20/06/2016

More options to help clients meet their income needs

Short-term guaranteed annuities from Challenger have recently been added to the IOOF Pursuit Select investment menu to give financial advisers greater flexibility and choice when helping clients meet their income needs.

These annuities will be offered within offer periods throughout the year, the first of which is now open for investment.

First offer period closing soon

The following annuities are now available for investment on Pursuit Select:

  • Challenger Guaranteed 12 Month Annuity 3.15 per cent per annum
  • Challenger Guaranteed 24 Month Annuity 3.35 per cent per annum

Financial advisers can place a new order for a Challenger Guaranteed Annuity on behalf of a client via the Order Pad on Portfolio Online up until the offer period closes on Monday, 27 June 2016.

The offer period may close prior to the above cut-off date to ensure that our investment with Challenger remains at an acceptable level.

New investment details

Challenger - 12 Month
Guaranteed Annuity
Fixed interest rate 3.15% pa 3.35% pa
Distributions Semi-annually Semi-annually
Minimum investment
(investment conditions)		 $5,000 per client
(increments of $1000) 		$5,000 per client
(increments of $1000)
Additional investment Not available Not available
Residual Capital Value
(RCV)		 RCV Plus (100% of principal
returned upon maturity) 		RCV Plus (100% of principal
returned upon maturity)
Offer cut-off date 27 June 2016 27 June 2016
Annuity commencement date 30 June 2016 30 June 2016
Annuity maturity date 30 June 2017 30 June 2018
Income Paid to cash account Paid to cash account
Early exit Not available Not available

Investment in this annuity may affect a client's eligibility for social security benefits issued by Centrelink or the Department of Veterans' Affairs

  • Please note that early exit is not available for clients investing in these annuities. In the event of death or financial hardship, early exit will be subject to the terms stated in the Product Disclosure Statement (PDS). View the PDS for the above Challenger Guaranteed Annuities.
  • The maturing principal will be retained in your clients cash account until further instructions are received or it will be used to fund expenses as they fall due. The applicable interest will also be retained in your clients cash account except where they have provided a distribution instruction, in which case the interest will be invested in accordance with this instruction.

More information

For more information, financial planners should contact their local IOOF BDM or call our Adviser Services Teams on 1800 659 634.

IOOF Holdings Limited published this content on 20 June 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 20 June 2016 07:55:04 UTC.

Original documenthttp://www.ioof.com.au/ioof_news/short-term-annuities

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