Closed retail fund
Challenger Retirement Fund
Challenger Retirement Fund holds legacy super, pension and insurance contracts. Its products are closed to new members.
THE OVERVIEW
About Challenger Retirement Fund
The fund serves several kinds of contract, including guaranteed personal super, guaranteed income pensions, term allocated pensions and insurance held through super. Their benefits work differently.
Who can join
The provider confirms all products in this fund are closed to new members. Existing holders should use the documents for their particular contract.
THE SUPERGURU VIEW
Our take
This entry is useful for someone trying to understand an existing policy. A modern super comparison can miss the promise built into a legacy pension. Start with the contract, its payment schedule and any surrender value before weighing a change.
Who this profile is for
- Existing policyholders and pensioners reviewing their entitlements.
- People helping a family member identify an older Challenger policy.
What deserves a closer look
- The fund's closed status does not mean every product sold under the Challenger brand is closed.
- A guarantee, if provided, has terms and a named provider. Check both in the contract.
- Legacy pension exit rules and the treatment of benefits require a separate assessment; a fee table cannot establish whether leaving is worthwhile.
Based on the cited product features. These are general reasons to investigate the fund, not a personal recommendation. Supporting sources.
THE NUMBERS
Fees and investment returns
Use the product, investment option and employer plan on your statement. Lifecycle members need to choose the relevant stage. APRA's investment pathways may include closed options held by existing members.
No investment pathway has been matched to this profile in the June 2026 APRA package. Read the fee and performance notes below and use the fund's current documents. Absence from this dataset is not a performance-test failure.
Source: APRA Comprehensive Product Performance Package 2026, published 28 August 2026. Fees reflect the reporting year to 30 June 2026, are net of tax, use standard arrangements and exclude member-activity fees. Dollar figures are rounded. They are not a current quote. Check the latest PDS for changes, insurance premiums and any separately charged advice.
Returns are annualised historical results. Different return bases, risk levels and periods cannot be treated as interchangeable. MySuper net returns use a $50,000 representative balance even when you change the fee balance. A lifecycle stage return does not track a person moving between stages. Missing figures mean not reported, not zero. Past returns do not predict future returns. Read our method and APRA's definitions.
A CLOSER LOOK
Inside Challenger Retirement Fund
Accounts and products
Existing products inside Challenger Retirement Fund. This entry does not describe every annuity currently sold by Challenger Life.
Guaranteed Personal Superannuation
Guaranteed Income Pension Plan
Guaranteed Lifetime Pension Plan
Term Allocated Pension
Term Life under super
Investment choices
Some contracts provide a guaranteed rate or income; others have cash or market-linked features. There is no single investment menu or balanced option that represents the whole fund.
Insurance
Term Life is a separate insurance product in the fund. Holding a pension does not mean a member has that insurance.
Retirement income
Income, withdrawal rights and indexation depend on the original contract. Fixed terms may have break costs, while some lifetime pensions have no withdrawal value.
Comparing investment performance
Do not present this fund as an available destination for a new accumulation account.
Guaranteed-income contracts and ordinary market investment options need different comparisons.
THE LEGAL FUND
Fund size in APRA's annual reporting
Challenger Retirement Fund
At 30 June 2025. These are legal-fund totals, which can include several products and more than one account per person.
APRA annual fund-level statistics, June 2025. These older totals can differ substantially after mergers. Size is not a measure of suitability or investment quality.
Sources for Challenger Retirement Fund
Checked 2026-09-11. Documents and product terms can change after this date.