Lifetime Income

What Lifetime Income does

Lifetime Income is a New Zealand retirement income specialist that converts retiree assets into a regular, tax-paid fortnightly income stream designed to last the customer's lifetime. The company serves three personas: NZ retirees aged 65+ seeking to supplement NZ Superannuation with a drawdown income, asset-rich cash-poor homeowners aged 70+ seeking debt-free equity release, and retiring couples seeking survivor-income continuity. It operates two flagship products: Lifetime Income, an annuity-style drawdown solution using a proprietary Annuity Factor that combines age, gender, PIR tax rate, and expected returns to calculate a personalised lifetime income; and Lifetime Home, a debt-free equity release mechanism where homeowners aged 70+ sell a 35% interest in their mortgage-free home in exchange for fortnightly income over a 10-year term, retaining full occupancy rights.

The underlying technology is a deterministic actuarial calculation engine (Lifetime Annuity Factor) combined with a managed risk overlay that shifts asset allocation from growth assets to cash when market volatility exceeds defined thresholds. Investment execution is outsourced to four underlying fund managers (Fisher Funds, Smartshares, Simplicity, Kernel Wealth) across equities, fixed interest, property, infrastructure, and cash, with EriksensGlobal providing CIO support and Milliman providing actuarial advisory. The Lifetime Invest product range (Cash, Conservative, Balanced, Growth) was added in October 2024. Lifetime's GTM is sales-led and direct-to-consumer, anchored by an in-person seminar series held three times per year across nine NZ locations and supplemented by online calculators, content marketing, webinars, and a financial-adviser referral channel. Distribution is entirely domestic to New Zealand. The business model is asset-based recurring revenue: a 1.35% p.a. fund management fee on the Retirement Income Fund, plus a 0.20% establishment fee and 0.23% p.a. (10-year capped) fee on Lifetime Home, plus acquisition-related scheme fees. Lifetime manages NZ$1 billion in funds and is supervised by Public Trust and regulated by the Financial Markets Authority.

Name

Lifetime Income

Legal name

Lifetime Asset Management Limited

Website

https://lifetimeincome.co.nz

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

Lifetime Income is a New Zealand retirement income specialist that converts retiree savings and home equity into regular tax-paid income for NZ retirees aged 65+, managing NZ$1 billion in funds via its drawdown fund and debt-free home equity release products.

Ownership category

akta.pro rank

Product category

Retirement Income Solutions and Fund Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910), Pension Funds (52511)

SIC

Investment Advice (6282), Finance Services (6199)

akta.pro primary industry

Annuity & Insurance-Based Retirement Solutions Advisory (FSAEABAH)

akta.pro secondary industries

Retirement & Pension Planning (401(k)/IRA) (FSAEAAAD), Retirement & Distribution Planning RIAs (401(k)/IRA/Pension Rollovers) (FSAAACAE)

Keywords

• Retirement income solutions
• Fund management services
• Annuity drawdown products
• Home equity release
• Retirement savings administration

Headquarters

HQ city

Wellington

HQ country

New Zealand

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Fund Management Fee (Lifetime Retirement Income Fund): 1.35% per annum charged on the account balance of the Lifetime Retirement Income Fund. Covers investment management and the annual retirement income review. Tax is deducted separately at the investor's PIR rate.
2. Annual Fee (Lifetime Home): 0.23% per annum of the Initial Value of the home (inclusive of GST), charged for a maximum of 10 years. This is the primary ongoing fee for the debt-free equity release product.
3. Establishment Fee (Lifetime Home): 0.20% of the Initial Value of the home (inclusive of GST) charged at the time of entering the Lifetime Home Agreement. Covers the initial setup and onboarding process.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels9 records

Core offering

Lifetime Income is a New Zealand retirement income solutions provider that manages the Lifetime Retirement Funds and administers three core product lines: (1) the Lifetime Income drawdown fund, which converts an investor's retirement savings into a tax-paid fortnightly income stream calculated via its proprietary Lifetime Annuity Factor and recalculated annually; (2) Lifetime Home, a debt-free equity release product enabling retirees aged 70+ to sell a 35% interest in their mortgage-free home in exchange for 10 years of fortnightly income with no mortgage, debt, or interest; and (3) Lifetime Invest, a multi-fund scheme offering Cash, Conservative, Balanced, and Growth managed investment options. The company invests across international and Australasian equities, fixed interest, property, infrastructure, and cash via underlying managers, and runs a managed risk overlay to preserve capital.

Product overview

Lifetime Income is a New Zealand-based retirement income solutions provider offering a unified platform of products centered around the Lifetime Retirement Funds Scheme. The portfolio consists of three core offerings: (1) Lifetime Income (Drawdown Fund), the flagship annuity-style drawdown solution that converts retirement savings into tax-paid fortnightly income; (2) Lifetime Home, a debt-free equity release product enabling retirees 70+ to access home equity without debt; and (3) Lifetime Invest, a multi-fund scheme offering Cash, Conservative, Balanced, and Growth investment options. Supporting these are web-based calculators for income projections and home eligibility assessments. The scheme is managed by Lifetime Asset Management Limited with $1 billion in funds under management.

Differentiator

Problem solved

Functional benefit

Brands

• Lifetime Home: Debt-free equity release retirement income solution for retirees aged 70 and above
• Lifetime Income
• Lifetime Invest
• Lifetime Cash Fund
• Lifetime Conservative Fund
• Lifetime Balanced Fund
• Lifetime Growth Fund

Products and services

• Lifetime Income (Drawdown Fund) The flagship drawdown solution that turns retirement savings into a reliable, tax-paid, fortnightly income designed to last the investor's lifetime. Uses a proprietary Annuity Factor combined with lifestyle choices to calculate personalized income projections. Requires minimum NZ$25,000 initial investment. Includes annual income review on the investor's birthday with recalculation of the Annuity Factor and no withdrawal penalties.
• Lifetime Home A debt-free equity release retirement income solution for retirees aged 70 and above. Homeowners sell a 35% interest in their mortgage-free home in exchange for regular fortnightly income payments for 10 years, with no mortgage, debt, or interest and full occupancy rights retained. Charges a 0.20% establishment fee and 0.23% p.a. annual fee of Initial Value (inclusive of GST). Capacity is constrained to 60-80 Lifetime Home Agreements at any one time.
• Lifetime Cash Fund A single sector fund comprising cash and cash equivalents for investors who may need their money in the short-term. Target asset allocation: 100% income with risk indicator 2 out of 7 and estimated annual fund charge of 0.65%. Suggested investment horizon of 1+ year.
• Lifetime Conservative Fund Designed for cautious investors focusing on capital preservation with 20% growth assets and 80% income assets. Risk indicator 3 out of 7 with estimated annual fund charge of 1% and suggested investment horizon of 3+ years.
• Lifetime Balanced Fund Ideal for investors seeking a blend of growth and income exposure with 60% growth assets and 40% income assets. Risk indicator 4 out of 7 with suggested investment horizon of 5+ years.
• Lifetime Growth Fund For investors with long-term horizon offering higher growth potential through 80% growth assets and 20% income assets. Risk indicator 5 out of 7 with suggested investment horizon of 7+ years.
• Lifetime Income Projection Calculator

Quantifiable outcome

• 94% customer satisfaction rate (2025 Customer Survey)
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Fisher Funds Management LimitedcoreTechnology or IntegrationFisher Funds Management Limited is the underlying investment manager for Cash & Cash Equivalents and New Zealand Fixed Interest assets within the Lifetime Retirement Funds scheme.
• Smartshares LimitedcoreTechnology or IntegrationSmartshares Limited is the underlying investment manager for International Fixed Interest, Australian Equities, and International Equities within the Lifetime Retirement Funds scheme.
• Simplicity NZ LimitedcoreTechnology or IntegrationSimplicity NZ Limited is the underlying investment manager for New Zealand Equities within the Lifetime Retirement Funds scheme.
• Kernel Wealth LimitedcoreTechnology or IntegrationKernel Wealth Limited is the underlying investment manager for Listed Property and Listed International Infrastructure within the Lifetime Retirement Funds scheme.
• EriksensGlobal LimitedcoreTechnology or IntegrationEriksensGlobal Limited is the firm from which Peter Verhaart is contracted as Chief Investment Officer and Investment Committee member. Peter serves as Head of Investment Consulting at EriksensGlobal.
• Milliman Inc.coreTechnology or IntegrationMilliman Inc. provides actuarial and investment strategy support. Victor Huang, a principal at Milliman, serves as Investment Committee adviser. Milliman also prepared the Managed Risk Investing and Retirement video for Lifetime's investment education.
• Public TrustcoreStrategic or Co-development PartnerPublic Trust is the Government-owned supervisor and custodian of the Lifetime Retirement Income Fund. Customer funds are deposited into a Public Trust bank account. Public Trust supervises the administration of capital and approves all withdrawals.
• Financial Services Complaints Ltd (FSCL)minorImplementation/ SI/ Consulting PartnerFSCL is Lifetime's independent external dispute resolution scheme — a Financial Ombudsman Service approved by the Minister of Consumer Affairs under the Financial Service Providers (Registration and Dispute Resolution) Act 2008. FSCL's service is free to customers.
• Financial Markets Authority (FMA)coreOthersThe Financial Markets Authority is the regulatory body that monitors Lifetime as a fund manager. Lifetime's operations are subject to FMA oversight as a regulated entity under NZ financial services law.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Craigs Investment Partners: NZ investment advisory and wealth management firm offering KiwiSaver and personalized investment portfolios. Broader investment advisory incumbent overlapping with Lifetime on retirement wealth planning for NZ HNW and retail clients.
• Forsyth Barr: NZ investment advisory and wealth manager offering investment strategy, funds management, and KiwiSaver. Broader NZ incumbent in retirement wealth advisory where Lifetime's Investment Committee draws senior leadership (Kevin Stirrat, Paul Robertshawe).
• Mercer New Zealand: Global investment consulting and wealth management firm with NZ superannuation and KiwiSaver offerings. Comparable to Lifetime on institutional retirement investment strategy, and a former employer of Lifetime's CIO Peter Verhaart.
• Challenger Limited: Australia's largest annuities provider and retirement income specialist. Comparable business model to Lifetime Income as an annuity-style drawdown solution for retirees, providing a scaled benchmark for Lifetime's Annuity Factor approach in a different geography.

Direct peers

• Fisher Funds: NZ fund manager managing retirement and KiwiSaver assets with similar multi-asset strategies to the Lifetime Retirement Funds. Also a partner (manages Cash & Fixed Interest), and a direct competitor in the NZ active retirement fund management market.
• Kiwi Wealth: NZ wealth management platform (owned by Fisher Funds since 2020) offering KiwiSaver, retirement, and investment products. Directly comparable NZ retirement-focused wealth manager with similar multi-asset approach to Lifetime Retirement Funds.
• Simplicity: Low-cost NZ KiwiSaver and investment fund manager that has disrupted NZ retail fund fees. Partner for NZ equities in the Lifetime scheme, and a direct competitor to Lifetime Invest on a cost basis for retirement savers.
• Generate KiwiSaver: One of NZ's largest KiwiSaver providers with ~$5B+ FUM and a focused retirement income strategy. Directly comparable to Lifetime as an NZ retirement-focused managed funds provider serving the same KiwiSaver drawdown / retirement income customer segment.
• Kernel Wealth: NZ digital KiwiSaver and managed funds platform offering low-fee retirement investment options. Partner managing Listed Property and International Infrastructure within Lifetime Funds, and a competitor in NZ retirement managed funds.
• Heartland Group Holdings: NZ-listed reverse mortgage and retirement finance provider offering asset-based lending to retirees aged 60+. Direct competitor in the NZ home equity release / retirement income space, although Lifetime Home's debt-free structure differs from Heartland's traditional reverse mortgage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/income_nz

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lifetime Income