This fixed index annuity offers guaranteed lifetime income, market protection, and the flexibility for participants to adjust income strategies and access cash value, providing a robust solution for sustainable retirement planning.

The Allianz Lifetime Income+® Annuity will now be available to over 80,000 retirement plans and 18 million Empower customers. This collaboration aims to deliver a modern and tailored approach to creating sustainable income streams, addressing the unique needs of individual participants while supporting employers in offering a comprehensive suite of retirement options.

“This partnership aligns with our shared vision of increasing access to guaranteed lifetime income and will allow participants to have a wider range of options to build and protect their future income,” said Matt Gray, Vice President at Allianz Life.

Tina Wilson, EVP & Chief Product Officer for Empower, emphasised the importance of choice in retirement planning: “Americans are living longer than ever before, so it is imperative to provide a diverse range of options to help them create a sustainable income stream that aligns with their desired lifestyle. The expansion of our product suite to include Allianz Lifetime Income+® emphasizes the importance of choice for both employers and participants.”

The partnership highlights a growing focus on innovative retirement solutions as Americans seek financial security and stability in their golden years. By integrating Allianz Lifetime Income+® into its platform, Empower expands its product offerings to meet the evolving needs of retirement savers and plan sponsors.