Aware Super partners with Challenger to develop Lifetime Income Solution
2 November 2026
happy couple smiling and laughing at the pier
Aware Super has signed an agreement with Challenger in a major step towards the delivery of a Lifetime Income Solution for Aware’s 1.3 million members.
The partnership builds on the pair’s existing strategic relationship and advances development of an Aware Super Lifetime Income Solution tailored to the needs of Aware members, with a focus on greater choice, flexibility and confidence in retirement.
Aware Super Chief Executive Deanne Stewart said the agreement further demonstrated the $250 billion fund’s commitment to improving retirement outcomes for its members.
“Aware Super is committed to delivering innovative retirement income solutions for our 1.3 million members,” Ms Stewart said.
“As experts in retirement we understand the importance of confidence and choice in helping our members achieve their retirement goals and live the life they’ve worked so hard for.”
A Lifetime Income Solution is designed to give members greater confidence that they can generate an income throughout their retirement, while maintaining a degree of choice and flexibility.
“A Lifetime Income Solution will play a key role in Aware Super’s broader range of retirement solutions, providing greater income confidence and longevity protection for those members who place higher value on these features,” Ms Stewart said.
“As with all of Aware’s retirement solutions, it will be supported by our unmatched range of advice and guidance options to help members make the right choices for their personal goals and circumstances.”
Challenger Managing Director and Chief Executive Officer Nick Hamilton commented:
“We’re delighted that Aware Super has chosen to partner with us to develop a unique lifetime income solution for their members. The real test of a retirement solution is whether it gives people confidence to use the savings they’ve spent a lifetime building, knowing they have income they can depend on.
“As one of Australia’s megafunds, Aware Super has one of the largest number of members approaching retirement in the country. Aware has a significant opportunity to help them turn their savings into income that will last for life.
“We’re combining Challenger’s retirement income and longevity expertise with Aware Super’s leading digital ecosystem and proven track record of delivering innovative solutions at scale.
“This creates an opportunity to take the next step in the evolution of lifetime income and will support Aware Super in giving its members greater income confidence, with choice and flexibility,” Mr Hamilton said.
The agreement with Challenger also helps fulfil Aware Super’s responsibilities under the federal government’s Retirement Income Covenant.