General
The Challenger public site and the Challenger Investor login site are collectively referred to as the 'Challenger Websites'. Challenger Limited (ABN 85 106 842 371) and its subsidiaries are collectively referred to as 'Challenger', 'we' 'our' or 'us' unless the context requires otherwise.
Challenger Life is not an authorised deposit-taking institution for the purpose of the Banking Act 1959 (Cth), and its obligations do not represent deposits or liabilities of an authorised deposit-taking institution in the Challenger Group (Challenger ADI) and no Challenger ADI provides a guarantee or otherwise provides assurance in respect of the obligations of Challenger Life. Accordingly, unless specified otherwise, the performance, the repayment of capital and any particular rate of return on your investments are not guaranteed by any Challenger ADI.
Financial advice warning
The information on the Challenger Websites is intended to be general in nature and is not personal financial product advice. Unless expressly stated, the information on the Challenger Websites is provided by the issuer of the applicable financial product. It does not take into account your objectives, financial situation or needs. Before acting on any information, you should consider the appropriateness of the information provided and the nature of the relevant financial product having regard to your objectives, financial situation and needs. In particular, you should seek independent financial, legal and tax advice and read the relevant Target Market Determination ('TMD') and Product Disclosure Statement ('PDS') or other offer document prior to making an investment decision about a financial product (including a decision about whether to acquire or continue to hold a financial product). TMDs and PDSs or offer documents are available free of charge on our website www.challenger.com.au or by contacting your financial adviser or Challenger by calling our Investor Services team on 13 35 66.
If you acquire or hold one of our financial products, we may receive fees and other benefits, which are disclosed in the current PDS or other offer document (where the relevant financial product is open to new investments) or the last available PDS or other offer document (where the relevant financial product is closed to new investments) for the product. We and our employees do not receive any specific remuneration for any general advice provided to you. However, financial advisers may receive fees or commissions if they provide advice to you or arrange for you to invest with us. Challenger and our directors may benefit from fees, commissions and other benefits received by another group company. Please also refer to the Financial Services Guide on the Challenger Websites.
Withdrawal of products
Any financial product issued by a Challenger Group company on Challenger Websites may be withdrawn or varied at any time and without notice. Further, the information on the Challenger Websites relating to any withdrawn financial product may also be withdrawn or varied without notice.
About the guarantee provided by Challenger Life Company Limited
Annuity payments
Any reference to a guaranteed annuity payment in connection with annuities issued by Challenger Life Company Limited ABN 44 072 486 938, AFSL 234670 ('Challenger Life') is a reference to the contractual obligations of Challenger Life under the terms of the applicable annuity to make those payments.
Any reference to a guaranteed annuity payment in connection with any managed investment scheme that invests in annuities issued by Challenger Life is a reference to the contractual obligations of Challenger Life under the terms of the applicable annuity (ies) to make those payments to the fund.
Challenger Life's obligations refer to, and are limited to, the annuities and payment guarantees provided by Challenger Life from its Statutory Fund No. 2. Challenger Life is a life company registered under the Life Insurance Act 1995 (Cth), and is regulated by the Australian Prudential Regulation Authority (APRA). The annuities Challenger Life issues are referrable to its Statutory Fund No. 2 ('Statutory Fund') which it is required to maintain under the Life Insurance Act. The Statutory Fund generally contains a range of investments that may include bank bills, debt investments, convertible notes, shares, geared and ungeared property investments, infrastructure investments and other assets. The underlying investment objectives of the Statutory Fund include:
- achieving consistent returns from investments that ensure that the guaranteed rate of return offered to annuitants is earned; and
- matching the liability cash flows with cash flows receivable from the underlying assets.
Both the Statutory Fund and Challenger Life are subject to prudential supervision by APRA. APRA's prudential standards on capital adequacy require Challenger Life to provide levels of support in relation to its annuity liabilities through capital adequacy standards. These capital adequacy standards are broadly designed to ensure that there are sufficient assets in the Statutory Fund to meet annuity liabilities even in adverse market conditions. Challenger Life generally maintains a surplus above its required statutory minimum.
Superannuation
References to guarantees in respect of Challenger Guaranteed Personal Superannuation and to Challenger Guaranteed Allocated Pension are to the contractual obligations of Challenger Life under the life policies issued to Challenger Retirement and Investment Services Limited ABN 80 115 534 453, AFSL 295642. Challenger Life's ability to meet these obligations is dependent on the assets it holds from time to time to support these obligations and on capital support held in accordance with APRA's capital adequacy standards. Additional information about the guarantees is found in the product disclosure statement for the relevant product.
Other important information
Neither Challenger Limited, nor any other company within the Challenger Limited group guarantees the performance of Challenger Life's obligations described above, nor do they provide any guarantee in respect of the repayment of your capital or the return of your income.
All investments are subject to risks. Significant risks are outlined in the product disclosure statement or other offer document for the applicable product.
Forward looking statements
The material on the Challenger Websites may contain forward looking statements which are not based solely on historical facts but are based on current expectations about future events and results. Words such as 'anticipate', 'believe', 'expect', 'project', 'forecast', 'estimate', 'outlook', 'likely', 'intend', 'should', 'could', 'may', 'target', 'plan', 'will' and other similar expressions typically identify forward looking statements. Such forward looking statements are based on views held only at the date of publication of the material and are not guarantees of future performance or events. These forward looking statements are subject to inherent risks, uncertainties and other factors, many of which are beyond the control of the company or person making the statements. Accordingly, actual results may differ materially from those expressed or implied in such statements.
Challenger does not undertake to update any forward looking statements to reflect events or new information following the publication of forward looking statements on the Challenger Websites. Challenger gives no representation or warranty (express or implied) as to the completeness or reliability of any forward looking statements.
Hypotheticals, illustrations and examples
Hypotheticals, illustrations and examples on the Challenger Websites are provided for illustrative purposes only. They should not be relied on by individuals when they make investment decisions.
Past performance
Past performance information is not a reliable indicator of future performance of that company or product.
Any reference to past performance on the Challenger Websites is intended to be for general illustrative purposes only.
Social media disclaimer
The information contained on Challenger's LinkedIn and Facebook page is provided by Challenger Life Company Limited ABN 44 072 486 938, AFSL 234670, Challenger Retirement and Investment Services Limited ABN 80 115 534 453, AFSL 295642, Fidante Partners Limited ABN 94 002 835 592 AFSL 234668 and Fidante Partners Services Limited ABN 44 119 605 373 AFSL 320505 (together 'Challenger entities').
The posts and comments made by other persons on this page do not necessarily reflect the opinions of any Challenger entity. We do not confirm their accuracy and are not responsible for them. We reserve the right to remove any posts that are offensive, defamatory, fraudulent, abusive, hateful, unlawful, vulgar or use bad language. We reserve the right to block anyone who acts contrary to these standards.
Before acting on any information on the page, you should consider the appropriateness of it having regard to your particular objectives, financial situation and needs, and whether you should seek advice. The information does not constitute advice, an advertisement, an invitation or an offer, to buy or sell any financial product or to engage in any investment activity, or an offer of any financial service.
Our Client Services team is available Monday-Friday from 8am to 6pm EST on 13 35 66.