How It Works

Continue to invest your savings with the flexibility of commencing your guaranteed lifetime income before, at or during retirement.

Growth Phase

Build Your Retirement Savings

AGILE’s Growth Phase is designed to provide you with the opportunity to safely grow your retirement savings and maximise the guaranteed Lifetime Income you will receive in the future.

Protected Investment Growth

Opportunity to grow your retirement savings  with a protected investment. 


Secure Income


Remove uncertainty by locking in a known Lifetime Income Rate – with guaranteed annual rate increases.

Protected Investment Growth

During the Growth Phase you have the opportunity to continue to grow your retirement savings with the assurance of a level of protection from a market downturn. Choose from four market-linked Protected Investment Options.
Depending on your selected Protected Investment Option(s) you will benefit from one of two levels of protection:

Total Protection

Your annual return1 will never be below zero percent. You are protected against all market losses.

Partial Protection: Initial 10%

The first 10% of any market losses will be protected. Losses beyond 10% will be reflected in your annual return.1

Each Protected Investment Option allows you to benefit from equity market returns up to a Maximum Return applicable to that option, while eliminating or reducing losses resulting from market falls.

Secure Income Certainty


Your Lifetime Income Rate is the percentage of your Investment Value you will receive as a guaranteed lifetime income.
It commences with an Age-Based Rate2 and increases by an Annual Income Escalator2 for each complete year you defer commencing your lifetime income.
The longer you remain in the Growth Phase, the higher your guaranteed Lifetime Income Rate.


Both the Age-Based Rate and the Annual Income Escalator can be viewed online and are locked in when you commence your AGILE investment – allowing to plan and make informed investment, retirement and income decisions.

AGILE offers access to market-linked performance (up to a Maximum Return), providing an opportunity to continue to grow your retirement assets.

We calculate the overall change in the relevant equity market index from your AGILE commencement date or most recent anniversary date (whichever is later) to the next anniversary date. The annual return will depend on the annual percentage change of the index subject to the Maximum Return and level of protection of your chosen Protected Investment Option.

Annual returns are calculated before product fees, lifetime income premiums and taxes (where applicable).

Lifetime Income Rates and Maximum Returns are available on our website:

-          Lifetime Income Rates

-          Maximum Returns

You can access some or all of your investment value at any time. During the Growth Phase, investors have access to a Free Withdrawal Amount (FWA) equal to 5% of the initial Investment Amount, available annually.

Withdrawals in the first 10 years may be subject to a Market Value Adjustment. If the Age Pension+ Option is selected, the investor can no longer access the FWA in the Growth Phase, and the available Withdrawal Value will be limited to the maximum amount allowable under the social security Capital Access Schedule.

During the Growth Phase you can reallocate your investment among the Protected Investment Options on each Anniversary Date.
Income Phase

Receive a Guaranteed Lifetime Income

With AGILE you're in control. That's why you choose when you start receiving your guaranteed Lifetime Income - it can be as early as three years from your Commencement Date.

Flexible Income Commencement

Start your guaranteed lifetime income when you are ready.

Income Options

Choose from a Lifetime Income Fixed or Rising payment option.

Flexible Income Commencement

Any time after the third year of your AGILE investment you can begin your lifetime income payments by converting your AGILE Investment Value to a guaranteed lifetime income stream.
Your lifetime income is determined by multiplying the value of your AGILE investment at the time you choose to start your income by your Lifetime Income Rate.
Your income will be paid every month for the rest of your life, or the rest of your spouse's life
(if applicable), guaranteed by Allianz Retire+ and will never decrease.

Income Payment Options


When you’re ready to start receiving income payments, you can choose between a fixed or rising Lifetime Income Payment option. Income is paid monthly in arrears.

Lifetime Income – Fixed

Receive a consistent and guaranteed income for life and enjoy the reassurance of knowing exactly how much you’ll receive each payment.

Lifetime Income – Rising

Receive a guaranteed income for life, plus opportunities for annual payment increases based on positive investment returns of the Australian Equity Index – Total Protection option.

Spouse Insured Option

The Spouse Insured Option may provide continued certainty for your spouse in the event of your death
– payments will continue for the lifetime of the Surviving Spouse.

*Please note that any AGILE benefits, including the income streams such as the Lifetime Income Payments and any other amounts, will be paid to the Investor only, and not to the Life Insured (or a Surviving Spouse, if applicable). Please see the AGILE PDS for more information.

Age Pension+ Option

By choosing the Age Pension+ Option, you may qualify for (or receive more) Age Pension payments due to AGILE being subject to a reduced Age Pension assets test treatment. If you haven’t already done so, commencing your Lifetime Income is the final opportunity to commence the Age Pension+ Option.


You can begin your Lifetime Income Payments any time after three years of the commencement date of your AGILE investment.

The amount you receive will be determined by multiplying your Investment Value on the Lifetime Income Commencement Date by the applicable Lifetime Income Rate.

Your Lifetime Income will also depend on whether the Age Pension+ Option is selected and whether the Spouse Insured Option is selected.

Income Estimator

Your Lifetime Income Payments will be paid monthly in arrears.
Your lifetime income will be paid for the rest of your life and for the lifetime of your spouse if they outlive you (applicable if the Spouse Insured Option is selected).

AGILE offers the option of rising income payments. Under this option your guaranteed income will increase each year by any positive annual return of the Australian equity index (up to the Maximum Return). 

Increases to your income accumulate over time, and will never go backwards – even if the index delivers a negative return.

Any withdrawals made during the first 10 years of your AGILE investment greater than your Lifetime Income Payment are treated as excess withdrawals and will be subject to a charge called a Market Value Adjustment. After 10 years, there is no Market Value Adjustment.

Withdrawals in excess of your Lifetime Income Payments will reduce your future income payments by the percentage of Investment Value withdrawn.

If you select the Age Pension+ Option, all withdrawals (partial and full) are treated as excess withdrawals and will reduce your future income payments.

If you intend to receive the Age Pension as one of your sources of income in retirement, the Age Pension+ Option may be an option for you.

For the purpose of social security means tests, AGILE is treated as an asset-tested income stream (lifetime) product. As a result, selecting the Age Pension+ Option will mean your AGILE investment will be subject to a favourable Age Pension assets test treatment.

By selecting the Age Pension+ Option you may become eligible for the Age Pension or receive higher Age Pension entitlements.

It’s important to be aware that electing the Age Pension+ Option will reduce the Withdrawal Value and benefit payable upon death and will vary the applicable Lifetime Income Rates.

For non-superannuation money, we will pay out any remaining investment value to your nominated beneficiary or estate in the case of individuals, or to the company or trustee for non-superannuation money (including through a Platform). For superannuation money we will pay out any remaining Investment Value  to the superannuation fund trustee, and your lifetime income payments will cease.

If the Age Pension+ Option is chosen, the amount payable on death will be subject to a maximum known as the Age Pension+ Maximum Benefit on Death, which may be greater or less than the Investment Value at that time.

If the Spouse Insured Option is chosen, in the event of death of the Life Insured, the Investor will continue to receive the Lifetime Income Payments for the remaining lifetime of the Surviving Spouse, or the Investor may choose a lump sum payment.

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Withdrawals in excess of your lifetime income payments will reduce your future income payments by the percentage of investment value withdrawn. This percentage may be higher if you have chosen the Age Pension+ Option.

2 A different set of Age-Based Rates and Annual Income Escalators may apply depending on whether:

-    Rising or fixed payment options are selected

-    The Age Pension+ Option is selected; and

-    The Spouse Insured Option is selected.

Any information on this website does not take into account your objectives, financial situation or needs. For personal financial advice please speak to your financial adviser. Products will be issued by Allianz Australia Life Insurance Limited, ABN 27 076 033 782, AFSL 296559. PIMCO Australia Pty Ltd, ABN 54 084 280 508, AFSL 246862, provides investment management and other support services to Allianz Australia Life Insurance Limited.

Allianz Retire+ is the business name of Allianz Australia Life Insurance Limited. By using this website you agree to access this Financial Services Guide.