Guaranteed Income for Defined Contribution

Guaranteed income solutions designed to meet the growing demand for retirement security, helping deliver pension-like confidence for life.

Overview
Key Benefits
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The Retirement Challenge

Retirement today asks more of people than ever: generate income that lasts a lifetime, take on the investing and decumulation decisions once handled by a pension and absorb the risk of market downturns at the worst possible time—early in retirement. Our guaranteed income solutions are designed to help address these challenges.

86%

of participants want employers to provide retirement income solutions¹

25%

of plan sponsors currently offer guaranteed income options²

1 in 5

retirees have “unretired,” now working during their 60s and 70s³

SOLUTION

The Power of Auto-Income Solutions

Today’s workers need more than the ability to accumulate savings, they need a clear path to convert those savings into income. Auto income solutions are designed to help address exactly that, embedding guaranteed lifetime income into the retirement strategy.

Our solutions are designed to be seamless and automatic, requiring no additional elections or complex decisions from participants. At the same time, participants retain control over their assets, before and after income activation, and the ability to manage their income needs as life unfolds.

Lifetime income innovation and technology is delivered by Vitera, an affiliate of Apollo.

Lifetime Income Builder⁴: A Retirement Solution That Bridges Savings and Income

Introduces an innovative approach that embeds lifetime income into target date fund glidepaths
Multi-insurer structures deliver potentially more competitive pricing factors and greater growth potential for participants
Designed for control and flexibility, giving participants access to their savings before and after income activation
Qualified Default Investment Alternative (QDIA) eligible, designed to make automatic enrollment seamless

Illustrative Retirement Income Example

The example below demonstrates how different approaches to generating retirement income can affect both monthly income and the probability of depleting savings.

Lifetime Income Builder: A Retirement Income Solution Plan

Guaranteed Income Solutions: Potential Key Benefits

Automatic Income in Retirement

Convert savings into a steady retirement income stream⁷, backed by highly rated insurers.

Easy to Use

Qualifies as a QDIA, enabling automatic income with no complex participant decisions.

Liquid and Portable

Participants maintain access to their savings before and after income activation.

Growth Potential

Designed to deliver comparable performance to traditional target date strategies during accumulation.

Risk Protection

Seeks to protect income from market volatility by locking in the highest portfolio value reached each quarter before income activation.

Low, Transparent Fees

Pricing is competitive with traditional target date funds.

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In the UK, this communication is issued by Apollo Management International LLP (“AMI”), which is authorised and regulated by the UK Financial Conduct Authority. Apollo Credit Management International Limited is an appointed representative of AMI.

2025 Guaranteed Lifetime Income Study, Greenwald & Associates; Nationwide Protected Retirement Survey Report, August 2024.
Alliance for Lifetime Income, Research Paper 2024, Retirement Income InstituteOriginal Research-#028-2024.
T. Rowe Price: New Report, 2023
Lifetime Income Builder” is a group fixed indexed annuity with a guaranteed lifetime withdrawal benefit (a “FIA”). Each target date fund may invest in more than one FIA. Vitera, LLC, an affiliate of Apollo, is the inventor of Lifetime Income Builder. Lifetime Income Builder is not provided by or guaranteed by the target date fund, its Trustee, Vitera, LLC or any of their affiliates.
The TDFs invest in FIAs that are intended to back the Trust’s investment objectives, lifetime income. Each FIA is issued by an insurance company to the trustee of the target date fund. The FIAs provide guaranteed payments to the trustee and are subject to the claims-paying ability of the issuing insurance companies. The FIA guarantees are not made to the participants, and participants are not beneficiaries of any annuity contract The insurers do not guarantee that participants will receive lifetime income. All income payments to participants, regardless of the percentage, are always dependent on the trustee.
6% is a targeted percentage and there is no assurance that the fund will be able to make payments that meet this percentage. All income payments to participants, regardless of the percentage, are always dependent on the trustee. The current target annual income percentage reflects economic conditions at the time each fund is created. Different funds could have lower or higher targeted percentages based on economic conditions at the time of the fund’s creation.
The fund makes no guarantees to the plan participants. The guarantees of the annuities held by the fund are to the trustee of the TDF, not to the participants. Participants are not beneficiaries of any annuity contract.