MLC MasterKey Pension Fundamentals - Features at a glance
| Minimum initial contribution |
No initial minimum contribution | |
|---|---|---|
| Investment options |
Click here to view our choice of investment options | |
| Frequency of regular payment |
Weekly, fortnightly, monthly, quarterly, half-yearly, yearly | |
| Lump sum withdrawals |
No minimum lump sum withdrawal amount | |
| Standard fees | Administration Fee | 0.66% to 0.88% pa |
| Account Fee | $6.50 per month | |
| Investment Fee | 0.19% pa to 2.49% pa of the value of an investment option. | |
| Other fees | Adviser Service Fee | An annual fee as either a percentage (%) of your monthly account balance or a dollar ($) amount and/or a one off dollar ($) fee (agreed between you and your financial adviser) and/or a percentage (%) of each contribution up to 5% (agreed between you and your financial adviser). |
| Investment transaction costs | When buying or selling the underlying assets of each investment option, transaction costs may be incurred. Currently between 0.0%-0.7%. | |
| Issuer Fee | 0.12% pa (external Investment Options) | |
| Investment management fee rebate |
MLC has negotiated with the investment managers of the external investment options to rebate part of their fees that comprise the Management Expense Ratio. This rebate is known as a Fund Manager Payment and is passed on to members by way of the applicable investment fee. | |
| Death Benefits - nomination of beneficiary |
In the event of your death you can make either a binding, non-binding or reversionary beneficiary nomination. | |
| Insurance | Insurance premiums for MLC Life Cover Super can be deducted from MLC MasterKey Pension Fundamentals | |
| Management Fee Refunds* |
Fee refunds based on your individual or your family linked MasterKey Investment Portfolio balance | |
| Linked Portfolio value between $200,000 and less than $400,000 | A refund of 0.17% pa of your account | |
| Linked Portfolio value $400,000 or more | A refund of 0.32% pa of your account | |
| Flexible payment of fees |
Ability to select where your fees (except the investment fee) are drawn from | |
| Accessing your account information |
InfoDial, MLC Service Centre, online in writing (including fax) | |
| Reporting | On-line access to your account balance and investment portfolio | |
| Annual statement | ||
| Interim statement | ||
| Annual Report | ||
| Latest information and investor education material | ||
^ This is calculated daily and is reflected in the unit prices. The amounts shown are the annualised rate which applied as at 30 December 2006. They comprise expenses incurred by the investment managers, custody fees and MLC's Management Fee.
# Only payable on external investment options with the exception of Platinum International Fund which has no issuer fee.
* A portion of this fee may be refunded, depending on the size of your MasterKey portfolio. Please refer to the Product Disclosure Statement for more information on the fee refund and how the size of a MasterKey portfolio is calculated.
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