Adrian Stewart

Allianz Retire+ has announces its Group Retirement Solutions designed to support superfunds preparing to deliver large scale and multi decade solutions to their members.

The industry is experiencing a retirement revolution with Allianz Retire+ leading the charge by addressing innovation in guaranteed income for life solutions and full technology integration allowing superfunds to manage large cohorts of retirees as a group and individually.

In response to the evolving retirement income landscape and the increasing need for integrated solutions, Allianz Retire+ has built the capability for superfunds to allocate retirement income solutions to members at scale. AGILE as a Group Retirement Solution allows superfunds to offer a more comprehensive and streamlined retirement experience to their members and allocate to specific cohorts.

As a global insurer Allianz has the scale to deliver a guaranteed income for life addressing the biggest concern for Australian retirees living frugally in retirement due to fear of running out of money. Partnering with an established life company enables superfunds to tap into the global expertise of Allianz’s network of actuaries and product specialists to co-develop solutions for members who have delivered similar solutions in other more established markets, like the US.

Allianz Australia Life Insurance CEO, Adrian Stewart explains, “We are revolutionising the way people think about retirement solutions and its delivery, to meet the urgent need of retirees. We have developed Group Retirement Solutions and just as you would partner with a life company to provide life cover, superfunds can now partner with a life company to provide retirement solutions that can be managed at the group level.

We understand that delivering retirement income products at scale is a major challenge for superfunds, which is why we have built our product and technology capability to deliver bespoke solutions in partnership with superfunds. This includes proposed changes where superfunds may default members into retirement solutions at the point of retirement.

Superfunds can take advantage of our infrastructure to deliver a more integrated and comprehensive retirement experience for their members, ultimately helping them achieve greater financial security in retirement. Our strategic partnership with Link Group brings rapid integration into the existing pension account services, enabling members to engage with their retirement income strategy on their platform.

The industry is experiencing a retirement revolution and we are committed to partnering with superfunds to deliver tailored, multi decade solutions at scale for members.”

The announcement follows the Government’s adoption of the recommendations within the Quality of Advice Review (QAR) allowing superfunds to provide more retirement advice and information to their members.

Allianz Group is a global leader in the provision of retirement solutions. With over 30 years’ experience in the US retirement market, the group has a presence in over 70 countries and serves 126 million retail and corporate clients. Allianz has been offering customer-centric solutions for Australians since 1914.

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