A letter from Dave Woodall, CEO Superannuation

With 2026 well underway , I want to thank you for your continued support and the meaningful role you play in looking after your employees’ financial wellbeing. The start of a new year brings fresh energy and an opportunity to refocus on what matters most - helping your people feel confident and secure about their financial future.

The year ahead is already shaping up to be an important one for employers. With significant regulatory changes progressing, evolving expectations from workforces, and new opportunities to enhance the employee experience, we remain committed to working alongside you to navigate what’s next. Our shared momentum from 2025 has set a strong foundation, and I’m looking forward to building on that progress together.

As we move into this next chapter, I’d like to share a number of key updates that will help you stay informed and prepared for what’s ahead.

Super that works hard towards a glorious retirement

It’s been another strong year for MySuper Growth and MLC High Growth returns and your employees’ retirement savings.

For members in our MySuper Growth option, their super grew by 9.6% in the year to December 31 2025.

Looking longer term, returns to 31 December 2025 have averaged 10.2% a year over 3 years and 8.4% a year over 5 years, placing this option among the top three MySuper performers over the 5‑year period according to SuperRatings.*

For more information on how our main investment options performed, please read MLC’s investment performance update.

Payday Super is coming – avoid disruption and get ready for the change

The move to Payday Super from 1 July is one of the biggest changes to the super system in years – and it’s fast approaching. Under this change, employers will need to pay super at the same time as salary and wages, rather than quarterly – a major shift in payroll processes.

In our recent webinar, we went beyond the basics, bringing together senior representatives from the Australian Taxation Office, Financial Services Council and SuperChoice to provide clear, practical guidance on what matters most for your business right now. As our panel of industry experts answered questions from you, our employers, their insights offered a grounded view of what employers should be preparing for today, along with the steps that can make the transition smoother and more efficient.

Thank you to those who submitted questions as part of the Q&A session – we’re working to get your questions answered and published to the website. As this reform progresses, we’ll continue to provide timely updates and practical support to help you prepare with confidence.

Check out the webinar recording and more at our dedicated Payday Super hub.

You can also register for our next webinar where we’ll move beyond the fundamentals and focus on what the transition looks like in practice - so your business can be confident and compliant.

The Middle East in turmoil: conflict scenarios, economic consequences, and portfolio positioning

The ongoing conflict in the Middle East has pushed oil prices higher and contributed to short-term market volatility. While these developments may cause headline concern, history shows that markets often recover quickly once the likely impact becomes clearer.

Our focus remains on what we can control: actively monitoring geopolitical risks, assessing potential economic and market outcomes, and positioning portfolios thoughtfully. Scenarios we’re tracking include potential oil price paths and their likely effect on growth and inflation.

By maintaining a long-term, disciplined approach, we aim to balance risk and opportunity, helping clients navigate volatility with confidence.

Read our latest insights to see how we’re responding strategically.

Positioning members’ savings in a changing market

In our recent Expert Insights Webinar: your quarterly investment update, we share a comprehensive view of the economic and market environment and how we are actively positioning members’ retirement savings for the period ahead. Patrick Nicoll, Senior Investment Strategist, provided an update on interest rates, inflation, tariffs, currency movements and global equity markets, outlining the key forces shaping investment conditions. Steve Gamerov, Head of Diversified Portfolios, walked through MySuper performance, how the MySuper Growth Portfolio is constructed and the strategic decisions being made to position it for long-term resilience and opportunities. Frank Li, Head of Real Assets, also provided insight into our property and infrastructure allocations and the role these assets play in enhancing diversification and supporting sustainable, long-term returns.

I encourage you to watch the recording to stay informed and confident about how we are managing members’ retirement outcomes.

What’s shaping markets: insights from our Senior Economist

MLC Asset Management’s Senior Economist, Bob Cunneen, has also recently shared a series of valuable insights to help employers stay across the forces shaping investment markets. His latest monthly economic and market update highlights how global share markets continued to post solid gains at the start of 2026, supported by optimism around artificial intelligence, strong corporate earnings and stabilising inflation across major economies. Looking back, Bob’s 2025 calendar year in review provides a clear perspective on the year’s standout themes — including the powerful influence of AI-driven growth, shifting interest rate expectations, and the resilience of global markets in the face of geopolitical uncertainty. These articles offer timely context as we navigate the year ahead.

Continuing to deliver strong member outcomes

While we build our refreshed super and retirement offering, we’re committed to deliver best-in-market member outcomes and build on this strength MLC MasterKey Business Super has passed all APRA performance tests and continues to receive reputable awards and ratings including:

• SuperRatings’ Platinum award in 2026 - the highest rating by SuperRatings only given to the top 25% of products rated.
• Chant West’s 2025 5 Apples award - the highest rating by Chant West
• Rainmaker 2025 AAA Quality Rating
• The Heron Partnership’s 5 Star Quality Rating for 2026 for the 20th year in a row, the highest rating by Heron
• For the second consecutive year, Money Magazine has awarded ‘Best Growth Super Product’ as part of their Best of the Best 2026 awards to the MLC Aggressive investment option
  • MLC Aggressive is the number 1 performing diversified option over 10 and 15 years in the entire SuperRatings Fund Crediting Rate Survey as at December 2025, with returns of 11.71% pa and 11.60% pa respectively.
    
    

This recognition reflects our ongoing commitment to delivering quality outcomes and gives employers and members confidence that their super is supported by a consistently high performing and highly rated fund.

You can view the full list of our recent awards and ratings on MLC’s awards page.

Thank you for your continued support and the trust you place in us. I look forward to working together to deliver even stronger outcomes for you and your employees in 2026.

Warm regards,
Dave Woodall
CEO, Superannuation