annuity

Post-Retirement

VicSuper gets into bed with Challenger

VicSuper claims to have launched Australia’s first ever public offer comprehensive income product for retirement (CIPR) in partnership with annuity provider Challenger. The offer combines a pension product created by VicSuper’s in-house team with a flexible guaranteed fixed income product from Challenger created after feedback from VicSuper members. VicSuper currently has 20 per cent of […]
Unintentional

Reducing the cost of longevity insurance

Paul McCartney was only 16 years old when he wrote “when I’m 64” in 1958, so can be excused for taking a pessimistic view of what we now regard as an active phase of life during which many of us will still be working by choice. Still, median life expectancy from birth was not quite […]
Post-Retirement

Diverse partnerships likely in retirement product development

An increase in diverse partnerships with financial service providers is likely as super funds attempt to develop attractive post-retirement products, the Post-Retirement Conference heard. These partnerships will likely include fund managers, insurers and investment banks as well as larger funds offering products to smaller funds. Nicolette Rubinsztein, general manager of retirement and advocacy at Colonial […]
Post-Retirement

Mercer to launch pooled self-annuitisation product

Mercer is to launch a group self-annuitisation product into the Australian market next week. The full details have not yet been disclosed, but those close to its inception have described it as a game-changing product with two prominent funds linked to it. What is known is that Mercer will pool retirees in an investment strategy […]
Opinion

What is your fund doing about this graph?

Over 13 years of writing about pensions the graph below is one I have barely seen, but over the last few weeks it has popped up three times. Twice it was used to illustrate post-retirement product innovation and once on TV to illustrate a point about the benefits of people retiring at 70 instead of […]
Investment Strategy

QSuper pension take up grows year-by-year

A sharp uptake in QSuper members choosing its pension product has coincided with the provision of greater flexibility to tailor drawdown. Since December pension payments can be increased annually in line with inflation, while limits on switching and minimum withdrawals have been removed. Members who are invested across several investment options will now also have […]
Investment Strategy

Challenger puts deferred annuity on ice

Challenger is to delay the launch of its deferred lifetime annuity (DLA), after the government said it wanted a review of all post-retirement products before awarding them tax breaks. Earlier this year the Labor government had announced that the income from DLAs would receive a concessional tax break from July 1,  2014. Challenger had planned […]
Post-Retirement

The baby boomer tsunami

Australia has probably the most admired accumulation system in the world, but our system of decumulation is a work in progress. That superannuation funds, politicians and researchers are all talking about change is cause for hope. Indeed such is the level of agreement that the era of easy access to lump sums must end, several […]
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