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Important updates

MLC MasterKey Super and Pension investment changes

This article is relevant for the following products:

  • MLC MasterKey Business Super (MKBS)
  • MLC MasterKey Personal Super (MKPS)
  • MLC MasterKey Super and Pension Fundamentals
  • MLC MasterKey Term Allocated Pension

Changes to investment options

Effective 29 September 2023, we’ve made some changes to some of our investment options as detailed below:

Investment option name Change

MySuper Growth Portfolio

  • Strategic Asset Allocations – available in MKBS and MKPS.

MySuper Conservative Balanced Portfolio

  • Strategic Asset Allocations – available in MKBS and MKPS.

MLC MySuper - Ages 55-65

  • There are a number of small changes to Strategic Asset Allocations across ages 55-65 that are associated with the changes to the MySuper Growth and MySuper Conservative Balanced Portfolios. Available in MKBS and MKPS.

MLC Flexible Assertive

  • New Strategic Asset Allocation for each asset class.
  • Investment objective updated from ‘inflation +3.75% pa’ to ‘inflation +3-4% pa’.

MLC Flexible Moderate

  • New Strategic Asset Allocation for each asset class.
  • Investment objective updated from ‘inflation +2.75% pa’ to ‘inflation +2-3% pa’.
  • Standard Risk Measure reduced from High to Medium.
  • Minimum suggested time to invest reduced from 7 years to 3 years.

MLC IncomeBuilder

  • Investment objective updated from:

‘Aims to provide an income stream (excluding capital gains) that grows each year, by investing primarily in Australian shares’

to

‘Aims to provide a growing income stream (excluding capital gains) over 7-year periods.’

  • Investment benchmark regarding annual growth updated from ‘annual growth in dividends’ to ‘growth in income from dividends received.’

Changes to Investment fees and costs

The investment fee for the following super and pension investment options will be reduced from 29 September 2023:

Investment Option

Current investment fee

New investment fee

MLC Australian Fixed Interest Index       

0.39%

0.25%

MLC Australian Property Index

0.36%

0.25%

There will also be some updates to investment fees and costs, effective 29 September 2023, to reflect actual costs incurred for the financial year to 30 June 2023. For more information, please refer to the relevant PDS at mlc.com.au/forms_and_brochures

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.