Financial support
Life changes and challenges
Significant life moments, whether heart-warming or heart-breaking, can lead you to rethink your finances or seek extra support.
Relationships
Whether you’re starting a new relationship or going through a break-up, there’s a lot to consider, including your finances. We’re here to help with information and support.
Getting married or moving in together
When planning your future together, it can be helpful to talk about your financial goals and how you’ll manage your finances. Consider the benefits and risks to merging finances before deciding if you want joint accounts or separate ones.
If you’re looking to buy a home together, there are options available, such as separate offset accounts.
Remember to update your details on accounts. You can also update the nominated beneficiary on your super if you want.
Separation or divorce
Family break-ups, separation and divorce are some of life’s most emotional and stressful experiences. It can affect your self-identify, emotional and physical health, living arrangements and finances. While working through these changes can be challenging, support is available. Here are some important things to consider, and practical ways we can help.
Steps to take
- Get professional advice and help
Before making any big decisions, seek legal advice to understand your options more confidently. You can contact a community legal centre or the Legal Aid service in your state or territory for free legal advice. - Protect your accounts
When going through a divorce or separation, you may want to protect your accounts and privacy by changing the password or PIN on your account(s) and updating your contact details if they have changed. - Review joint banking or investment accounts
Before closing any accounts, make sure direct debits are taken care of, and there is a plan in place for making home-related payments such as mortgage and utilities. - Review your finances
Separating can mean that your income changes considerably. Work out your income and expenses using our budget planner, and reach out early if you’re finding it hard to keep up with loan repayments or bills. - Stay connected
Your trusted support network can help you navigate this time in your life. Connect with family and friends, or expand your social network through local clubs or online support groups. You can also seek support from professionals if you need it.
How we can help
- Change your details
Contact us if you need help with getting previous bank statements and communications. You can also update your contact details online through My AMP or via our form. - Consider 'all to sign'
If it’s difficult communicating with your ex-partner or there’s a dispute about the account, you can ask us to change the signing authority on your bank account so that funds can’t be withdrawn without both account holders’ consent. - Review your super
Super may be an asset which gets divided during a divorce or separation. To learn more about super splitting, read our article.
Make sure the beneficiary nominations on your super accounts are up to date. You can update it through My AMP or call us on 131 267. - Open your own bank account
You may want to start establishing your financial independence by opening your own account(s), if you don’t already have one. We offer a range of accounts, including the AMP Access Account which has no monthly fees or minimum balance. - Financial advice
You may want to consult a financial adviser, who can help you make informed decisions about your assets and liabilities. Find out more about advice options.
Further resources, services and support
| Name | Details | Website | Phone | |||
|---|---|---|---|---|---|---|
| Mensline Australia | A free telephone and online counselling service offering support for men anywhere, anytime. Qualified counsellors specialise in family and relationship issues, including relationship breakdown, separation and divorce, parenting, family violence, and emotional wellbeing. | mensline.org.au | 1300 78 99 78 Available 24/7 |
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| QLife | QLife provides anonymous, LGBTIQ+ peer support and referral for people in Australia wanting to talk about a range of issues including sexuality, identity, gender, bodies, feelings or relationships. Our services are for LGBTIQ+ individuals, their friends and families, and health professionals. | qlife.org.au | 1800 184 527 3pm – midnight, 7 days |
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| Relationships Australia |
Relationships Australia is a leading provider of relationship support services for individuals, families and communities. |
relationships.org.au | 1300 364 277 | |||
| Divorce & separation financial checklist |
ASIC’s Moneysmart website has a checklist with practical steps to organise and separate your finances after a break-up. |
moneysmart.gov.au | ||||
| Family Relationship Advice Line |
A national telephone service that helps families affected by relationship or separation issues, including information on parenting arrangements after separation. |
familyrelationships.gov.au | 1800 050 321 8am - 8pm, Monday to Friday 10am - 4pm, Saturday |
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| Services Australia (Centrelink) |
Information about how separating affects your payments. Help with child support arrangements between separated parents. | servicesaustralia.gov.au/separated-parents |
Becoming a carer or parent
Becoming a carer or parent is a significant transition - it can be rewarding, but also brings new responsibilities. The person you’re caring for might need help with banking, paying bills and managing money. Your own finances can also be affected. As a parent or carer, there is often less time available for paid work, which can reduce your income. There may be additional expenses to consider too, so it can be helpful to review your budget. We’re here to support you along the way.
Steps to take
- Look after yourself
Caring for others can be mentally and physically draining, and overwhelming at times. It’s important to take time for yourself, connect with your support network and arrange breaks or respite. - Seek support
There's practical and emotional support available for parents and carers, such as the Australian Parenting website (raisingchildren.net.au) and the Carer Gateway. - Power of Attorney
You can act on behalf of the person you’re caring for if they have appointed you as a Power of Attorney (POA).
How we can help
- Authority to Act
If you’re not named as Power of Attorney, but the person you’re caring for wants you to help them speak to us by phone or act on their behalf, they can fill in a Third Party Access form. - Budgeting tools
We have tools and calculators to help you assess your financial situation. - Referral for financial advice
You may be thinking about adding or increasing insurance on your super, or you might have concerns about super contributions because you’re earning less. We can refer you to an independent financial adviser to discuss your situation. - Financial stress or hardship
If your circumstances are making it difficult for you to keep up with loan repayments or pay bills, get in touch as soon as you can to find out how we can support you.
Further resources, services and support
| Name | Details | Website | Phone | |||
|---|---|---|---|---|---|---|
| COPE (Centre of Perinatal Excellence) |
Providing support for the emotional challenges of becoming a parent. |
cope.org.au | 1 300 740 398 9am - 5pm (AEST), Monday to Friday |
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| PANDA (Perinatal Anxiety & Depression Australia) |
PANDA supports the mental health of parents and families during pregnancy and in their first year of parenthood. |
panda.org.au | 1300 726 306 9am - 7.30pm, Monday to Friday 9am - 4pm, Saturdays |
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| Kids Help Line |
Free confidential and private counselling, mental health and wellbeing information and referrals for young people aged 5 to 25 years. Call or chat online. |
kidshelpline.com.au | 1800 551 800 Available 24/7 |
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| ReachOut |
A national online mental health organisation for young people and their parents. Practical support, tools and tips help young people get through anything from everyday issues to tough times. |
au.reachout.com | 13 11 14 Available 24/7 |
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| Services Australia (Centrelink) |
Payments and services to help with the cost of raising a child. Information about child care and child support. |
servicesaustralia.gov.au/raising-kids | ||||
| Carer Gateway |
Emotional and practical support and services for carers – including counselling, skills coaching and respite. |
carergateway.gov.au | 1800 422 737 | |||
| Services Australia (Centrelink) |
Payments, allowances and support for carers. |
servicesaustralia.gov.au/getting-support-if-youre-caring-for-someone |
Grief and loss
Losing a loved one is one of life’s most heart-breaking moments. We’re here to help during this difficult time. Our contact centre will assist you with any initial enquiries and will provide information about how to officially notify us about a loss and settling the estate. Learn more about deceased estates.
If your loved one had insurance through AMP super, we can support you through the claims process to make things as easy as possible for you.
Confidential support for grief and loss is available from GriefLine by calling 1300 845 745.
Estate planning
Understand how to protect yourself if something happens to you and you can’t make your own decisions, or distribute your assets if you pass away. Learn more about estate planning.
If you haven’t made your wishes known, or formally documented what these are, it’s possible a dispute could arise after you pass away. Read our tips for avoiding family disputes over your will.
Job loss or redundancy
After losing a job or being made redundant, many people experience a great sense of loss, because work is often a big part of our daily routine and even our sense of identity. Suddenly finding yourself without income can also be stressful, especially when bills and expenses continue to roll in. While this can be a difficult time, we’re here to help with suggestions and support.
Steps to take
- Create a budget
Estimate how long you’ll be out of work (e.g. up to 6 months). Check if you have enough money to cover the upcoming costs in that time. If not, consider areas where you can cut back, or maybe taking on short-term work. - Government support
Look into unemployment benefits and other support programs. - Ask for help
There are lots of services that provide everything from emergency relief, if you’re in crisis, to emotional and practical support. - Avoid debt traps
Minimise your use of credit cards and buy now pay later because they will likely make your situation worse in the long run.
How we can help
- Budgeting tools
We have tools and calculators to help you assess your financial situation. - Referral for financial advice
If you have concerns about super contributions because you’re earning less, we can refer you to an independent financial adviser or financial counsellor to discuss your situation. - Home loan payment options
If your home loan has a redraw facility, check your account balances. You may be able to use available funds in redraw to cover loan repayments in the short term. If you have a fixed rate home loan, there could still be options, call us to discuss. - Financial stress or hardship
If your circumstances are making it difficult for you to keep up with loan repayments or pay bills, get in touch as soon as you can to find out how we can support you.
Further resources, services and support
| Name | Details | Website | Phone | |||
|---|---|---|---|---|---|---|
| Workforce Australia |
Workforce Australia is a place Australians can search and apply for jobs or find more information on their pathway to employment. |
workforceaustralia.gov.au | ||||
| Job Access |
Gives people with disability, employers, service providers and the community access to information about services, financial assistance and workplace solutions. |
jobaccess.gov.au | ||||
| Services Australia (Centrelink) |
Services and payments to help you if you’re unemployed. What you can get depends on your circumstances. If you get a redundancy payment, a waiting period may apply before support payments can start. |
servicesaustralia.gov.au/work | ||||
| Financial Information Service |
Services Australia provide a free financial service to help you make decisions about your finances. |
servicesaustralia.gov.au/financial-information-service | 13 23 00 | |||
| Fair Entitlements Guarantee |
If your employer went bankrupt or into liquidation and owed you entitlements, you may get financial help from the Australian Government (Department of Employment & Workplace Relations). |
dewr.gov.au/fair-entitlements-guarantee | ||||
| Fair Work Ombudsman |
If you lost your job and didn’t get your entitlements, the Fair Work Ombudsman may help recover what’s outstanding. |
fairwork.gov.au | 13 13 94 Check what to do before you call. |
Financial support directory
Our financial support directory includes product help, calculators and a list of community and government organisations that can provide relevant support for your situation.
We're here to help
Get in touch with us if you're experiencing financial difficulty. We'll take the time to listen, understand your situation and do our best to help.
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Important information
Products in the AMP Super Fund and the Wealth Personal Superannuation and Pension Fund are issued by N.M. Superannuation Proprietary Limited (N.M. Super) ABN 31 008 428 322 (trustee), which is part of the AMP group (AMP).
All banking products are issued by AMP Bank Limited ABN 15 081 596 009, AFSL and Australian credit licence 234517.
Any advice and information provided is general in nature, hasn’t taken your circumstances into account, and is provided by AWM Services Pty Ltd ABN 15 139 353 496 (AWM Services), which is part of AMP.
Before deciding what’s right for you, it’s important to consider your particular circumstances and read the relevant Product Disclosure Statement, Target Market Determination or Terms and Conditions available from AMP at amp.com.au.
Any application is subject to AMP Bank’s approval. Terms and conditions apply and are available at amp.com.au/bankterms or 13 30 30. Fees and charges may be payable. Full details are available in the Fees and charges guide.
Read our Financial Services Guide available at amp.com.au/fsg for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you.
All information on this website is subject to change without notice.
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