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Showing 461 - 470 of 676 results for "Lifetime"

Challenger Care Annuity sales suspended

JAMES FERNYHOUGH  |  FRIDAY, 28 NOV 2014
... investors in the annuity. The Department of Social Services (DSS) informed Challenger that the Care Annuity, which provides a lifetime income to people in need of full-time aged care, had "been incorrectly assessed in the past resulting in incorrect ...

TAL lobbies for annuity regulation change

LAURA MILLAN  |  TUESDAY, 11 NOV 2014
... status." The company said that the current regulatory requirement to have regular payments "creates a barrier for deferred lifetime annuities." The insurer said that using a portion of superannuation assets to buy a deferred lifetime annuity and leaving ...

VicSuper to offer Challenger annuities

JAMES FERNYHOUGH  |  THURSDAY, 6 NOV 2014
... members. The products, which the fund expects to launch in early 2015, will be backed by Challenger's guaranteed term and lifetime annuities, and are "designed to help members protect against longevity risk and provide a safe and reliable income stream ...

Mercer unveils longevity insurance product

JAMES FERNYHOUGH  |  THURSDAY, 30 OCT 2014
... much-anticipated longevity insurance solution, which it has called a 'world-first' and a 'retirement game changer'. Dubbed 'Mercer Lifetime Plus', the product behaves like a lifetime annuity, creating a 'pool of lives' and paying out an income until ...

CFS adds annuities to platforms

JAMES FERNYHOUGH  |  WEDNESDAY, 15 OCT 2014
... annuity sales went up by 8% over the prior corresponding period to reach $788 million. This included both fixed term and lifetime annuities. Lifetime annuity sales, meanwhile, increased by $42 million or 35% to hit $161 million for the quarter. They ...

AFA awards Joe Nowak for "a lifetime of contribution"

LAURA MILLAN  |  TUESDAY, 14 OCT 2014
The Association of Financial Advisers (AFA) has awarded the Michael Murphy Award to Joe Nowak for "a lifetime of contribution" to the association and to the advice industry. AFA chief executive Brad Fox said that "Joe's commitment to his clients, his ...

Australia's pension system second best in the world

JAMES FERNYHOUGH  |  TUESDAY, 14 OCT 2014
... members receive benefits of scale are passed on to members, and increased equity sustainability through the introduction of lifetime contribution caps. On the subject of equity, Silk said: "The media, policy makers, politicians and much of the super ...

US private sector super coverage just 50pct

ALEX DUNNIN  |  MONDAY, 13 OCT 2014
... they not the only component of the US retirement system. Nevertheless, as is the case in Australia, for workers with low lifetime income Social Security provides the bulk of retirement resources. The ICI said makes it imperative the Social Security system ...

AllianceBernstein set to launch three renminbi funds

MARK SMITH  |  WEDNESDAY, 17 SEP 2014
... internationalisation of the renminbi were important steps to China becoming a global investment market, describing it as a "once-in-a lifetime development with profound implications." "China's government bond market is already the third-biggest in the ...

Challenger supports default 'MyPension' product

JAMES FERNYHOUGH  |  TUESDAY, 9 SEP 2014
... withdrawals, as they currently do. Challenger recommended three possible models for such a default retirement product: a lifetime annuity; a lifetime annuity and an account-based pension (ABP); or a temporary allowance (ABP) with a deferred lifetime ...