AMP superannuation product receives 5-star rating

AMP (ASX: AMP) has announced that its ‘AMP Flexible Super’ product have been awarded a 5-star rating in the recent CANSTAR ratings for a third year in a row.

A 5-star rating is the highest available and acknowledges the overall quality of AMP’s product, including its low fee structure, member education and benefits, online & phone access, investment options and access via AMP’s extensive financial planning network.

AMP also reported that since June 2012, AMP Flexible Super has grown its customers by 75% and increased assets under management from $5.7 billion to $8.8 billion.

In other superannuation related news, ANZ Bank (ASX: ANZ) today announced that its ANZ Smart Choice Super product had been approved by the Australian Prudential Regulation Authority as ‘MySuper’ compliant. The product “automatically adjusts asset allocations through the customer’s lifetime, while allowing them to view their super online, and has less than half the average Australian super fees”.

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Motley Fool contributor Tim McArthur does not own shares in any of the companies mentioned in this article.

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