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Important updates

Changes to investment options and fees

From 17 June 2022, we’ll be updating our Investment Menu by closing some options, moving members to replacement options and introducing a new investment option. This impacts the following products:

  • MLC MasterKey Super & Pension Fundamentals
  • MLC MasterKey Term Allocated Pension
  • MLC MasterKey Business Super, and
  • MLC MasterKey Personal Super.

Additionally, for MLC MasterKey Business Super and MLC MasterKey Personal Super, we’ll be reducing the standard percentage Administration fee that applies to balances in some of our investment options on 17 June 2022.

Changes to investment options

We’ll close the investment options outlined below. If you’re invested in a closing investment option, we’ll write to you to let you know you’ll be moved to a similar replacement option where the total investment fees and costs will be lower.

Closing investment option Replacement investment option Information about the replacement investment option
MLC Horizon 1 - Bond Portfolio MLC Diversified Debt Fund It’s important to note that MLC Diversified Debt Fund has a greater exposure to interest rate and credit risks compared to MLC Horizon 1 – Bond Portfolio.
MLC Horizon 2 - Capital Stable Portfolio MLC Stable MLC Stable is a new investment option that will be available from 17 June 2022.

Further information about the differences between these options can be found in the flyers below:

Changes to fees from 17 June 2022

For MLC MasterKey Business Super and MLC MasterKey Personal Super, the standard percentage Administration fee on balances held outside of MySuper and MLC Cash Fund will be reduced from up to 0.50% pa to up to 0.30%.

Discounted fees through employer plans will continue to apply.

We’re here to help

If you’d like to talk to us about this or you need more information, please call us on 132 652 between 8am and 6pm (AEST/AEDT) Monday to Friday.