legalsuper adds annuities products

Legal industry superannuation fund, legalsuper, has announced an expansion of its menu of retirement products with the addition of Challenger guaranteed income accounts.

legalsuper chief executive, Andrew Proebstl announced the move today claiming the fund was amongst the first to offer the additional options which he regarded as a timely response to recent changes to the Age Pension.

The two types of guaranteed income accounts available to legalsuper members are Lifetime and Fixed Term and will be available to members aged 60 or over with balances of $20,000 and above.

Related News:

Proebstl said the addition of the guaranteed income accounts represented an important component of the fund’s response to the challenge of delivering comprehensive retirement income products.

He said that as member balances grew, he expected increasing interest in guaranteed income accounts.

Related Content

73% of Aussies plan to use the Age Pension

Most Australians (63 per cent) do not have a plan for how they will live in retirement and 73 per cent plan to use the Age Pension when they retire, a...more

Testing the sustainability of retirement income strategies

Minh Ly looks at modelling strategies to help advisers help clients understand how likely a desired spending level can be sustained during retirement....more

Challenger result surges via diverse distribution channels

The times and the move towards comprehensive income products in retirement continue to suit Challenger with the company reporting a 21 per cent increa...more



Add new comment