"The launch of MTAA Super RetireSafe is a response to the current inadequate solutions to protect retiring Australians from the uncertainty of market fluctuations and longevity risk," Metlife Australia chief executive Marc Lieberman said. Lifetime monthly pension payments continue to be made, even when an account balance reaches zero. The product will also offer members the potential for growth when markets are strong, protection against negative investment performance, access to capital and a death benefit. The product is open to all Australians aged 60 and over and with a superannuation account balance of $50,000 or greater.
