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AMP Limited (formerly Australian Mutual Provident Society) is an Australian financial services company that operates in Australia and New Zealand.It offers superannuation and investment products, financial advice and banking services through AMP Banking, including home loans and savings accounts.
AMP Life is a superannuation, retirement investments and life insurance company based in Australia and New Zealand. It currently employs 1,000 people and manages $55 billion in funds for its 1.5 million [ 1 ] customers. [ 2 ]
Superannuation in Australia, or "super", is a savings system for workplace pensions in retirement.It involves money earned by an employee being placed into an investment fund to be made legally available to members upon retirement.
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It was the largest superannuation fund merger in Australian history. [3] On 30 April 2022, the Australia Post Superannuation Scheme (APSS) was merged into the Australian Retirement Trust. [4] In May 2022, Woolworths appointed the Australian Retirement Trust to manage its corporate superannuation services. [5]
As at July 2018, the major retail super funds were: AMP Flexible Super; Bendigo Smart Start Super (Bendigo Bank)Mercer; ING Direct Living Super (ING Australia).In December 2015, ING had AU$1.6 billion in super funds under management, with 34,000 active superannuation accounts in 2014.
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