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Just Lifetime Income increases

Annual increases

What Just Lifetime Income (JuLI) promises

JuLI provides an income that is paid for life and will never reduce, regardless of what happens to investment markets or how long you live.

Annual increases

Just SA has no discretion over annual increases.

Each year’s increase is calculated using the average investment return over six years of a linked investment portfolio. The six-year averaging is to make increases more stable from year to year. When that average investment return has been strong, increases are high, and the opposite when investment returns have been weak.

The current year’s increases are affected by weak investment returns over the six-year period to end October last year, in particular the period Nov 2017 to October 2020. Stronger returns will improve the average and support higher increases when the earlier, poor returns drop out of the six-year average.

How competitive are these increases?

JuLI is an investment for life and performance is best measured over the long term. Over a five year period, JuLI’s increases have outperformed competitor products on a like-for-like comparison, and expectations relative to inflation.

Our increase notes provide more detail for each investment portfolio and increase category (HiGro, StableGro, SecureGro or HiYield), including: 

  • Just Lifetime Income increase summary and track record
  • A detailed calculation

How does initial annuity income allow for investment performance?  

JuLI provides every person with precisely the same value for money at the date JuLI is bought. The starting income allows for the investment performance – it is relatively higher when the investment performance over six years has been relatively weak. 

Looking forward to future increases

Our full increase formula as well as any expected increases over the next six years under different future investment return scenarios are shown in our fact sheets. These are updated quarterly so you can monitor any changes in expectations.

Need more information?

Please contact us if you'd like to discuss this in more detail with one of our consultants or if you'd like to request a quote. 

A reminder that JustTools allows registered financial advisers to request quotes direct to your inbox.
If you’re not registered, please contact us and we will gladly assist you.

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