Acenda Life has marked its entrance into the retirement arena with Lifestream Guaranteed Income, a product backed by Nippon Life.
Described by the firm as a modern retirement income solution, it aims to address the challenges posed by longer lifespans by “providing predictable, guaranteed income for life”.
Sean McCormack, Acenda Chief Commercial Officer, said there is a clear opportunity for the industry to create more predictable retirement income solutions, “that give Australians confidence and certainty in their financial future”.
…certainty becomes increasingly important over longer retirement periods…
“This is the first in a suite of modern retirement solutions we’re building in response to the growing need for financial confidence,” he said.
Features of Lifestream Guaranteed Income include:
- Predictable, guaranteed income for life, even when circumstances change
- Income remains stable regardless of market volatility or interest rates
- Payments can be protected from inflation
McCormack said the product can provide predictable retirement income even when markets or circumstances change, saying indexed payments will not reduce if the CPI falls.
“That certainty becomes increasingly important over longer retirement periods, while helping to counter market volatility and rising living costs,” he said.
