Allianz Retire+ enters strategic partnership deal with Link Group
· Strategic partnership allows Link Group clients access to a suite of Allianz Retire+ retirement income solutions.
· Allianz Guaranteed Income for Life (AGILE) will be available to superannuation funds on Link Group’s Pathfinder retirement platform during 2023.
· Strategic partnership demonstrates collaboration between leading industry specialists enabling better outcomes for members and superannuation funds.
Sydney, Australia (26 April 2023), Allianz Retire+ has announced a new partnership with Link Group, a global provider of technology-enabled administration solutions for the financial services industry. Link Group services over 40% of APRA regulated superannuation accounts in Australia.
The partnership will enable superannuation funds access to a suite of next generation retirement income solutions from Allianz Retire+. The first of which will be its newly launched longevity solution, Allianz Guaranteed Income for Life (AGILE) will be available on Link Group’s Pathfinder retirement platform in 2023.
AGILE will sit inside the super fund as an investment option in the late accumulation phase and within account-based pensions. AGILE delivers super fund members a guaranteed income for life providing greater certainty when planning for retirement and a stable income during retirement.
Speaking on the partnership, Allianz Australia Life Insurance CEO, Adrian Stewart said, “We are thrilled to partner with Link Group in offering super funds access to a greater variety of retirement income and longevity solutions.
We recognise the importance of delivering retirement solutions within existing ecosystems to make it easier for super funds and retirees to access. This enhanced technology integration development also improves our ability to innovate and make flexible retirement solutions available to Australians faster.
The partnership strikes at the heart of the Retirement Income Covenant ensuring super funds have access to the most contemporary longevity solution in the market. Through this partnership we are coming together to enable better outcomes for members and super funds.”
Dee McGrath, CEO Retirement & Superannuation Solutions, Link Group said, “We are delighted to partner with Allianz Retire+ in bringing the AGILE retirement income solution to super funds through integration with our new Pathfinder platform.
With strong demand for solutions like AGILE, this partnership gives our clients access to a product suite that solves for market and longevity risk, creating certainty for members with a guaranteed income for life.
We continue to work with industry specialists and product providers to further develop our Pathfinder platform, helping clients reshape retirement by providing access to high quality product solutions and digital services.”
Allianz Retire+ has made significant investments in leading edge annuity technology and retirement solution infrastructure to support rapid and efficient integration to meet the immediate demands of Australian retirees. This investment will further support the increase of product innovation through collaboration with platforms and super funds.
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
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.
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.