Immediate payments

Liquid Lifetime (Immediate payments)

Challenger's Liquid Lifetime (Immediate payments) gives you an additional layer of protection in retirement and can act as a safety net giving you guaranteed income for life, regardless of how long you live or how share markets perform.

Choose this option if you want income certainty.

You will receive CPI indexed payments for life that start a month after investment. Alternatively you can ask to have payments fixed (so that they never change), partially linked to CPI, or linked to changes in the RBA cash rate (so that they move up and down whenever the cash rate changes).


  • You can use your super or personal savings to invest.
  • Monthly payments for life (and your spouse’s life if you choose).
  • Payments start a month after investment.
  • Payments keep pace with inflation (CPI indexed payments).
  • Payments are guaranteed regardless of how share markets perform.
  • Monthly payments are tax-free if you use your super to invest.
  • Up to 100% of your investment is repaid to your nominated beneficiaries or estate if you die within the withdrawal period*.
  • It has a withdrawal value for a period based on your life expectancy – just in case your circumstances change and you no longer require lifetime income*.
  • A potential boost to your Age Pension entitlements under Age Pension rules.

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

For more information about this option, read the PDS, or talk to your financial adviser about whether this is the option for you.

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.