Challenger to offer its annuities to large super funds

Challenger has formed an alliance with superannuation fund administrator Australian Administration Service (AAS), with Challenger’s annuity products becoming available to AAS superannuation fund client members. AAS bringing guaranteed retirement income products to the aaspire admin platform.

AAS has a large superannuation fund clientele that includes AustralianSuper, Cbus, REST, HESTA, CareSuper, Hostplus and MTAA Super, with the new products making annuities accessible to a whole new customer base. Expressions of interest have already been received by some of AAS’s clients, a company spokesperson said, meaning that the delivery to super fund members of Challenger annuities may not be too far away.