Alexander Forbes has partnered with Just South Africa, a subsidiary of the United Kingdom-based Just Group, to launch a range of retirement products that combine the benefits of traditional asset class investments with longevity protection: the Alexander Forbes Retirement Income Solutions.

Andrew Darfoor, the group chief executive of Alexander Forbes, says the partnership with Just is designed to introduce a framework that enables retirees to find an optimal solution based on their main objectives in retirement. 

Among other things, the product range takes into account a retiree’s preferences regarding receiving a sustainable income against the liquidity of the investment and inheritance planning. “This optimal investment strategy is embedded into the Lifetime Income Fund, which provides longevity protection,” Darfoor says.

Darfoor says the product range has been launched against the backdrop of statistics from the Alexander Forbes Member Watch survey that show that most people buy living annuities at retirement, investing in traditional asset classes with no longevity protection.

“With the new framework and ability to invest in the Just Lifetime Income Fund, we aim to improve the overall outcomes of retirees,” Darfoor says.

Deane Moore, the chief executive of Just, says: “Just entered the South African retirement market to develop sustainable retirement income solutions that take account of each individual’s particular circumstances. We are delighted to partner our underwriting and risk management capabilities with Alexander Forbes’s investment and administration capabilities, to provide living annuity investors with the opportunity to secure an income that will last a lifetime.”