18 December 2024
2024: the year that was
As we approach the end of 2024, it's a perfect time to reflect on a year marked by growth and progress.
This year, many Australians embarked on their retirement journey, underscoring the vital role of effective retirement planning and support. In the next 12 months, a new generation of Australians will be ushered into retirement; with the first wave of Generation X reaching their preservation age in 2025. With the ABS forecasting 710,000 Australians to retire in the next five years, never has the role of advisers been more crucial, and Allianz Retire+ is committed to helping optimise how Australians live - and spend - in retirement by providing solutions that increase financial confidence.
2024 has been a year of positive momentum for both investors and advisers. The ASX200 reached new heights, recession fears eased, and inflation is trending in the right direction.
For advisers, navigating the increasing demand for advice and the drive for efficiency, data security and addressing client concerns were key challenges. Yet, these challenges offered opportunities to strengthen client relationships and boost confidence in retirement planning.
A key highlight was bringing to market Allianz Guaranteed Income for Life (AGILE) - a solution which offers certainty and flexibility, provides guaranteed lifetime income, growth asset exposure and capital protection. This aligns with our commitment to helping Australians secure their financial futures and retire with confidence.
Our consumer research and conversations with advisers highlighted a demand for lifetime income products, emphasising the importance of financial confidence in retirement—a goal we are committed to achieving with you.
In 2024, we focused on supporting and educating advisers. Our Business Development Managers and Technical Services team engaged with advisers nationwide, delivering workshops on retirement strategies, social security, and tax. This dedication to the advice community will continue in 2025 and beyond.
To cap off the year, in October Allianz Retire+ was recognised as one of the Top 100 Most Innovative Companies for 2024 by the Australian Financial Review and, in December, won the Money Magazine Best of the Best 2025 award for Innovation in Retirement Income. These awards emphasise our commitment to innovation, pioneering solutions and setting new standards in our industry to ensure all Australians have access to a reliable income stream in retirement.
As we look to 2025, we are excited to continue this journey with you, building on the momentum in the retirement income space. Thank you for your support throughout 2024.
We wish you, your families and colleagues a happy and safe festive season.
Warm regards,
The Team at Allianz Retire+
About Allianz Retire
Allianz Retire+ delivers the next generation of retirement income solutions to the Australian market. Our financial product solutions are designed to simplify the complex financial and emotional challenges that can confront people who are heading into retirement. Allianz Retire+ is a world-first Australian venture combining the scale and expertise of international insurance provider Allianz and global investment expert PIMCO.
Disclaimer:
This material is issued by Allianz Australia Life Insurance Limited, ABN 27 076 033 782, AFSL 296559 (Allianz Retire+). Allianz Retire+ is a registered business name of Allianz Australia Life Insurance Limited. This information is current as at December 2024 unless otherwise specified and is for general information purposes only. It is not comprehensive or intended to give financial product advice. Any advice provided in this material does not take into account your objectives, financial situation or needs. Before acting on anything contained in this material, you should speak to your financial adviser and consider the appropriateness of the information received, having regard to your objectives, financial situation and needs. No person should rely on the content of this material or act on the basis of anything stated in this material. Allianz Retire+ and its related entities, agents or employees do not accept any liability for any loss arising whether directly or indirectly from any use of this material. Past performance is not a reliable indicator of future performance.
Use of the word ‘guarantee’ in this material refers to an assurance that certain conditions or contractual promises will be fulfilled by Allianz Retire+ from the available assets of its Statutory Fund No 2, in relation to the product terms. This includes ‘guaranteed’ income payments in the Lifetime Income Phase which will be paid from the available assets of Statutory Fund No 2, noting that Allianz Retire+ may terminate the product in certain limited circumstances as outlined in the Product Disclosure Statement referred below. Allianz Australia Life Insurance Limited is the issuer of Allianz Guaranteed Income for Life (AGILE). Prior to making an investment decision, investors should consider the relevant Product Disclosure Statement (PDS) and Target Market Determination (TMD) which are available on our website www.allianzretireplus.com.au.