Jan 18 2023

After careful consideration, AMP has decided to retire as SMT’s manager and appoint Lifetime Asset Management Limited (Lifetime) as SMT’s new manager. The change of manager has been approved by The New Zealand Guardian Trust Company Limited, who is SMT’s Supervisor, and is to be completed on or around the 28 February 2023.

Lifetime’s Managing Director, Ralph Stewart, said “the retirement of AMP and the appointment of Lifetime reflects Lifetime’s commitment of helping Kiwi’s make the transition from saving for retirement to living in retirement.

Many of the SMT members have the benefit of working with a financial adviser, Lifetime is well positioned to support Financial Advisers going forward with Lifetime’s reliable platform on which retirement incomes can be calculated.

This transaction comes after Lifetime acquired the former Aon Master Trust from Fisher Funds in July 2022. The combined scale will result in lower administration and management fees for members of both schemes.

Products managed by Lifetime include the Lifetime Retirement Income Fund (dynamic retirement income solutions), the Garrison Bridge Superannuation Scheme (UK pension transfers), the Lifetime Master Trust (workplace savings scheme) and launching in 2023 the Lifetime Residential Property Fund.