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Guaranteed regular income payable for life
We all want different things from retirement but share a common need: income. Challenger’s lifetime annuity delivers guaranteed regular income payable for life, regardless of how long you live.
Why consider a lifetime annuity?
A Challenger Lifetime Annuity can help give you confidence to spend in retirement because the payments from your annuity are guaranteed to be payable for your lifetime. Here’s a few reasons to consider it.Income for life
Receive guaranteed regular payments for the rest of your life, regardless of how long you live.
No fees
There are no product fees or charges payable to Challenger.
Tax free payments
If you’re using Super monies to invest and you’re 60 or over, the income you receive from your annuity is tax free.
Guaranteed death benefit
A guaranteed death benefit is payable for a period based on your life expectancy up to a maximum of 27 years. This means that your beneficiaries will receive a lump sum payment should you not live as long as expected.
Lifetime income for your spouse
If you decide to include your spouse at the time of investment, your spouse will receive the regular income for their lifetime if they outlive you.
Potential boost to Age Pension
Investing in a lifetime income stream may help boost your Age Pension - thanks to Government means testing rules.
Lifetime annuity payment rates
See the payment rates currently available.
Payment options
Your Lifetime Annuity turns your super or savings into guaranteed regular income payments for life. You can choose from the following options to best match your monthly payments to your needs. If you’re using your super monies to invest, you can also choose to start your payments immediately or at a future date.
Inflation protection
To help keep pace with the cost of living and protect against inflation risk, payments can be fully or partially indexed to CPI.
Changes with market movements
Payments can be linked to changes in investment markets to combine the benefits of regular income for life with exposure to the potential for market growth while still accepting some downside risk.
Changes with RBA movements
You can choose to have payments linked to movements in the RBA cash rate, whether that movement is an increase or decrease.
Fixed payments
This option delivers fixed payments that never change regardless of changes in CPI, RBA cash rate or market movements.
Risks of investing
All investments carry some risk. We’ve listed the key risks that you should consider when deciding whether lifetime annuity is right for you. More details on these risks can be found in the 'What are the risks of investing?’ section of the PDS.
Next steps
If guaranteed regular income for life is something you would like to include in your retirement portfolio, then here are a few things you might like to do next. We also recommend that you speak to your financial adviser.
Get a quote
Call us on 13 35 66 to get a quote or ask your financial adviser.
Apply
To make it easy, we’ve provided some handy steps and tips for you.
