The risk that if you voluntarily withdraw during the withdrawal period or die, you may receive back less money than you invested. Note that for half of your withdrawal period (rounded down to a whole year), there is a money back guarantee if you die during that period. During this period, we will pay a death benefit equal to 100% of the amount invested (subject to tax) to your beneficiaries or estate.

If you choose the Flexible Income (Deferred payments) option and you die after the withdrawal period, but before payments commence, you will not receive any payments from the Annuity and no lump sum is payable. If you choose the Enhanced Income (Deferred payments) option and you die before payments commence, you will not receive any payments from the Annuity and no lump sum is payable.

A change in Government policies or laws in the future may require us to make changes to the product or its terms and conditions.

The risk that the purchasing power of your regular payments may reduce over time as a result of inflation. There is an option to link your payments to movements in the CPI which can help reduce this risk

This is the risk that we become unable to meet our commitments to you. However, we are subject to detailed legislative and regulatory requirements designed to ensure that this does not occur.

If you choose the RBA cash linked payment option, your regular monthly payment comprises a fixed-dollar amount plus a variable RBA cash linked amount. If the RBA cash rate reduces, the variable RBA cash linked amount reduces and so your regular payment will reduce (similarly if it increases, your regular payment will increase).

Lifetime annuities

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Guaranteed regular income payable for life

Backed by Challenger - Australia's largest annuity provider

We all want different things from retirement but share a common need: income. Challenger’s lifetime annuity delivers guaranteed regular income payable for life, regardless of how long you live.

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Why consider a lifetime annuity?

A Challenger Lifetime Annuity can help give you confidence to spend in retirement because the payments from your annuity are guaranteed to be payable for your lifetime. Here’s a few reasons to consider it.

Income for life

Receive guaranteed regular payments for the rest of your life, regardless of how long you live.

No fees

There are no product fees or charges payable to Challenger.

Tax free payments

If you’re using Super monies to invest and you’re 60 or over, the income you receive from your annuity is tax free.

Guaranteed death benefit

A guaranteed death benefit is payable for a period based on your life expectancy up to a maximum of 27 years. This means that your beneficiaries will receive a lump sum payment should you not live as long as expected.

Lifetime income for your spouse

If you decide to include your spouse at the time of investment, your spouse will receive the regular income for their lifetime if they outlive you.

Potential boost to Age Pension

Investing in a lifetime income stream may help boost your Age Pension - thanks to Government means testing rules.

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Payment options

Your Lifetime Annuity turns your super or savings into guaranteed regular income payments for life. You can choose from the following options to best match your monthly payments to your needs. If you’re using your super monies to invest, you can also choose to start your payments immediately or at a future date.

Inflation protection

To help keep pace with the cost of living and protect against inflation risk, payments can be fully or partially indexed to CPI.

Changes with market movements

Payments can be linked to changes in investment markets to combine the benefits of regular income for life with exposure to the potential for market growth while still accepting some downside risk.

Changes with RBA movements

You can choose to have payments linked to movements in the RBA cash rate, whether that movement is an increase or decrease.

Fixed payments

This option delivers fixed payments that never change regardless of changes in CPI, RBA cash rate or market movements.

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Risks of investing

All investments carry some risk. We’ve listed the key risks that you should consider when deciding whether lifetime annuity is right for you. More details on these risks can be found in the 'What are the risks of investing?’ section of the PDS.

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Withdrawal risk

Deferral risk

Regulatory risk

Inflation risk

Counterparty risk

Market-linked return risk

RBA cash rate risk

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Next steps

If guaranteed regular income for life is something you would like to include in your retirement portfolio, then here are a few things you might like to do next. We also recommend that you speak to your financial adviser.

Read PDS and consider TMD

Get a quote

Call us on 13 35 66 to get a quote or ask your financial adviser.

Apply

To make it easy, we’ve provided some handy steps and tips for you.

Find out more

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Additional reading

Retiree Asking questions and receiving help

Frequently asked questions

Find answers for questions we commonly get asked about our Lifetime annuity.

Read FAQs

How do we deliver on our promises?

Our annuities offer guaranteed regular income payable for life, so how do we cover our promises made to you?

Useful documents and links

Lifetime Annuity (Liquid Lifetime) PDS

Lifetime Annuity (Liquid Lifetime) Target Market Determination (TMD)

Additional information guide

Our full range of lifetime annuities flyer

View archived TMDs

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All references to guaranteed payments refer to the payments Challenger promises to pay under the relevant policy documents. For Liquid Lifetime (Market-linked payments), only the first year’s monthly income amount is guaranteed. After the first year, monthly payments will move up or down annually adjusting to the changes in your chosen market-linked indexation payment option.

Table of Contents

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Guaranteed regular income payable for life

Backed by Challenger - Australia's largest annuity provider

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Why consider a lifetime annuity?

Income for life

No fees

Tax free payments

Guaranteed death benefit

Lifetime income for your spouse

Potential boost to Age Pension

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Payment options

Inflation protection

Changes with market movements

Changes with RBA movements

Fixed payments

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Risks of investing

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Next steps

Read PDS and consider TMD

Get a quote

Apply

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Additional reading

Frequently asked questions

How do we deliver on our promises?

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Useful documents and links

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Table of Contents

Why consider a lifetime annuity?

Income for life

No fees

Tax free payments

Guaranteed death benefit

Lifetime income for your spouse

Potential boost to Age Pension

Payment options

Inflation protection

Changes with market movements

Changes with RBA movements

Fixed payments

Risks of investing

Read PDS and consider TMD

Get a quote

Apply

Frequently asked questions

How do we deliver on our promises?