A super feature that your future self will thank you for

Imagine what your retirement could look like if you had the comfort of knowing your pension payments will never run out.

AMP Super is launching a new retirement product in 2026 that’s designed to give you an income stream for life. It is an ‘annuity style’ income stream with market linked returns; that is, your income, assessed annually, moves in line with the investment performance over the year.

It also has the assurance of ‘money back’ options and an aged care bonus as well. And you can start benefitting today whilst it reaches back into your AMP super account to switch on the Lifetime feature years before you retire, which works its ‘magic’ (through social security rules) to help you get more potential Age Pension as additional income when you retire.

More information and the details about the AMP Lifetime Pension are coming soon.

No. The Lifetime feature doesn't lock you into choosing AMP's Lifetime Pension. You can decide if the Lifetime Pension product is right for you when the time is right, usually as you approach retirement age.

However, if you do not take out an AMP Lifetime Pension, Centrelink will use your actual super account balance (and not the discounted amount using the deeming rate) when assessing your eligibility under the Asset Test.

By law, when you can start accessing your super 'in full', we must turn the Lifetime feature off in your account. The Lifetime feature is designed to convert into a Lifetime Pension* if you decide to start one in retirement. This means when you can start accessing all of your super, you'll need to tell us if you'd like to start a Lifetime Pension* with some or all of your balance. Otherwise, we will have to turn the feature off and the discounted value used in your asset test for Centrelink disappears. To access your super in full, you need to meet one of certain conditions (called ‘Conditions of Release’).

So, if you're withdrawing your super for any of the following reasons, you should be aware that by doing so, you might be turning off the Lifetime feature in your account- and once its off, it can't be switched back on. See below:

• You've reached age 65, or
• You're withdrawing your super because you're aged 60- 64 and you confirm to us that you've either:
  • permanently retired or
  • ceased an employment arrangement on or after aged 60
• You're withdrawing your super due to a terminal medical condition
• You're withdrawing your super due to permanent incapacity claim

During the time before the Lifetime Pension* is available OR if you aren’t eligible for a Lifetime Pension when you meet a ‘full’ condition of release (outlined above) the feature will simply be turned off in your account. The Lifetime feature will also be turned off if your account is closed.

*Available in 2026

Changing employers won't impact the Lifetime feature, unless you close your account in the AMP Super Fund. You can easily tell your new employer to pay your super into your AMP Super account online via My AMP.

If you’re over age 60 and leave employment, the Lifetime feature will be turned off as at the date you left that employment

You can move your super to another fund at any time but if you close your account, you'll lose the Lifetime feature completely along with the discount the Lifetime feature has been calculating.

The law requires that for you to retain the advantage of the discounted growth rate (and for Centrelink to use the lower amount), you must remain within the same super fund.

It depends on the reason for the partial withdrawal., If you roll part of your account balance to another super fund or into a Transition to Retirement account, the Lifetime feature will continue working in your account for the remaining amount. If you make a partial withdrawal because you've met a full condition of release, you'll lose the Lifetime feature in this account unless you are eligible and you decide to convert to the Lifetime Pension* product.

*available in 2026

When we are notified of a death, the Lifetime feature is turned off in the account. The discount that the Lifetime feature has been calculating can't transfer to your beneficiaries. Having the Lifetime feature on in your account won't impact the amount your beneficiaries receive.

The lifetime feature does not change how your super account works and you are not obligated to use it. The Lifetime feature simply creates an opportunity for you to maximise your age pension benefits in retirement- only if you want to. For this reason, there's no reason to cancel this in your account when its added. The Lifetime feature will automatically turn off in your account when you meet a full condition of release or close your account.

Any money coming in or out of your super account is captured in the calculation for the Lifetime feature provides, so if there is a portion of your account being paid to a former spouse as part of a family law arrangement, the Lifetime feature will adjust to the remaining balance. The discount that has been calculating cannot be transferred to your former spouse’s account.

If you’re a MySuper member, and you want to activate the Lifetime feature, your account’s status will permanently change from a ‘MySuper’ to a ‘Choice’ account. Although MySuper accounts have additional legal protections in relation to fees and other characteristics, your fees, services and any insurance you hold would not change when Lifetime starts. You’ll also remain invested in your AMP MySuper Lifestages option (unless you or we make changes in the future).

A MySuper member is a member who has not made a choice about which investment option in which their super is invested. The Trustee places them, by default, into an AMP MySuper Lifestages option (usually according to their date of birth).

This usually occurs when an employer nominates an employee to become a member of a super fund such as the AMP Super Fund, and they make super contributions for their employee.

MySuper members are defined by the Superannuation Industry (Supervision) Act 1993 (SIS Act) which requires trustees to promote the financial interests of their MySuper members.

The SIS Act ensures all MySuper members receive a product that has common characteristics, such as low fees, a diversified investment option, a minimum level of insurance cover, simple features, and transparent reporting.

Members who are not a MySuper member – that is, they have made a choice about investment options into which their super is invested - are called Choice members. MySuper members and Choice members who invest in an AMP MySuper Lifestages option receive the same fees, investments, insurance, and other product features.

New members* joining AMP Super after May 2025 will have the Lifetime feature added to their account automatically when they make an investment choice or they can add the feature to their account if not automatically added.

For existing* AMP Super members as at May 2025 who have made investment choices in the past (that is, Choice members), we will automatically add the feature to your account.

Existing members* who have not had it automatically added (MySuper members) can easily add this to their account by becoming a Choice member through My AMP or by calling us on 131 267.

We'll write to you to confirm if it's been added automatically or how to opt in if it wasn’t.

*Subject to eligibility.

The Lifetime feature is suitable for anyone who is in the accumulation phase of their working life in AMP Super.

To be eligible though, you meet the following criteria: 

• You were born after 19 May 1967,

• You have never met a full condition of release,in this account

• Your account is not in a Defined Benefit arrangement

• Your account is not a Transition to Retirement account

For existing AMP Super members who have made investment choices in the past, we will automatically add the feature to your account. Members who haven't made any investment choices before can easily add this to their account through My AMP or by calling us on 131 267. We'll write to you to confirm if it's been added automatically or if you'll need to opt in. You can check anytime on your annual statement and in your My AMP account online.

Add feature in My AMP
Looking to add the Lifetime feature? It’s easy. Login to My AMP and click on ‘Add Lifetime feature’ in the ‘Manage your super’ menu.