Product Update – Lower Fees and other changes
As part of our commitment to improving members’ retirement outcomes, we are pleased to announce that we’ve made some changes to our MLC MasterKey products1.
What are the product changes?
Update |
Summary |
Effective Date | ||
MLC MasterKey (MKSPF, MKBS, MKPS & MKTAP) |
||||
Reduction to fixed administration fee |
Reduction from $1.50 per week ($78 p.a.) to $1.15 per week ($60 p.a.) 2 |
1 October 2026 |
||
Reduction in administration fees and costs from reserves |
Reduction from 0.04% pa to 0.03% pa |
1 October 2026 |
||
Reduction in investment fees and costs for Simple Choice range |
Investment Option |
Current % pa |
New % pa |
1 October 2026 |
MLC MySuper – all ages to age 62 |
0.69 |
0.67 | ||
| MLC MySuper – age 63 and over | 0.67 | 0.65 | ||
| MySuper Growth Portfolio | 0.69 | 0.67 | ||
| MySuper Conservative Balanced Portfolio | 0.66 | 0.63 | ||
| MLC Stable | 0.60 | 0.57 | ||
| MLC Conservative Balanced | 0.77 | 0.70 | ||
| MLC Balanced | 0.89 | 0.85 | ||
| MLC Growth | 0.90 | 0.86 | ||
| MLC High Growth | 0.85 | 0.83 | ||
| MLC Aggressive | 1.04 | 0.98 | ||
Buy/sell spread reduction MLC Fixed Interest |
Reduction to 0.10%/0.10% |
1 October 2026 |
||
Buy/sell spread reduction MLC Property |
Reduction to 0.20%/0.20% |
1 October 2026 |
||
Update to Adviser Service Fees |
ASFs on contributions will no longer be available. Existing arrangements will be grandfathered. |
1 October 2026 |
||
Changes to allowable contributions methods |
Contributions will no longer be accepted via cheque, credit card and EFT payments. BPAY and direct debit will only be accepted. |
1 October 2026 |
||
Family member applications (MKBS only) |
New family member applications will no longer be accepted. Existing arrangements will be transferred to MLC MasterKey Personal Super |
1 October 2026 6 November 2026 |
||
MLC MasterKey Unit Trust PDS Roll |
||||
Strategic Asset Allocation |
Minor changes made to multi asset investment options |
30 September 2026 | ||
Buy/sell spreads |
Updated spreads |
30 September 2026 | ||
Risk level classifications |
Updated to reflect a revised proprietary risk modelling |
30 September 2026 | ||
1 Impacted products include MLC MasterKey Business Super (MKBS), MLC MasterKey Personal Super (MKPS), MLC MasterKey Super & Pension Fundamentals (MKSPF), MLC Master Term Allocated Pension (MKTAP) and MLC MasterKey Term Allocated Pension (MKUT).
2 MKBS members on a fixed rate of <$60 pa will remain on the lower fee.
Updated Product Disclosure Statements
On 1 October 2026, we updated the Product Disclosure Statements (PDSs) for:
- MLC MasterKey Super & Pension Fundamentals (MKSPF)
- MLC MasterKey Business Super (MKBS), including information relevant to MLC MasterKey Personal Super (MKPS) members
We also updated the MLC MasterKey Unit Trust (MKUT) PDS on 30 September 2026.
The latest PDSs are available on our Forms and brochures page.
We’re here to help
If you’d like to talk to us about this or need more information, please call us on 132 652 (outside Australia +61 3 7073 3044) between 8am and 6pm (AEST/AEDT), Monday to Friday.
