The Employee Retirement Plan (TERP)

The Employee Retirement Plan (TERP) keeps paperwork to a minimum with a single investment fund and simple insurance. It provides an uncomplicated way for your client's, as an employer, to comply with workplace superannuation obligations such as Superannuation Guarantee contributions.

Contributions are invested into member accounts to provide retirement benefits and/or insurance protection from the time your client's enrols them in TERP.

In addition, there are no separate charges for your client to operate their plan. They simply make contributions for each of their employees, with the benefits paid upon genuine retirement on or after the Preservation Age or in special circumstances.

At the time of payment, MLC will deal directly with the employee or their beneficiaries, so your client can continue doing what they do best: running their business.

Who is it suitable for?

• Your clients who are employers seeking a simple way to comply with workplace superannuation obligations such as Superannuation Guarantee Contributions.
• Your clients who are employers who do not have an award or other agreement obligating payment of superannuation to a specific fund.

To find out more about MLC business superannuation products, get in touch with a financial adviser or call MLC on 133 652.

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