Lifetime annuities

Lifetime annuities

Provides a guaranteed income for life, regardless of how long you live or how share markets perform.

Challenger lifetime annuities complement other retirement investments and sources of income, such as your super and the Age Pension. They provide a secure lifetime income which can be used as the foundation of your retirement plan.

About the Challenger Guaranteed Annuity (Liquid Lifetime)

The Challenger Guaranteed Annuity (Liquid Lifetime) is a lifetime annuity that pays a regular income for life in return for a lump sum investment. The regular income we agree to pay you is guaranteed for your lifetime, regardless of how long you live or how investment markets perform – giving you peace of mind in retirement.

You can use your super or personal savings to invest with a minimum investment amount of $10,000. Liquid Lifetime provides:

  • guaranteed monthly payments for life (and your spouse’s life if you choose)
  • payments that start immediately or on a future date you choose
  • payments that keep pace with inflation* or are linked to the RBA cash rate
  • flexibility to withdraw and be paid a lump sum if your circumstances change within the withdrawal period*
  • a known estate value via a guaranteed death benefit*

*You can ask us to change these features in return for different starting payments. But the choice is totally yours.

Frequently asked questions

Challenger lifetime annuities pay a guaranteed death benefit if you die early. The death benefit is up to 100% of the amount you invest and is payable to the beneficiaries you nominate or to your estate. You can ask us to remove this feature in return for higher payments from your annuity, the choice is totally yours.

This gives you certainty and control over your estate planning outcomes. See the relevant Product Disclosure Statement for more information.

While Challenger lifetime annuities are designed to be held for life, there is a long period where you can access a lump sum if your circumstances change. You can ask us to remove this feature in return for higher payments from your annuity, the choice is totally yours. See the Product Disclosure Statement for more information.

You don’t have to invest all of your money into a Challenger lifetime annuity. You can invest only a portion of your super or retirement savings and receive a level of secure, guaranteed income for life. You can invest as little as $10,000.

Inflation measures the change in the cost of living over time. Payments from Challenger annuities can be linked to yearly inflation changes, helping you to continue to afford tomorrow what you can afford today.

A lifetime annuity (Flexible Income option) may immediately increase your Age Pension because only a portion of your investment is counted under the assets test. Speak with your financial adviser before making any financial decisions.

When comparing lifetime annuities to other investments it is important to compare them to similar secure investments and not to shares or other higher risk assets. Lifetime annuities give you income certainty, so they are likely to give you lower returns than higher risk investments where you may receive higher returns but you can also incur losses (for example if there were to be another Global Financial Crisis).


Challenger’s lifetime annuities are a smart defensive asset because they offer competitive payment rates. These payments can be linked to yearly inflation changes or the monthly RBA cash rate, and are guaranteed for your lifetime regardless of how share markets perform.