Best of the Best 2025: Innovation in Retirement Income
By Money Team
Allianz Retire+ has been recognised for Innovation in Retirement Income as part of the Best of the Best awards.
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Retirees can enjoy their lifestyle and be less concerned about running out of funds, thanks to an innovative product from Allianz Retire+.
Allianz Guaranteed Income for Life, also known as AGILE, is a new-era retirement income stream that was modelled on Allianz Life in the US and launched in Australia in 2023. It is unique in that it straddles both the accumulation and pension phases, blending a growth investment with an annuity.
In this way, AGILE offers downside protection in the growth phase to protect an investor's capital and then generates a predictable income for the rest of their life while still providing the flexibility to manage sudden expenses.
"The US experience is hugely valuable for the Australian marketplace, and we're in a position to leverage that," says Adrian Stewart, chief executive of Allianz Retire+.
One of the great strengths of AGILE is the sense of confidence it can bring to retirement. A report from Allianz Retire+ entitled How Do We Make Retirements More Epic? confirms that fewer than one in four (24%) Australians believes they 'absolutely' have enough to provide for a comfortable life in retirement. Fear of outliving their money means many retirees live more frugally than necessary, often denying themselves a more rewarding lifestyle.
AGILE helps to overcome this problem by providing a retirement income stream no matter how long you live.
The product has two key phases - the growth phase and the lifetime income phase.
"Your money keeps earning market-linked returns in the growth phase, and when you decide to transfer into the lifetime income phase you receive a fixed or rising guaranteed income for life,"
says Stewart.
How is AGILE able to provide guaranteed income for life? As Stewart explains, it is issued by an insurance company, and in this case you are insuring a lifetime retirement income.
"A lifetime income premium is charged, which provides this lifetime income along with peace of mind that can become increasingly important in the latter stages of life," he says.
The minimum investment in AGILE is $20,000. However, Stewart notes: "AGILE is not a product that a consumer puts all of their funds into. It is a product that a retiree puts some of their funds into and it forms the foundation of their retirement income - the absolute certainty."
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