tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Tuesday, March 9th, 12:39PM

News

rss
Latest Headlines

Retirement Income Group gets former finance minister on its board

The architect of KiwiSaver has joined the board of Ralph Stewart's Retirement Income Group. 

Monday, February 13th 2017, 9:20AM

Sir Michael Cullen, former deputy Prime Minister, Minister of Finance, Attorney-General, and recently Chairman of New Zealand Post has joined the board of the Retirement Income Group Limited. 

Retirement Income Group developed and now manages New Zealand’s only modern variable annuity, marketed under the Lifetime Retirement Income brand. A variable annuity is a financial product that converts an investor’s retirement savings into a regular income that is insured to last their entire life.

Sir Michael joins existing independent directors: Diana Crossan, the former Retirement Commissioner of New Zealand; Martin Hawes, a prominent financial commentator; Ralph Stewart, the former CEO of AXA Insurance and ACC; John Strahl, a former partner at DLA Piper; Graeme Mitchell, a former partner at Deloitte; and Timothy Paris, a US-based variable annuity expert.

“Since the successful launch of KiwiSaver in 2007, there has been an obvious need for a well structured investment product that allows savers to convert their retirement savings into a regular income stream that will last their lifetime.

The Lifetime product was launched after three years of research and development and is a modern approach to providing income in retirement. Lifetime Retirement Income has been licensed by the Reserve Bank of New Zealand and received a specific tax ruling from the Inland Revenue Department.

As the population continues to age and KiwiSaver members move into retirement it is important they have reliable options to support their income throughout their retirement”, Cullen said.

The Group, which commenced commercial operations in December 2015, now manages over $35m of superannuation and retirement assets.

Tags: Retirement Income Group

« Financial Advice feedback 'vast'LVR restrictions to be reviewed »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
  • FMA warns adviser for KiwiSaver advice
    “Don't you just love the way FMA slap the hand with a wet bus ticket. NZ self-regulation self-reporting regime must look as...”
    3 hours ago by Chatterbox
  • Adviser learns her fate from FADC
    “Sure, you've been Censured. Sure, you breached a couple of code standards. But OK, you can trade for a couple of weeks after...”
    21 hours ago by All hat no cattle
  • Adviser learns her fate from FADC
    “This and similar regulatory activity will cause an exit of talent from the industry and stop talented newcomers from becoming...”
    1 day ago by LNF
  • Guaranteed medical cover policy wordings
    “Good points JP. Especially where SX says you misunderstand the wording. Except the contract is the policy schedule and the...”
    1 day ago by BayBroker
  • FMA warns adviser for KiwiSaver advice
    “Don't you just love the way FMA continues to state it is satisfied that an adviser contravened the Act. Wouldn't the Police...”
    4 days ago by Murray Weatherston
Subscribe Now

Weekly Wrap

Previous News
Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 2.29 2.59 2.65
ANZ 4.44 2.89 3.25 3.39
ANZ Special - 2.29 2.69 2.79
ASB Bank 4.45 2.29 2.59 2.65
Bluestone 3.49 3.34 2.99 3.34
BNZ - Classic - 2.29 2.59 2.79
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 2.89 3.19 3.39
BNZ - TotalMoney 4.55 - - -
CFML Loans 4.95 - - -
Lender Flt 1yr 2yr 3yr
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.45 - - -
Credit Union Baywide 5.65 3.95 3.85 -
Credit Union South 5.65 3.95 3.85 -
First Credit Union Special 5.85 2.95 3.45 -
Heartland Bank - Online 2.50 1.99 2.35 2.45
Heretaunga Building Society 4.99 3.50 3.40 -
HSBC Premier 4.49 2.25 2.35 2.65
HSBC Premier LVR > 80% - - - -
HSBC Special - 1.99 - -
Lender Flt 1yr 2yr 3yr
ICBC 3.69 2.25 2.35 2.65
Kainga Ora 4.43 ▼2.67 ▼2.97 3.13
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 3.40 3.20 3.50 3.50
Kiwibank - Offset 3.40 - - -
Kiwibank Special 3.40 2.35 2.65 2.65
Liberty 5.69 - - -
Nelson Building Society 4.95 3.20 3.24 -
Pepper Essential 4.79 - - -
Resimac 3.39 3.35 2.99 3.35
SBS Bank 4.54 2.79 2.79 3.15
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 2.29 2.29 2.65
Select Home Loans 3.49 3.34 2.99 3.34
The Co-operative Bank - First Home Special - 2.09 - -
The Co-operative Bank - Owner Occ 4.40 2.29 2.59 2.79
The Co-operative Bank - Standard 4.40 2.79 3.09 3.29
TSB Bank 5.34 3.09 3.29 3.45
TSB Special 4.54 2.29 2.49 2.65
Wairarapa Building Society 4.99 3.55 3.49 -
Westpac 4.59 3.09 3.29 3.39
Westpac - Offset 4.59 - - -
Westpac Special - 2.29 2.69 2.79
Median 4.55 2.73 2.99 2.80

Last updated: 8 March 2021 8:01am

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com