refresh within five business days before 30 June, your new retirement account will be
opened after 1 July.
Processing your request may take a number of days, especially where your request requires multiple transactions eg
re-contribution, claiming on your personal contributions, switch or where we require more information.

Commuting your current Retirement account

On commuting your current retirement account, you'll receive for this account:
– a statement detailing transactions to the date of transfer, and
– a PAYG Payment Summary (if applicable).
We're required by law to pay any minimum income payments due to you for the current financial year. This will be paid
in line with your usual payment instructions.

50
How your money is invested
The investment asset allocation in your new retirement account will use the same weighting as your old retirement
account. If your retirement account has auto-rebalancing, your nominated investment profile will remain in place.

If you are invested in the Super Easy Term Deposit investment option
If you've invested in a Super Easy Term Deposit investment option and request a pension refresh, you'll have been
deemed to break the term and the interest will be allocated at an adjusted crediting rate. Your money in this investment
option will be invested in Super Easy Cash in your new retirement account.

51
 Section : ₇
Other information
about AMP
Flexible Super
In this section you’ll read about:

Cooling-off rights

Enquiries and complaints

AMP and your privacy

Our relationship with other service providers

Legal arrangements

Leaving your employer

52
Cooling-off rights
If you no longer want your account in AMP Flexible Super, you can return it by contacting us on 131 267. There's a
limited time to do this, being 14 days starting on the earlier of:
– the date you received your welcome letter, or
– five business days after the date of your welcome letter.
You cannot return your account if you've exercised any rights or powers under the terms of the product.

Cooling-off – an employer’s rights

If your employer no longer wants to be part of AMP Flexible Super, they can withdraw by contacting us on 131 267.
The employer has a limited time to do this, being 14 days starting on the earlier of:
– the date the employer received the letter from us welcoming them to the plan, or
– five business days after the date of the letter welcoming the employer to the plan.
The plan cannot be returned if the employer has exercised rights or powers available under the terms of the product.

Refunds
The amount we refund will be the original amount invested less any tax and reasonable administration costs incurred
by the trustee relating to the establishment of and termination of your account. We'll also adjust the amount to allow
for the unit price of any market linked investment options chosen.
We can only pay unrestricted non-preserved amounts direct to the member. All other amounts must be paid to another
complying super fund. We'll need the details of this fund within one month of notifying us of your withdrawal.

Enquiries and Complaints

If you're unhappy about any aspect of your account or our service, please contact AMP Customer Service.
We'll try to resolve your complaint as quickly as possible and we'll keep you informed about our progress.
Where we cannot resolve your complaint within 90 days or if you're unhappy with our decision, you may be able to
lodge a complaint with the Superannuation Complaints Tribunal (SCT). The SCT is an independent body established
by the government to review certain decisions of superannuation trustees. The SCT can only become involved after the
trustee’s efforts at resolving your complaint have failed.

Superannuation Complaints Tribunal

web sct.gov.au
phone 1300 884 114
mail Locked Bag 3060
MELBOURNE VIC 3001

Time limits on making complaints to the SCT

Time limits apply to certain complaints to the SCT, for example in respect of total and permanent disablement claims.
If you have a complaint, you should contact the SCT immediately to find out if a time limit applies.

53
 AMP and your privacy
We may collect personal information directly from you, your employer or your financial adviser.
The main purpose in collecting personal information from you is so that we can establish and manage your account.
If we're not provided with the information necessary to process your application, then we may not be able to process
it.
We may collect personal information if it's required or authorised by law including the Superannuation Industry
(Supervision) Act 1993, the Corporations Act 2001 and the Anti-Money Laundering and Counter-Terrorism Financing
(AML/CTF) Act 2006.
We may use your information for related purposes—for example providing you with ongoing information about
financial services that may be useful for your financial needs through direct marketing. These services may include
investment, retirement, financial planning, banking, credit, life and general insurance products and enhanced customer
services that may be made available by us, other members of the AMP group, or by your financial adviser. Please contact
us if you don't want your personal information used for direct marketing purposes.
We may need to disclose your personal information to other parties, such as:
– to other members of the AMP group
– if you're part of an employer sponsored plan, to the employer sponsor and the financial adviser or broker (if any)
responsible for the plan
– to your financial adviser or broker (if any)
– if you're under age 18, to your parent or guardian
– if you're part of an employer-sponsored plan, to members of the policy committee for the plan (if any)
– to external service suppliers who supply administrative, financial or other services to assist the AMP group in
providing AMP financial services, both here and overseas (a list of countries where these providers are likely to be
located can be accessed via our privacy policy)
– to the Australian Taxation Office (ATO) to conduct searches on the ATO’s lost member register for lost super
– to your spouse or another person who intends to enter into an agreement with you about splitting your super as
part of a marriage separation or a de facto (including same sex) separation (the law prevents us from telling you
if we received one of these requests for information about your account), and
– to anyone you've authorised or if required by law.
If information about your health is collected in relation to this product, then additional restrictions apply. The primary
purpose for obtaining this health information is for the insurer, AMP Life, to assess your application for new or additional
insurance. AMP Life may also use this information for directly related purposes – for example, deciding whether more
information is needed, arranging reinsurance, assessing further applications and processing claims.
Your health information may be disclosed to:
– the financial adviser or broker responsible for the account or employer plan
– if you're under age 18, to your parent or guardian
– your employer (if you're part of an employer sponsored plan), only to the extent necessary to process any claim
you make
– AMP Life (as administrator)
– AMP Life’s reinsurers
– medical practitioners
– any person AMP Life considers necessary to help either assess claims or resolve complaints
– the trustee
– anyone you've authorised, or
– anyone if required by law.
Under the AMP privacy policy you may access personal information about you held by the AMP group. The AMP privacy
policy sets out the AMP group's policies on management of personal information, including information about how
you can access your personal information, seek to have any corrections made on inaccurate, incomplete or out-of-date
information, how you can make a complaint about privacy and information about how AMP deals with such complaints.
The AMP privacy policy can be obtained online at amp.com.au/flexiblesuper or by contacting us on 131 267.

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Information about other individuals
Where you provide any information about one or more other persons, you agree to obtain any such person’s consent
to the disclosure and to inform them:
– of our identity,
– why their information is collected by us and how it will be used and to whom it may be disclosed by us, and
– that they may obtain access to their information from us and how to contact us.

Identification requirements
To protect your money and to comply with legislative requirements (such as the AML/CTF Act 2006) we'll need to
occasionally verify your identity. This means that we may need to obtain identification information when you make a
withdrawal from your account, when we change your account details or when undertaking transactions in relation to
your plan.
We'll need to identify:
– a member prior to allowing the member to access their super (full or partial withdrawal). We'll only process the
withdrawal once all relevant information has been received and your identity has been verified.
– a member and their self-managed super fund (SMSF) before processing a rollover to the SMSF. We'll only process
the rollover once all relevant information has been received and your identity and that of the SMSF has been verified.
– your estate and/or your dependants if you die while you're a member. We'll have to verify the identity of any
person(s), including your estate, before the payment of any death benefit, and
– anyone acting on your behalf, including your nominated representative. If you nominate a representative, we'll
identify the nominated representative before adding them as a signatory to your plan.
You also acknowledge that we may decide to delay or refuse any request or transaction, including suspending a
withdrawal application, if we're concerned that the request or transaction may breach any obligation, or cause us to
commit or participate in an offence under any law, and we'll incur no liability to you if we do so.
In limited circumstances, we may need to re-verify your identity.

Lost members
If you're deemed to be a ‘lost member’, we'll need to advise the ATO that you're lost and we may transfer your benefits
to the ATO.
A ‘lost member’ is a member who is:
– uncontactable
– we've never had an address (either non-electronic or electronic) for the member, or
– we've made one or more attempts to send communications (non-electronic or electronic), which have been
returned unclaimed, and
– no contributions or rollovers have been received in respect of the member within the last 12 months of the
member’s membership of the fund, or
– inactive
– where a member joined the fund as an employer-sponsored member and has been a member of the fund
for longer than two years, and
– no member activity has taken place within the last five years.
You're not a lost member if your address has been confirmed within the last two years or you've indicated that you
wish to be permanently excluded from being a lost member. Please contact us for further information.

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 Relationship between us and other service providers
From time to time, we may engage companies in and outside the AMP group to provide services in relation to AMP
Flexible Super. We may change these service providers without giving you notice.
The companies in the AMP group we use are AMP Life, AMP Capital and AMP Bank. AMP Life, AMP Capital and AMP
Bank have given and not withdrawn their consent to the statements in relation to themselves (including their names)
being included in the PDS and the fact sheets in the form and context in which they appear.
These and other companies in the AMP group may receive information about you. Please refer to the AMP and your
privacy section.

AMP Life
The superannuation policies we currently hold are issued to us by AMP Life Limited ABN 84 079 300 379 AFSL No.
233671 from its No.1 and No.2 Statutory Funds.
Under these policies, AMP Life administers AMP Flexible Super, provides insurance and invests contributions received
from AMP Flexible Super with AMP Capital, AMP Bank or in managed investment schemes outside the AMP group on
behalf of the trustee.

AMP Capital
AMP Capital Investors Limited ABN 59 001 777 591 AFSL No. 232497 is the investment manager appointed by AMP Life
under an investment management agreement with AMP Life and is the responsible entity for many of the managed
investment schemes that AMP Life invests in. It appoints itself and other companies outside the AMP group to be the
investment managers of these schemes. It is a subsidiary of AMP Limited.

AMP Bank
AMP Bank is a direct banking business that manufactures, distributes and services lending products and deposit accounts
both to retail and wholesale customers.
AMP Life, AMP Capital and AMP Bank are subsidiaries of AMP Limited, and are companies related to us.

Family membership
What is a family member?
A Family member is a member of AMP Flexible Super who is in an eligible relationship with an employer sponsored
member (Employee member) of the fund. As a Family member, you can link your account to the Employee member’s
employer plan and so may be entitled to a higher administration fee rebate for Choice investment level investment
options. You are not entitled to access the employer plan’s insurance offering or insurance discounts. But you can apply
for personal insurance in Essential Protection or Super Protection. To be eligible, the Family member must be at least
13 years of age.
Under Family membership there is no limit to the number of family members who can be linked to your employee
account in order to benefit from the administration fee rebate.
Please note - if a Family member is not in the Choice investment level at the time of linking the accounts, they need to
upgrade to the Choice investment level to be eligible for determining an administration fee rebate. If they upgrade, a
higher member fee will apply.

When family membership ceases?

A Family member will be detached from the employer’s plan:
– When the Employee member leaves the plan, including if their account is detached due to the account being inactive.
– If the Family member no longer has an eligible relationship to the member of the employer plan (eg you divorce).
Either you or the Family member must inform us if they no longer have an eligible relationship to you.

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Eligible relationships – family membership
Eligible relationships for Family membership are:
– your spouse, parent, sibling (brother or sister), child, grandparent, grandchild, father or mother-in-law, brother or
sister-in-law, son or daughter-in-law, or
– someone with whom you have an interdependency relationship.
For more information please refer to the what is an interdependency relationship? section in this fact sheet.

How to apply for family membership

To apply for Family membership, an eligible family member must have a personal AMP Flexible Super account. Family
members can open an AMP Flexible Super account online – it’s quick and easy.
Just go to amp.com.au/flexiblesuper/howtoapply.
They can also apply in one of the following ways:
1. Speak to a financial adviser.
2. Download an application form from amp.com.au/flexiblesuper.
3. Call us on 131 267, 8.30am to 7.00pm Sydney time, Monday to Friday.
Once their account is open, to link a Family member's personal Super account to an AMP Flexible Super employer
sponsored member for the purpose of determining an Administration Fee Rebate based on the employer plan size,
please use the Family membership linking form available at amp.com.au/super/forms or by calling us on 131 267 for
a copy of the form.
You and all linked Family members consent to the sharing and disclosure of the account name(s), account number(s)
and account type(s) with each other (and if applicable, each other’s financial advisers). Either you or a linked Family
member can cancel the link between your accounts by contacting us. We may cancel a link if you are no longer eligible
- see the when family membership ceases section in this fact sheet.

Legal arrangements
The trustee
AMP Superannuation Limited is the trustee of the fund and is a wholly-owned subsidiary of AMP Life.
The trustee has been granted a Registrable Superannuation Entity (RSE) licence by APRA. The trustee:
– is responsible for all aspects of the operation of your account
– is responsible for ensuring the fund is properly administered in accordance with the trust deed and policy documents,
and
– ensures that the fund complies with relevant legislation, that all members’ benefits are calculated correctly and
members are kept informed of the operations of the fund.
The trustee has indemnity insurance.

The trust deed

The trust deed establishes the fund. It also contains:
– your rights and obligations relating to AMP super, and
– our rights and obligations as the trustee – eg the right to charge fees, the right to be indemnified, the right to
terminate the fund and our liability limits.
The rights and obligations of a trustee are also governed by laws affecting superannuation and general trust law.
With the consent of AMP Life we may amend the trust deed following changes to the law or to introduce new features.
If there's any inconsistency between the trust deed and the PDS, fact sheets or member benefit schedule (employee
members only), the terms of the trust deed will prevail.
You can phone us on 131 267 to get a copy of the trust deed, or alternatively it can be found online at
amp.com.au/trusteedetails. The trustee’s details section of the website also contains AMP Superannuation Limited’s
policies and disclosure documents.

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 Superannuation policies
We invest all the assets of the fund in group superannuation policies held with AMP Life. By investing in a specific
investment option, you don't receive any entitlement to the assets underlying that investment option. Administration
services and insurance cover are also provided under the relevant policies.
Under these policies, AMP Life can change the fees, insurance arrangements and investment options. If any dispute
arises about your AMP super or there's any inconsistency between the trust deed, policy document and the terms of
the PDS, fact sheets or member benefit schedule (employee members only) then the trust deed and the policy document
will prevail. You can contact us to get a copy of the trust deed or the policy document.

Family Law and your super

If you separate or divorce from your spouse, then your interest in your super may be split. Currently, in all states and
territories (apart from Western Australia), an interest in a super account may also be split if a de facto relationship
(including a same sex relationship) breaks down. Your account can also be flagged as part of a separation or divorce –
this prevents us from making most types of payments. The law sets down how super interests will be valued and split
for these purposes. Splitting or flagging can be achieved by agreement between the separating or divorcing couple or
by a court order.
If your AMP Flexible Super account is split, then your spouse will not automatically have a AMP Flexible Super account
of their own. Your spouse can apply to have a personal super account with AMP, transfer the benefit to another super
fund or take the benefit in cash if they satisfy a condition of release.
If your interest is split, then your spouse’s interest may be transferred to the AMP Eligible Rollover Fund. As the laws
regarding splitting your account on separation are complex, we recommend that you seek legal advice.

Leaving your employer

When you stop working for an AMP Flexible Super employer, you'll no longer be an employee member but your account
will continue as a personal member. This lets you continue your investment strategy and any automatic or personal
insurance arrangements you may have, without interruption. Subject to the terms of your employment, you're usually
able to request your subsequent employer to pay contributions into your account using the Choice of Fund form.
We don’t charge a fee when you move from being an employee member to a personal member and your account
continues. This will ensure that your account keeps the same value when it becomes a personal super account.
To the extent your account balance as an employee member was invested in the AMP MySuper Balanced investment
option, it will remain invested in that investment option.
Note: Any administration fee rebates on amounts invested in the Choice investment options may change or cease to
apply to your account.
If you have Employee Flexible Protection insurance, the cost of your cover may be higher (in some cases considerably
higher) when you move from being an employee member to a personal member.
If you have Employee Essential Protection insurance, there is no change to the cost of your cover when you move to
being a personal member.
All premiums payable once you're a personal member will be deducted from your account effective from the start date
of your personal plan.
You may decide to transfer other superannuation account balances you have into this one or ask your new employer
to make contributions to your account. This can have a number of advantages, for example:
– you'll receive one single statement
– it will be easier for you to keep track of how your retirement savings are growing.
Consolidating your superannuation is easy. Complete the consolidation section during your application or via My AMP
at any time. Go to amp.com.au/consolidate to use our online consolidation form.
Before consolidating, you need to consider how your existing superannuation accounts compare to AMP Flexible Super,
and what effect consolidating will have on any insurance cover and whether any exit fees apply. If you're unsure, speak
with your financial adviser or contact AMP.

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Transfers to the AMP Eligible Rollover Fund
If your account is closed and we cannot locate you, and we need to make a compensation payment to you (eg for a unit
pricing error), we may transfer your partial benefit (ie the compensation payment) to the AMP Eligible Rollover Fund.
The AMP Eligible Rollover Fund is invested in a capital guaranteed life policy issued by AMP Life that ensures your benefit
isn't reduced by negative investment returns. The investment returns for the AMP Eligible Rollover Fund are in the form
of crediting rates. The latest crediting rates for AMP Eligible Rollover Fund are available on amp.com.au.
For any other inquiries, please call AMP Customer Service on 131 267.

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Contact us
phone 131 267
8:30am to 7pm Sydney time
Monday – Friday
web amp.com.au/flexiblesuper
email askamp@amp.com.au
mail Customer Service
AMP Life Limited
24038 9/17

PO Box 300
PARRAMATTA NSW 2124