POWERED BY MOMENTUM MEDIA
QSuper launches annuity product
QSuper and Challenger have launched a new guaranteed term annuity product to QSuper's 540,000-plus members next month.
QSuper chief executive Rosemary Vilgan said the fund's research had shown members had an interest in annuity products.
She said launching the product provided members with a new way to tailor their retirement portfolio.
"We are very focused on giving members access to products and services that will give them greater certainty around their retirement income," she said.
"We believe that providing members with access to annuities helps us to deliver on our commitment to members."
Paul Rogan, Challenger's chief executive of distribution, product and marketing, said he had seen a strong desire for annuities across the market.
"Retirees' desire for stability and control has driven the rapid growth in annuity sales in recent years, making it a natural choice for super funds seeking to broaden member options," Rogan said.
In January, insurer MetLife teamed up with MTAA Super Fund to launch an annuity product for its members that guaranteed an income stream for life.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Coalition, which has pledged to reverse any changes if it wins next year’s election.
In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges.
Chant West analysis suggests super could be well placed to deliver a double-digit result by the end of the calendar year.
Specific valuation decisions made by the $88 billion fund at the beginning of the pandemic were “not adequate for the deteriorating market conditions”, according to the prudential regulator.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.56 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.81 3 y p.a(%)
