Challenger annuities available via CFS platforms

Reporter

- Monday, 10 Aug 2015 0 comments — 1 minute read

Yes

Challenger will now make its annuity products available via Colonial First State's leading FirstChoice and FirstWrap platforms.

Challenger chief executive of distribution, product and marketing Paul Rogan said having annuities available via a platform is a "game changer" for advisers.

"It improves the ease and accessibility of delivering retirement income solutions to their clients," Mr Rogan said.

The annuities provider said new research by Market Pulse shows 65 per cent of financial advisers expect the availability of annuities through major investment platforms to increase the use of annuities.

Of these advisers, 66 per cent think that annuity recommendations will increase by between 10 and 20 per cent.

"Access to annuities via platforms helps advisers meet clients' needs to manage market, inflation and longevity risk," Mr Rogan said.

"It facilitates an income-layering approach to retirement portfolio construction which combines account-based pensions with annuities to manage retirees' concerns [about] outliving their savings," he said.

Challenger recently announced it had established partnerships with industry superannuation fund VicSuper and with administration provider AAS.

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