Generation Development Group (ASX:GDG) subsidiary Generation Life reached a memorandum of understanding to provide retirement products through Colonial First State, according to a Wednesday filing with the Australian bourse.

As part of the proposed deal, Colonial First State plans to integrate Generation Life's investment bonds and investment-linked retirement income product into the CFS FirstChoice and CFS Edge platforms.

Commercial arrangements are in progress, with the timing of the launch subject to agreed milestones.

Shares of Generation Development Group rose 2% in recent Wednesday trade.