Allianz Guaranteed Income for Life (AGILE) may give your clients the ability to save tax by getting more into their super under the Total Super Balance (TSB) rules.

See how we created headroom for $120k more in super savings in the case of Mei, below.

Using AGILE within super to unlock future opportunities – an example

Mei retires in September 2025 with an ABP of $2 million, including $600k in AGILE and $1.4m in other assets. The lifetime income payments from AGILE are going into Mei’s (account based pension (ABP) cash account to help fund her ABP pension payments.

By June 2029, Mei’s TSB is $2.28 million, with $500k in AGILE and $1.78m other assets.

As Mei’s TSB is below the assumed 2029 threshold of $2.3 million, Mei becomes eligible to make a non-concessional contribution (NCC) the following year.

Had Mei instead rolled out $600,000 to invest in another super lifetime income stream at retirement, her TSB at June 2029 would have been $2.38m ($1.78m ABP + $600k lifetime income stream transfer balance account credit), which is over the assumed $2.3m general TSB threshold. Mei would have been unable to make an NCC in the following year.

This illustrates how structuring AGILE inside a super fund may help clients achieve contribution eligibility and super  tax concessions over time – maximising their superannuation savings.

The AGILE advantage

AGILE is a guaranteed lifetime income product that can be integrated into a super fund as an investment option within both accumulation and ABP accounts. Here's how it may benefit your clients:

• TSB reduction: when AGILE is part of an ABP, the value counted toward the TSB generally decreases over time as lifetime income payments are made. This can help bring the TSB below key thresholds, unlocking more contribution opportunities and tax advantages. Other lifetime income streams usually have a fixed commencement amount accounting towards TSB, which doesn’t reflect their reducing commutation value.
• Stable income: clients receive a stable lifetime income into their fund’s cash account, even as the ABP balance declines, providing retirement income security.
• Flexibility: clients retain flexible access to their AGILE investment, allowing withdrawals if circumstances change.

The importance of Total Super Balance (TSB)

Your client's TSB is critical for determining eligibility for key superannuation strategies and tax concessions¹  in the following year, including:

• non‑concessional contributions
• carry‑forward concessional contributions
• Government co‑contribution
• spouse contribution tax offset
• work test exemption (for ages 67–74);
• segregated assets method for an SMSF to claim exempt current pension income;
• Division 296 high balance super tax (from 1 July 2026).

How TSB is calculated

Your client’s TSB is calculated at 30 June of each year, and broadly comprises accumulation phase values plus  retirement phase values².

For retirement phase values:

• ABPs use the withdrawal value of the pension rather than TBA credits/debits. This means AGILE’s withdrawal value is included in the ABP TSB value calculation.
• Other lifetime income streams³ typically use their fixed transfer balance account (TBA) value, which doesn’t decline over time, even though their underlying commutation value does.

The takeaway

AGILE can form part of a powerful strategy for clients nearing or in retirement, helping to manage their TSB in a way that some other lifetime income streams can’t. Integrating AGILE into their super fund may optimise access to superannuation tax concessions, contribution strategies and may improve overall retirement outcomes.

¹ TSB value limit varies for different strategies and other eligibility criteria may apply.

² Adjustments are made for amounts in transit such as rollovers and certain limited recourse borrowing arrangements and structured settlement contributions.

³ E.g. standalone superannuation lifetime annuities, defined benefit pensions and innovative retirement income stream (IRIS) products, where TBA value is fixed on commencement, subject to any subsequent commutations.

This material is issued by Allianz Australia Life Insurance Limited, ABN 27 076 033 782, AFSL 296559 (Allianz Retire+). Allianz Retire+ is a registered business name of Allianz Australia Life Insurance Limited. This information is current as at March 2026 unless otherwise specified and is for general information purposes only. This information has been prepared specifically for authorised financial advisers in Australia and is not intended for retail investors. It does not take account of any person’s objectives, financial situation or needs. Before acting on anything contained in this material, you should consider the appropriateness of the information received, having regard to your objectives, financial situation and needs. The returns on the Allianz Guaranteed Income for Life (AGILE) product are subject to a number of variables including investor elections, market performance and other external factors, and may differ from the information contained herein. Past performance is not a reliable indicator of future performance.  No person should rely on the content of this material or act on the basis of anything stated in this material. Allianz Retire+ and its related entities, agents or employees do not accept any liability for any loss arising whether directly or indirectly from any use of this material. Use of the word ‘guarantee’ in this material refers to an assurance that certain conditions or contractual promises will be fulfilled by Allianz Retire+ from the available assets of its Statutory Fund No 2, in relation to the product terms. This includes ‘guaranteed’ income payments in the Lifetime Income Phase which will be paid from the available assets of Statutory Fund No 2, noting that Allianz Retire+ may terminate the product in certain limited circumstances as outlined in the Product Disclosure Statement referred below. Allianz Australia Life Insurance Limited is the issuer of Allianz Guaranteed Income for Life (AGILE). Prior to making an investment decision, investors should consider the relevant Product Disclosure Statement (PDS) and Target Market Determination (TMD) which are available on our website (www.allianzretireplus.com.au).