MyAMP App AMP KiwiSaver Scheme projection assumptions
Key information
The retirement projections for the AMP KiwiSaver Scheme (the “Scheme”) give you an idea of what your balance could look like at retirement, and how much that amount equates to as a weekly income from age 65 through to age 90. These amounts are expressed in today’s dollar terms, which means you can compare them to the price of goods and services today without having to factor in how much prices might rise between now and your retirement. Your projection is an estimate only, and incorporates your balance, the level of contributions you make, how old you are, what type of fund you are invested in, and an assumed rate of investment returns. Like the projection contained in your Annual Statement, the key assumptions used to calculate your projection is set by the Government, as explained below. It’s important to know these figures are an estimate only and aren’t guaranteed by us or the Government. They are information only and do not constitute financial advice.
Your My AMP projection allows you to try different scenarios that are not included in your Annual Statement projection (such as changing your retirement age). It is calculated based on your current age and your most recent balance and contributions over the last year (rather than as at 31 March , which is the date used for your Annual Statement projection). For these reasons your My AMP projection will be different to your Annual Statement projection.
In order to calculate your estimated projected amount of savings at retirement and your weekly income until age 90 we have utilised a number of assumptions which are as follows: