Challenger lifetime annuities can complement your clients’ other retirement investments and sources of income, such as account-based pensions and the Age Pension. They provide a lifetime income which can be used as the foundation of their retirement plan.
About the Challenger Lifetime Annuity (Liquid Lifetime)
Liquid Lifetime is a lifetime annuity that pays a regular income for life in return for a lump sum investment. It will pay your clients a lifetime income, regardless of how long they live, helping to give them peace of mind in retirement.
Your clients can use their super or personal savings to invest with a minimum investment amount of $10,000. Liquid Lifetime provides them:
- regular monthly payments for life (and their spouse’s life if they choose);
- payments that start immediately, or on a future date your client chooses (if using super savings to invest);
- payments that are fixed, that keep pace with inflation, or are linked to the RBA cash rate or investment markets;
- a long period where your client can access a lump sum if their circumstances change*;
- a long death benefit period where a lump sum is payable to your clients' estate or nominated beneficiaries*; and
- a potential boost to your clients' Age Pension entitlements under Age Pension rules.
* Your clients can ask us to change these features in return for different starting payments.
Liquid Lifetime provides different payment solutions to suit your clients’ financial circumstances and needs. For income certainty, they can choose CPI indexed or fixed payments. Alternatively, they can choose to have payments linked to changes in the RBA cash rate or investment markets.