| 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 | 0.88 % to 1.24% pa |
| Account Fee | $78 pa | |
| Investment Fee | 0.25%pa to 2.00%pa† Click here for more information on investment fees. |
|
| Other fees | Contribution Fee | 5% to Nil (This fee can be rebated by arrangements with your financial adviser) |
| Investment transaction costs | When buying or selling the underlying assets of each investment option, transaction costs may be incurred. Currently between 0.0%-0.5%. | |
| Adviser Service Fee | An annual fee as either a percentage (%) of your monthly account balance or a dollar ($) amount and/or a one off dollar ($) fee (agreed between you and your financial adviser). | |
| 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 non-lapsing binding, non-binding or reversionary beneficiary nomination. | |
| Insurance | Insurance premiums for MLC Insurance can be deducted from MLC MasterKey Pension. | |
| 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 |
Online, MLC Service Centre or in writing (including fax) | |
| Online transactions | Investment switching | |
| Update details | ||
| Update pension payments | ||
† Includes a performance fee of 1.70%