Market Announcement

Care Annuity redefined for social security

28 Nov, 2014

The Department of Social Services (DSS) has informed Challenger Limited (ASX:CGF) that it plans to reverse its means test assessment for the company’s niche Care Annuity. This is expected to reduce the age pension paid to most of the DSS clients who are also investors in the Care Annuity, effective from January 2015.