Lifetime annuities

Lifetime annuities

Challenger lifetime annuities will pay your clients regular income for life, regardless of how long they live, helping to give them peace of mind in retirement.

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.

Important notes: Age Pension benefits described above will not apply to all individuals. Age Pension outcomes depend on an individual (or couple’s) personal circumstances and may change over time. While lifetime income streams may immediately benefit some Age Pension eligible retirees who are assessed under the assets test, in later years, if assessed under the income test, any ongoing Age Pension benefits may be reduced. 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 client’s chosen market-linked indexation payment option. In periods of strong market performance, any Age Pension benefits may reduce to reflect the higher income received. 


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 clients’ chosen market-linked indexation payment options. In periods of strong market performance, any Age Pension benefits of your clients may reduce to reflect the higher income received.