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Regulatory

Government explains Challenger annuity mix-up

The Department of Social Services (DSS) has given its reasons for changing the way it assesses Challenger's Care Annuity, saying it had mistakenly been assessing it on the grounds that investors in the annuity could not get their capital back.

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Read more: DSSCare AnnuityChallengerDepartmentJuly 2014Social ServicesJulyFinancial StandardCare CustomersChallenger annuitiesGovernmentNew YearRegulatory