Later stage retirement

Later stage retirement

Ensuring you’ll have enough money to live a comfortable retirement for your entire life is a concern for many older Australians.

According to a National Seniors Australia 2018 survey, 84% of older Australians rated having a regular and constant income as a very important factor in their financial planning. And with many Australians living longer, the need for lifetime income products that complement other investments has never been greater.

Challenger lifetime annuities give you an additional layer of protection in retirement by providing guaranteed income payments. They act as a safety net ensuring that you will receive income for life, regardless of how long you live or how investment markets perform.

Like any financial product, there are some risks you should consider before including annuities in your retirement plan. It’s best to speak with your financial adviser about these risks before you consider investing.

But what if I die early?

Challenger lifetime annuities have a long death benefit period based on life expectancy where a lump sum is payable to your estate or nominated beneficiaries. The death benefit is up to 100% of the amount invested. You have the flexibility to remove this feature in return for higher regular payments.

Take the risk away

Because annuities are not exposed to share market volatility, that risk when investing is reduced. It’s this protection from market risk that makes annuities very appealing, particularly following the impact the GFC has had for many people, both before and after retirement.

As you get older, you may have less interest in actively managing your retirement finances. But it can be even more important to make sure you’re provided for as you and your partner grow older. Making a plan now can ensure you're prepared for whatever the future may bring.


Important information

Information provided on the Challenger Websites is intended for Australian residents only and may not comply with the laws of other jurisdictions outside Australia. It is of a general nature and does not take into account an investor's individual circumstances, financial situation or needs or particular investment objectives. It is not intended to be investment advice nor a recommendation or statement of opinion about any particular financial product or class of financial products. As a result, it should not be relied upon in acquiring any financial product or service and is provided in good faith and derived from sources believed to be accurate and current at the date of publication. See Conditions of use for more information.