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Our aim to maximise members’ cashflow in retirement has earned our Lifetime Pension product a global award.
Our industry-first retirement product Lifetime Pension received the global recognition at the 2021 Pension & Investments’ (P&I) World Pension Summit Innovation Awards held at The Hague, Netherlands on 14 October 2021.
QSuper was the only Australian superannuation fund selected as a finalist for the prestigious global awards.
Each year, P&I recognises innovative initiatives and proven solutions in the global pensions and retirement community.
Winners are selected for their cutting-edge ideas in plan design, driving engagement and better member outcomes.
The win for QSuper and our members recognises the unique retirement strategy and design of our Lifetime Pension product to drive successful outcomes for members.
Launched in March 2021, our Lifetime Pension product strategy aims to maximise your cashflow in retirement by converting your retirement savings into a tax-free, fortnightly income stream for life.
Many retirees purchasing this product will also be eligible for more Age Pension as it provides an immediate 40% assets test discount.
QSuper members have purchased more than $70 million in Lifetime Pensions since the product was launched, with an average purchase price of around $220,000.
QSuper’s acting CEO, Charles Woodhouse, said the global award was another win for members.
He said it recognised our aim to provide members with more certainty and confidence in retirement.
He said QSuper was the first super fund to meet the challenge set out in the Australian Government’s Retirement Income Review – to develop products that allow retirees to spend their superannuation with the confidence that they would not run out of money later in life.
“Thank you to Pensions and Investments for this wonderful recognition, and to our members for the trust they place in us to look after them in retirement.”
Since its launch, QSuper’s Lifetime Pension has won Australian industry awards including the 2021 Chant West Best Fund: Innovation, and Super Review’s 2021 Best Pension Product awards.
Discover how Lifetime Pension may make a difference to your retirement.
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QSuper’s new retirement product does more than provide an income for life.
QSuper’s resilience and innovation to support our members in an ever-changing environment has been recognised at the prestigious Chant West awards.