How it works

You've spent your working life saving for retirement. Your focus has been on accumulating as much as possible. So what happens when you retire and the money starts flowing the other way?

For the first time in New Zealand, Lifetime Retirement Income has combined investment with insurance to give you an income for life.

Whatever happens in the markets, the income you get from your nest egg is protected. Your fortnightly payments can start anytime after you turn 60 and will continue for the rest of your life, no matter how long you live.

I knew that Super wouldn’t be enough. With Lifetime, I know I'll always have enough income, even if I live to 100!

- Pat, Wellington

How is this possible?

When you invest with Lifetime your savings are put into a balanced fund managed by our four investment managers:

The balanced fund is designed to grow your nest egg and make it last as long as possible. All investment returns from the fund are credited to your account. Fees, tax, and your fortnightly income payments are debited from your account.

Even if your regular income payments deplete your savings, this doesn't mean you'll run out of income. Lifetime’s longevity insurance makes sure you keep getting your regular income payments, for life.

You can add to or withdraw your funds at any time. It's your money and you’re in control at all times. If you pass away, your remaining balance will go to your estate.

Both the Fund and the Insurer are licensed and regulated. The Fund is regulated by the Financial Markets Authority. The Insurer is regulated by the Reserve Bank of New Zealand. The Fund is supervised by the Public Trust.

Invest individually or with your partner

You can invest in Lifetime individually or together with your partner. Investing individually insures your income for the rest of your life. Should you pass away, all remaining capital will go to your estate.

Investing with your partner insures your income for both of your lives. This means that if one of you were to pass away, the full Lifetime Withdrawal Benefit will be transferred to the surviving partner for the rest of their life. Should you both pass away, all remaining capital will go to your estate. If you choose to make a joint investment, your Lifetime Withdrawal Benefit rate is based on the age of the younger partner.

Get your income now or later

Your fortnightly income payments can start from the day you turn 60 and will continue for the rest of your life, however long you live.

You can also choose to invest and hold your income for a few years. This gives you the opportunity to grow your investment and your future income while you're still working.

More information

If you would like to find out more about Lifetime we can mail you a free information pack.