On 30 June 2022, Retirement Income Group (RIG), trading as Lifetime Retirement Income (“Lifetime”) acquired the Aon Master Trust business from Fisher Funds Management.
The Aon Master Trust (now the Lifetime Master Trust) is a registered restricted workplace savings scheme offering employers a flexible superannuation fund design, reduced costs (compared to maintaining a stand-alone scheme) with reduced governance and compliance responsibilities. It provides employees with a number of different investment options through ANZ, Russell Investments, Nikko Asset Management and Milford investment managers.
Lifetime’s Managing Director, Ralph Stewart, says the acquisition is a natural progression for the Lifetime business and will help create a pipeline of business for its retirement income product.
The acquisition brings Lifetime’s total funds under management to $450 million while providing the opportunity to extend its existing retirement income products to the workplace savings market of $8 billion.
For more information on the Lifetime Master Trust click here