North’s multi-award winning retirement solution, MyNorth...

North’s multi-award winning retirement solution, MyNorth Lifetime, has been awarded the Best Fund: Lifetime Product at the Chant West 2024 Super Fund Awards and was a top three finalist for the Advised Product of the Year 2024.

Now in its 12th year, the Chant West Super Fund Awards are an annual celebration of Australia’s best superannuation and pension funds, showcasing best practice in the industry.

The theme this year is ‘Retirement Takes Centre Stage’, highlighting funds that are focused on preparing members for retirement and helping them get the most out of their retirement savings.

The Best Fund: Lifetime Product category is awarded to funds who are developing new and innovative products for retirees, with market-leading solutions like MyNorth Lifetime helping make longevity-aware products more viable and truly catering for retirees’ needs.

Chant West also recognised North’s intuitive digital front end and new North Interactive client review tool which helps advisers digitally engage with their clients at review time.

Last year, MyNorth Lifetime was the winner of the Pension Fund Design and Reform Award at the World Pension Summit, held in The Hague in the Netherlands, as well as the winner of Canstar’s Innovation Excellence Award for 2023.

North was also recently awarded the Most Improved Platform and Best Retirement Solution by Investment Trends1, underlining how North’s innovative retirement offer and continual improvement program is helping create better outcomes for advisers and their clients.

Edwina Maloney, AMP Group Executive, Platforms said:

“This latest award recognises the value of MyNorth Lifetime and why we created it – to help Australians retire with greater financial confidence and have a guaranteed income for life.”

“AMP research shows that fewer than 1 in 10 Australians aged 50 and over expect they will have enough savings for retirement and over 1 in 3 are not confident their nest egg will provide for an adequate lifestyle.

“That is why MyNorth Lifetime continues to be popular with advisers who have been able to realise the benefits of this unique, market-first solution by helping more Australians to and through retirement.”

“Hundreds of advisers from 70 licensees in Australia are now using MyNorth Lifetime for their clients and the strong take up, with IFAs in particular, has been pleasing to see.”

“Advisers are typically using MyNorth Lifetime for more of their clients than they previously used traditional annuities and our average member in retirement has increased their spending by about 50%.”

“MyNorth Lifetime has been a real game changer in helping more Australians reach a dignified retirement without the fear of having their hard-earned savings run out.”