With many households dealing with salary cuts and recent market volatility, some may be wondering whether pension saving is worth it at all, as they focus on making ends meet in the here and now.
This transaction insures the defined benefit pension liabilities of an additional 2,300 members on top of the 7,000 members secured in January.
“It is important to all our stakeholders that not only do we pay pensions, but that we incorporate and embed ESG through everything we do, for the benefit of everyone.”
Angela Murphy, Challenger chief executive for distribution, product and marketing, said the firm hoped the tool would help better prepare retirees to discuss their options when talking to financial planners about retirement.
"It depends on factors such as risk tolerance, accumulated savings, the presence or absence of other sources of income in retirement, such as a pension. Either can be appropriate depending on investor circumstances."