BT Panorama deepens Challenger relationship

Mike Taylor

Managing Editor and Publisher

3 February 2026

Westpac’s BT Panorama has looked to further leverage its relationship with Challenger to deliver a broader range of annuities-type products on the platform.

The two companies announced that from the second half of this year, BT Panorama would be progressively introducing a retirement income stream including both investment-linked and guaranteed lifetime income options directly within the platform.

It said tis offering would sit alongside existing Challenger annuities already available on platform.

BT made clear that the move was part of its commitment to the retirement Income Covenant.

BT Financial Group chief executive, Matt Rady said the partnership with Challenger is designed to solve a structural challenge in the Australian retirement system.

“Retirement is changing. Australians are living longer, their working lives are more varied, and they want confidence that their savings will last. Too often, retirees are forced to choose between certainty and opportunity – and that’s the problem we’re seeking to solve.”

“By integrating both guaranteed and investment-linked lifetime income into Panorama, advisers can build strategies for their clients that protect income, support long-term growth, and adapt as clients’ needs evolve.

“It’s about delivering real retirement income – sustainable payments that can be linked to inflation, flexibility and a simpler, consistent advice experience,” Rady said.

Challenger chief executive, Nick Hamilton said the strengthened partnership with BT was designed to expand access to lifetime income solutions at scale.

The announcement noted that IRESS, in partnership with Challenger, is set to introduce new retirement modelling capability through Xplan, giving advisers the ability to compare different income strategies. Together with BT Panorama’s digital workflows, the solution delivers improved connectivity between modelling and implementation, supporting a more streamlined advice process.

The announcement said the retirement income solution will be released in two stages: BT plans to release the lifetime super feature in the second half of 2026, allowing members to begin accruing Age Pension asset test concessions while still in accumulation phase before transitioning into pension phase.

It said Lifetime Pension products – offering both investment-linked and guaranteed lifetime income – will follow in 2027, creating a fully integrated, end-to-end framework.