The nation’s largest super fund AustralianSuper has partnered with life insurer TAL to develop a new ‘income for life’ retirement option. 

TAL currently provides life insurance to around 1.4 million AustralianSuper members.  

It came after AustralianSuper’s retirement income strategy identified a cohort of members who may benefit from a lifetime income option supplementing an account-based pension and age pension. 

The ‘income for life’ option is expected to be available in early 2025.