Retirement solutions

Retirement solutions

Challenger is a specialist manager of contractual return solutions. Based on a strong co-design philosophy, we partner with institutions to design solutions that help to address the needs of their members.

We take a collaborative approach, working with clients to design solutions that address the risks within the late stage of accumulation and the decumulation phase of the savings lifecycle.
Consultation 

Consultation

Taking a partnership approach, we work with our clients to thoroughly understand their vision, internal business requirements and desired member outcomes for retirement.

Depending on the chosen solution, our clients may have full access to Challenger’s support framework, which includes solution development, administration services, digital tools, calculators, adviser education and call centre support.

 

Assessment

Assessment

An important component of our engagement framework is to thoroughly workshop the potential range of design avenues available. This is a significant step as it determines the approach that would best suit your member demographics and deliver an optimal member experience.

 



Solution design

Solution design

Upon the completion of the consultation and assessment phase, we can then design, implement and integrate the solution and support framework that meets your needs.

We recognise that each superannuation fund’s membership and product development goals are unique and require specific solutions. With this in mind, Challenger offers a range of solutions which include:

  • Group Annuity
    Group insurance policy between CLC and super fund. The Group Annuity is an institutional solution that enables a super fund to issue its own longevity guaranteed income stream. Super fund retains direct relationship with members and the group insurance policy is treated as an asset and attributed to the Super Fund’s AUM.

  • White Label Annuity
    The White Label Annuity is a solution that enables a super fund to integrate Challenger’s annuity platform onto its own operating platform in accordance with desired branding. Super fund benefits from full access to Challenger’s administration platform and consolidated reporting.  Challenger Life is the product issuer.

  • Longevity Mandate
    The Longevity Mandate is a decumulation strategy managed by Challenger Life. Assets within the mandate remain in the Super Fund’s custody, and the strategy delivers contractual returns and a longevity guarantee.

  • Longevity Swap
    A longevity risk hedging solution that removes the longevity risk for a dedicated cohort of retirees. The cedent pays an agreed schedule of payments to Challenger Life, in exchange for payments linked to the actual longevity experience of the pool.