Allianz Retire+ AGILE receives ‘Approved’ Rating from Lonsec

  • Allianz Guaranteed Income for Life (AGILE) receives ‘Approved’ rating from Lonsec Research Pty Ltd.
  • Approved rating follows ‘Recommended’ rating from Zenith Investment Partners in April.

Sydney, Australia (29 June 2023), Allianz Retire+ has received an ‘Approved’ rating for its longevity solution AGILE from investment research house Lonsec Research Pty Ltd (Lonsec).

The report determined AGILE to be a thoughtfully considered and well-designed product, that may assist in overcoming a major challenge facing retirees being longevity risk by providing a steady or rising income stream over an investor’s lifetime.

Lonsec considers AGILE to have a place alongside other retirement products available to Australian retirees and form part of an overall retirement strategy. AGILE provides investors with a vehicle to participate in market-linked returns with inbuilt protection in both the Growth and Lifetime Income phases. Furthermore, the product offers flexibility with transparent costs and delivers certainty with a guaranteed lifetime income.

Allianz Retire+ Chief Product & Marketing Officer Simon Aboud says, “This ‘Approved’ rating from Lonsec is a key milestone for the business as we continue sharing AGILE with the market. AGILE was designed with retirees at the forefront yet we carefully considered how advisers could access and use AGILE with their clients, which is why the solution is designed to integrate into their current ecosystem, enabling a streamlined process.

When developing AGILE we were determined to deliver certainty of income and flexibility for retirees within a solution. AGILE is designed to help people plan for retirement in advance by locking in a known retirement income rate and providing flexible access to capital if required[1].

We understand that retirees need certainty of income in retirement to mitigate longevity risk, and we believe AGILE solves this fear by delivering a guaranteed income stream for life. As a next generation retirement solution, AGILE also delivers flexibility should a retiree’s circumstances change by providing access to capital.”

AGILE is designed to enhance the provision of retirement planning for advisers. It offers the ability to lock in a guaranteed future rate of income while clients are still in the accumulation phase (pre-retirement) to better plan retirement strategies with certainty.

The solution was developed in consultation with the adviser community, super funds, direct retiree feedback and the global Allianz network in established retirement markets.

Lonsec concluded Allianz Retire+ is well structured, with a robust governance framework and clear lines of accountability. The rating follows the recent appointments within the wealth team as AGILE is distributed to the market.

Allianz 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.

[1] Subject to certain conditions set out in the PDS


About Allianz Retire+

Allianz Retire+ delivers the next generation of retirement income solutions to the Australian market. Our financial product solutions are designed to simplify the complex financial and emotional challenges that can confront people who are heading into retirement. Allianz Retire+ is a world-first Australian venture combining the scale and expertise of international insurance provider Allianz and global investment expert PIMCO.

Disclaimer

This material is issued by Allianz Australia Life Insurance Limited, ABN 27 076 033 782, AFSL 296559. Allianz Retire+ is a registered business name of Allianz Australia Life Insurance Limited.  This material has been prepared by Allianz Retire+ for general information purposes only. It is not comprehensive or intended to give financial product advice. Any general advice provided in this material does not take into account your objectives, financial situation or needs. Before acting on anything contained in this material, you should speak to your financial adviser and consider the appropriateness of the information received, having regard to your objectives, financial situation or needs. No person should rely on the content of this material or act on the basis of anything stated herein. Allianz Retire+ and its related entities, agents or employees do not accept any liability for any loss arising whether directly or indirectly from any use of this material. Use of the word ‘guarantee’ in this material refers to an assurance that certain conditions or contractual promises will be fulfilled by Allianz Retire+ from the available assets of its Statutory Fund No 2, in relation to the product terms. This includes ‘guaranteed’ income payments in the Lifetime Income Phase which will be paid from the available assets of Statutory Fund No 2, noting that Allianz Retire+ may terminate the product in certain limited circumstances as outlined in the Product Disclosure Statement referred below.

Allianz Australia Life Insurance Limited is the issuer of Allianz Guaranteed Income for Life (AGILE). Prior to making an investment decision, investors should consider the relevant Product Disclosure Statement (PDS) and Target Market Determination (TMD) which are available on our website (www.allianzretireplus.com.au).

PIMCO provides investment management and other support services to Allianz Retire+ but is not responsible for the performance of any Allianz Retire+ product, or any other product or service promoted or supplied by Allianz. Use of the POWERED BY PIMCO trademark, or any other use of the PIMCO name, is not a recommendation of any particular security, strategy or investment product.

Lonsec Disclaimer

The rating issued June 2023 is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec). Ratings are general advice only, and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec assumes no obligation to update. Lonsec uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. © 2023 Lonsec. All rights reserved.

Zenith Disclaimer

The Zenith Investment Partners (ABN 27 103 132 672, AFS License 226872) (“Zenith”) rating (assigned Allianz Retire+ Allianz Guaranteed Income for Life (AGILE) April 2023) referred to in this piece is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual, including target markets of financial products, where applicable, and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and the Fund Research Regulatory Guidelines at Fund Research Regulatory Guidelines www.zenithpartners.com.au.