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Lifetime Retirement Income Financial Solution

During August 2016, we held two seminars, one in Hamilton and one in Cambridge  called 'Practical Retirement Income Solutions'.

The seminars introduced the Lifetime Retirement Income financial solution, which we belief is a great addition to the suite of investments that we can offer to our clients as they reach retirement age.  With Bernard Hickey as our guest of honour,talking about 'living long and prospering', the seminars were a great success with nearly 150 people attending the sessions.

We like the certainty of income that Lifetime Income provides to our clients and thought this was good time to share information with our clients, and people who are receiving these newsletters.


Lifetime Retirement Income

This new financial solution provides all New Zealanders over the age of 65 with the opportunity of having a regular tax paid income from a lump sum of money invested.

When you retire, you should have a range of investments and sources of income. New Zealand Superannuation income from the New Zealand Government will provide you with your base income.

New Zealand Superannuation is unlikely to provide enough income for your day to day and regular expenses, and Lifetime Retirement Income provides you with the ability to top up this income with a certain level of income.

What income will you receive?

For every $100,000 that you invest, you will receive a tax paid income for the rest of your life.  How much you receive will depend on how old you are when you make your investment into the Lifetime Income Fun and when you choose to start receiving the income.

The Lifetime Income Funds insured after tax income rates are based on age at initial investment. This is not taxable income to you.

Age 65 - 695.00%
Age 70 - 745.50%
Age 75 - 796.00%
Age 80+6.50%


What happens if you die before the investment is used up?

Unlike a traditional annuity (where you give an insurance company your money and get an income, but if you die the week after you invest your money the insurer keeps your money), your funds are invested in a fund in your name.

The fund is used to pay investment management fees and for the insurance policy and any other relevant expenses associated with your investment.

When you invest these funds a Protected Income Base is established.  On each anniversary of your investment, Lifetime then checks whether your Fund Balance exceeds your Protected Income Base.  If it does, the value of your Protected Income Base rises.  BUT if the value falls, the value of your Protected Income Base does not fall.

However, if you take a partial withdrawal, of course the value of your protected income base AND your regular income will fall.

If you die before your funds are used up, then the residual amount of your investment is paid back into your estate.  There is a calculator below that you can use to work out how long your capital might last.  But remember, if you live longer, you will still receive the tax paid income.

Lifetime Quote Calculator

Why is the investment credible?

The fund is the only one of its type in New Zealand, is licensed by the Reserve Bank of New Zealand, authorised by the Financial Markets Authority and has a tax status approved by the Inland Revenue Department. The supervisor (trustee in old terminology) is the Public Trust.

Who are the people involved?

The founders are the Chief Executive, Ralph Stewart who is the former CEO of AXA New Zealand and ACC and Rhys Gwilym, the Chief Operating Office.

The Board has a number of notable professionals as Directors. The Chairperson is Diana Crossan, the previous Retirement Commissioner, and other Board Members include Martin Hawes (financial adviser and commentator), Tim Paris – an Actuary with extensive experience in these types of financial solutions and Graham Mitchell and John Strahl, highly respected Accounting and Legal professionals

In summary, these are the features of the Lifetime Retirement Income solution:

Protection:  Your Protected Income Base is never less than your initial investment. Each year it grows in value, that increase is locked in and becomes your new Base. In addition, your investment is always held in your name by the trustee

Flexibility:  You can access all or part of your investment if your circumstances change

Choice:  You can choose when you start receiving payments. The longer you defer, the higher your Withdrawal benefit percentage will be

Certainty:  Your income payments are insured so will remain constant however the markets perform or how long you may live

Tax effectiveness: Your income payments are tax paid

Legacy:- Any remaining balance in the Fund is paid out to your estate on your death

You can read more about the fund and the people behind Lifetime at

For more information about Lifetime Retirement Income Solutions, contact us by clicking here.

If you have any thoughts or opinions that you would like to share, visit us at our Twitter, Facebook or Linked In pages, and comment.


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