Administrator Australian Administration Services has positioned itself to act as a conduit for the delivery of annuity-type products to its superannuation clients.
The company joined with annuities specialist, Challenger, to form a strategic alliance which will have the effect of making the Challenger product set available on the AAS aaspire platform.
Confirming the alliance on Monday, Challenger chief executive distribution, product and marketing, Paul Rogan, said he believed the alliance would facilitate the provision of guaranteed retirement income solutions to major super funds in Australia.
"AAS has built strong relationships over a long period of time with super funds. The strategic alliance will enable AAS's super fund clients to easily access and implement products to meet the needs of members who want certainty of income in retirement," he said.
AAS chief executive, Suzanne Holden, said the administration business had received expressions for interest from clients in having annuities available on the aaspire platform.
AAS, owned by Link Market Services, recently grew its reach via Link's acquisition of Superpartners and boasts clients which include AustralianSuper, Cbus, REST, HESTA, CareSuper, Hostplus, and MTAA Super.