Challenger products added to industry fund platforms

As part of the partnership, AAS will make guaranteed retirement income products available on its aaspire administrative platform as well as enable super fund trustees to implement the FSI recommendation for a ‘Comprehensive Income Product in Retirement’ (CIPR).

AAS provides fund administration, customer contact and financial advice to industry funds AustralianSuper, Cbus, REST, HESTA, CareSuper, Hostplus and MTAA Super.

“This strategic alliance will facilitate the provision of guaranteed retirement income solutions to major super funds in Australia,” Challenger chief executive of distribution, product and marketing Paul Rogan said.

“Challenger’s products help protect retirees from investment market volatility and inflation and, the risk of outliving their savings.”

“AAS has built strong relationships over a long period of time with super funds. The strategic alliance will enable AAS’s super fund clients to easily access and implement products to meet the needs of members who want certainty of income in retirement,” he said.

Challenger’s partnership with AAS follows the recent partnership with VicSuper to assist in the creating of a CIPR for members of the industry fund.