AMP Superannuation (page 2 of 10)

Not the super fund, but the Savings account advertised at 3% was changed without notice to 2.75%. Not only that, if I want to remove my money now, I am told I can't have the interest unless I leave it until their next payment day because I put the money in half way through the month. Can this be legal? As they only pay the interest on the end of the calendar month I'm keeping it there unless I want to forfeit the interest due it seems.

CUSTOMERS BEWEAR! AMP ARE YOU SERIOUS? Dropping the 3% on the AMP saver down a whole .25% Just last week you were actively promoting on TV 3%. Open my account transfer my balance and literally the next day you reduce the rate by .25% without any notification to the customers.

Rabo is offering 3.05% and citybank is offering $2.9! How can you drop your 3% down soooooo much when other banks have gone up!

What a huge scam!

Bye bye closing ALL my family’s accounts.

I would seriously recommend not using AMP, the customer service was below average and setting up the account was not easy, gaining access to my funds is difficult.

And no branch access either

I am on the phone as we speak. Just wanted some info. On my super fund. It has been 47mins. And am still waiting. This is disgusting. They put the voice recording is still talking.

On the phone for over an hour on multiple occasions to move to direct debit. They then try to still take over $6,000 from our account despite us having it in writing. Only then to be told they can't change it, or return the money it's a different dept and we will have to raise a complaint.
They did the same last year!!! Do not trust this awful company. Run away from these scammers

On the phone for over an hour on multiple occasions to roll funds into a SMSF. Do NOT trust this woeful company. Has taken three weeks and still hasn't been paid. The worst funds company ever. There is an excellent reason that at the time of writing this there are 143 one-star reviews.

I'm in amp eligible rollover fund. I rang them today as my super is capital guaranteed but they charge me 3 different sets of fees to simply invest in cash. I asked if I they could review these excessive fees but was told the fees were non negotiable. It would take me five minutes of my time to earn more interest without fees if i made the deposit myself in a bank. Shame shame shame.

If you are in AMP get out right now. If you are joining - Do not do it!! Worst company on the market.
I am 29, and crunched the numbers and from switching to a low fee provider have saved 400K by the time I retire. Moreover, I checked my account in December, then at the beginning of Feb and my balance is -$4000. They just say that is my investment options (despite being in the low risk) Bunch of Thieves and scammers. GET OUT
There are companies like Host plus, Rest and many others that are half the price in fees and perform twice as well.

I have been dealing with AMP for over 45 years and they were a great company back in the early days. I have lost badly with my superannuation and allocated pension fund so I got out several months ago due to the fees being charged and moved elsewhere, what a disgrace this company has become. Have shares as well and they are not looking good. I think they are just moving deckchairs on the Titanic, GET OUT WHILE YOU CAN.

If u go through their "net rate of return" you will soon discover several fees taken out after NET. Which lower the Net return by several percentage points.
I'm out, annoying to be screwed by this fund. Hope the Royal Commission will rid the industry of these bottom feeding scum.
Move to a Industry Super Fund..

I have been with them for 5 years, the performance was terrible and fees are high. They promised things that I would cost a lot get done.i changed to hostplus and made more money in 4 months than I did in a year with amp

If you have your superannuation in AMP then get it out of there....and quickly! Move it into an Industry Super Fund (eg: Australian Super) as soon as you can! Otherwise AMP will kill any growth with their fees. This means you will have very little left for retirement. Don't wait - do it now! I know from my own experience. They are disappointing to say the least.

I have been with AMp since 2000!
I have had the GFC record Dow and revived ASX I have been taking less from my super to try and make it last while it goes backwards every year due to fees and I have been told mismanagement ! Frankly I could and would have done better with listed stocks and paying tax ! I have closed my super with AMP I rate AMP a triple PPP
*iss Poor performance !
MOVE EVERYONE FAST and save what you have!

hi, can anyone tell me how i can remove the broker from my account. I have never met him and i pay him a fee every year that comes from m super ?

My father moved to AMP about 12 years ago. Since then, a fee of 1k is paid roughly to his advisor every year on top of abour 8k in management fees. Trying to figure out how to remove the advisor as dad is on centrelink so this advisor is earning money for nothing but cannot get a reply on how to remove the advisor. Ridiculous, absolutely horrible. Would leave if we wouldn't lose the life insurance - just trying to figure out how to minimise fees now to salvage what is left after AMP has demolished it.

I was just searching AMP super scams when i saw this - we too were persuaded to take out a super policy in 1987 by the local rep - we were staggered to find that 90% of the first years contributions were taken in fees and the next year wasn't much better, and then they converted it to a whole of life policy - worthless. Fees never disclosed - virtually all our contributions went to the rep John Daniels.

Impossible to contact them - just wait listening to music for ever. Not sure how you are supposed to get a response in any useful timeframe.