Challenger comment on retirement income framework reforms

Company News

by Rachael Jones

Investment managment firm Challenger (ASX:CGF) have released a statement regarding the impact of yesterday's announcement by Assistant Treasurer Stuart Robert MP regarding the Government’s proposed Retirement Income Framework.

Reflecting industry feedback, including from Challenger, the threshold superannuation balance requiring the offer of Comprehensive Income Products for Retirement will increase from $50,000 to $100,000.

The Government is progressing reforms that would provide Australians with more choice to convert their retirement savings into reliable income that lasts throughout retirement.

Challenger Chief Executive Officer Brian Benari said the Framework would make it easier for retirees to access secure and stable income in retirement

Challenger (ASX:CGF) is an investment management firm currently managing $81 billion in assets. It is focused on providing customers with financial security for retirement.

Shares in Challenger (ASX:CGF) are trading 0.10 per cent lower to $10.25.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.