Challenger launches pension fund

macquarie bank IOOF BT term deposits chief executive

12 April 2012
| By Staff |
image
image
expand image

Challenger has launched a new pension product that provides fixed cash flows immune from interest rate and market movements.

The Challenger Guaranteed Pension Fund also allows customers to more easily comply with the minimum drawdown requirements of account-based pensions.

The fund is a fixed 5- or 10-year term, fixed rate, platform-based product available on BT Wrap, Asgard, IOOF and Macquarie Wrap.

"Not many people can afford to simply live off the interest on their deposits but need to consume some invested capital in a disciplined and planned way," said Challenger Life chief executive Richard Howes.

"Unlike term deposits, the Guaranteed Pension Fund can provide the desired level of income from a lower invested amount because principal is returned over the life of the investment."

 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

3 weeks 6 days ago

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

1 month ago

Interesting. Would be good to know the details of the StrategyOne deal....

1 month ago

Insignia Financial has confirmed it is considering a preliminary non-binding proposal received from a US private equity giant to acquire the firm. ...

1 week 4 days ago

Six of the seven listed financial advice licensees have reported positive share price growth in 2024, with AMP and Insignia successfully reversing earlier losses. ...

1 week ago

Specialist wealth platform provider Mason Stevens has become the latest target of an acquisition as it enters a binding agreement with a leading Sydney-based private equi...

6 days 12 hours ago