-- Aware Super has signed an agreement with Challenger in a major step towards the delivery of a Lifetime Income Solution for Aware’s 1.3 million members.
The partnership builds on the pair’s existing strategic relationship and advances development of an Aware Super Lifetime Income Solution tailored to the needs of Aware members, with a focus on greater choice, flexibility and confidence in retirement.
Aware Super Chief Executive Deanne Stewart said the agreement further demonstrated the $250 billion fund’s commitment to improving retirement outcomes for its members.
“Aware Super is committed to delivering innovative retirement income solutions for our 1.3 million members,” Ms Stewart said.
“As experts in retirement we understand the importance of confidence and choice in helping our members achieve their retirement goals and live the life they’ve worked so hard for.”
A Lifetime Income Solution is designed to give members greater confidence that they can generate an income throughout their retirement, while maintaining a degree of choice and flexibility.
“A Lifetime Income Solution will play a key role in Aware Super’s broader range of retirement solutions, providing greater income confidence and longevity protection for those members who place higher value on these features,” Ms Stewart said.
“As with all of Aware’s retirement solutions, it will be supported by our unmatched range of advice and guidance options to help members make the right choices for their personal goals and circumstances.”
Challenger Managing Director and Chief Executive Officer Nick Hamilton commented:
“We’re delighted that Aware Super has chosen to partner with us to develop a unique lifetime income solution for their members. The real test of a retirement solution is whether it gives people confidence to use the savings they’ve spent a lifetime building, knowing they have income they can depend on.
“As one of Australia’s megafunds, Aware Super has one of the largest number of members approaching retirement in the country. Aware has a significant opportunity to help them turn their savings into income that will last for life.
“We’re combining Challenger’s retirement income and longevity expertise with Aware Super’s leading digital ecosystem and proven track record of delivering innovative solutions at scale.
“This creates an opportunity to take the next step in the evolution of lifetime income and will support Aware Super in giving its members greater income confidence, with choice and flexibility,” Mr Hamilton said.
The agreement with Challenger also helps fulfil Aware Super’s responsibilities under the federal government’s Retirement Income Covenant.
-Ends-
Media enquiries:
- Geoff Newman, Aware Super External Affairs, 0410 515 830, [email protected]
- Felicity Goodwin, Challenger Public Affairs, 0461 579 782, [email protected]
About Aware Super
Aware Super is one of Australia’s largest profit-to-member superannuation funds, investing about $250 billion around the world on behalf of around 1.3 million members. We strive to deliver strong long-term returns1 for our members and the help, guidance and advice2 they need to prepare for and enjoy their best possible retirement. Visit the Aware Super Newsroom for the latest news, announcements and insights from Aware Super.
Issued by Aware Super Pty Ltd ABN 11 118 202 672, AFSL 293340, the trustee of Aware Super ABN 53 226 460 365.
About Challenger
Established in 1985, Challenger is Australia’s leading retirement income business with a purpose to provide customers with financial security for a better retirement. We do this by helping Australians convert their accumulated savings into reliable and sustainable retirement income. At the same time, we provide income solutions for institutional investors through our leading credit origination capabilities, providing access to high-quality investment opportunities across public and private markets.
Challenger runs an APRA-regulated life company that provides annuities to customers, and we are listed on the Australian Securities Exchange (ASX).
This media release is general advice only. Consider if this is right for you having regard to your objectives, financial situation, or needs, which have not been accounted for in this information.
1 Aware Super's High Growth option return over 10 years to 30 June 2026. SuperRatings Fund Crediting Rate Survey, June 2026. Based on the SR Growth (77-90) Index. Returns are after tax and investment management expenses but before the deduction of administration fees. Past performance is not an indicator of future performance.
2 Advice provided by Aware Financial Services Australia Limited (ABN 86 003 742 756, AFSL 238430), wholly owned by Aware Super.
Release ID: 89208125
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