The deal will see Local Government Super, CareSuper and legalsuper make Challenger’s comprehensive retirement income solutions, including annuities, available to members.
Challenger chief executive Brian Benari said the partnership follows the government’s decision to support comprehensive retirement income solutions recommended by the Financial System Inquiry.
“The superannuation industry is now moving ahead to meet the growing needs of its fund members,” Mr Benari said.
“As our retirement system evolves we are seeing positive long-term developments, including a growing industry focus on making retirement income products more accessible,” he said.
The partnership follows the decision by industry fund VicSuper and administration provider AAS to make selected Challenger retirement and annuities products available to fund members.
