We have created an Annuity Factor. It is a Personal Factor.
We take into consideration, your gender, your age, your tax rate and what we expect future investment returns to be at any point in time.
We combine these all together and create a single number which is your Personal Annuity Factor. We then apply this to your account balance and that tells us how much income you can drawdown each year, paid fortnightly, after tax, and be confident it will last you a lifetime.
The Lifetime Annuity Factor, is all about your personal life expectancy.
Everybody is different, everybody lives a different length of life.
So when we calculate your annuity factor, every year we check in on your birthday to make sure you can always have that confidence your income will last your lifetime.