MLC MasterKey Super Fundamentals - Features at a glance
| Minimum Contribution | Employer | Spouse | |||
|---|---|---|---|---|---|
| Initial contribution or rollover |  |
No minimum for any form of contribution | |||
| Additional transfer, rollover or contribution | |||||
| Direct debit | |||||
| Payroll deduction | |||||
| BPAY | |||||
| Withdrawals | No minimum withdrawal amount | ||||
| Investment Options | Click here to view the choice of investment options | ||||
| Standard fees | Administration fees | 0.88% to 0.66%pa | |||
| Account Fee | $6.50 per month | ||||
| Investment Fee | 0.19%pa to 2.49%pa of the value of an investment option. ^ | ||||
| Other Fees | Contribution Fee | nil | |||
| Investment Transaction Costs | When buying or selling the underlying assets of each investment option, transaction costs may be incurred. Between 0.0% - 0.6% | ||||
| Adviser Service Fees | An annual fee as either a percentage (%) of your monthly account balance or a dollar ($) amount and/or a one off dollar ($) fee and/or a percentage (%) of each contribution up to 5% (agreed between you and your financial adviser). | ||||
| Issuer Fee | 0.12%pa (External Investment Options)# | ||||
| Investment management fee rebate |
We've negotiated with the investment managers of our 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 a reduction of the applicable investment fee. | ||||
| Death Benefits - nomination of beneficiary |
You can either make a binding or non-binding beneficiary nomination. | ||||
| Death Benefits - anti-detriment benefit | Death payments from a member are a tax deduction to the Scheme and reimbursed to a member's dependant/ executor. | ||||
| Insurance | There are a range of Insurance offers available through MLC Life Cover Super. | ||||
| MasterKey fee refunds* | Fee refunds based on your individual or your family linked MLC 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 | ||||
| Accessing your account information | InfoDial, MLC Service Centre, online in writing (including fax) | ||||
| Reporting | On-line access to your account balance | ||||
| Annual Statement | |||||
| Annual Report | |||||
| Tax questionnaire for assessing deductions | |||||
| Latest Information and investor education material | |||||
^ This is calculated daily and is reflected in the unit prices. The Investment fees are represented before the tax benefit.
# 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 MLC MasterKey portfolio. Please refer to the Product Disclosure statement for more information on the fee refund and how the size of a MLC MasterKey portfolio is calculated.
The amounts shown are the annualised rate which applied as at 30 November 2006. They comprise expenses incurred by the investment managers, custody fees and MLC's Management Fee, before the tax benefit that is passed on to you. Please refer to the Product Disclosure Statement for more information on how tax affects your fees.
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