Super funds look to provide retirees with annuity option

Frank Gayton, head of practice for Industry Funds Financial Planning, said that a guaranteed annuity offered by an industry fund would be a very attractive product.

It could have various options, such as different guaranteed rates and investment periods, and provide some guaranteed income to run alongside an allocated pension.

A variable annuity product, which was banned in the 1980s, could be an even better option, he said.

Howes said that Challenger was in early-stage discussions with some super funds about providing a unitised version of an annuity.

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Robeco CIO says AI winners and losers will be decided within a year

Asset managers that underestimate the importance of artificial intelligence to their businesses do so at their own peril, according to Anton Eser, global chief investment officer of Robeco, who thinks that many have less than a year to get across the “most important transformation” the industry has seen since the beginning of the index business more than 25 years ago.

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