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MySuper Product

The information on this page will provide you with an overview of how the MySuper product works including different lifecycle cohorts, fees and investment performance.

What’s MySuper?


If you’re a new or existing member and you haven’t made an investment choice, your money will be invested in the MLC MySuper product.

MySuper is the default option for members who don’t choose where to invest their super. Alternatively, you can choose to invest in MySuper, or select from our other investment options or you can have a combination of these.

It’s a good idea to regularly review your investment strategy and selected investment options to make sure they are meeting your needs.



The MLC MySuper product invests in higher growth investments when you’re younger to give your super more opportunity to grow.

As you get closer to retirement age, we’ll gradually replace a portion of the higher growth investments (such as shares and property) with more defensive investments (such as bonds and cash).

Click on the links below for more information on the different lifecycle cohorts within the MLC MySuper product.

  • You're still a while off retirement, so we'll concentrate on growing your super.

    Meet Ben


    25 years old


    Designer at an inner-city agency


    $23,000 in MySuper


    Saving for a deposit on an apartment

    Ben’s aiming for high growth and is prepared to accept the risks if there are falls in the market, as he intends on investing for a long time. Ben’s MySuper has 79% allocation to growth investments such as shares, property and infrastructure. They have potentially higher returns over the long term to help his super grow. However, they tend to have higher risk than investments like cash and fixed interest.

  • As you get closer to retirement, we’ll gradually move some of your MySuper towards more defensive investments such as bonds and cash that may help to reduce the impacts of market ups and downs. Your MySuper balance is adjusted every three months based on the date of your birthday.

    Meet Tracy


    58 years old


    Works part-time in retail


    $123,000 in MySuper


    Starting to think about retirement

    Tracy’s more interested in growing and preserving the money she’s already saved as she doesn’t have as much time to add to her super. Her MySuper will gradually increase its proportion of defensive investments which may help to reduce the impacts from market volatility, although she still has the majority in growth investments such as shares, property and infrastructure to help it grow.

  • At this time, you may or may not choose to retire. Until you decide what you want to do with your money, we’ll keep investing your MySuper balance with 66% growth investments such as shares and property and 34% defensive investments such as bonds and fixed interest. When you retire, you can choose to withdraw a lump sum or receive a regular income stream from your super - or a combination of the two.

    Meet Hannah


    67 years old


    Works part-time in admin


    $171,000 in MySuper


    She and her partner have no mortgage, a small investment property and a modest share portfolio

    Hannah’s keeping her super balance invested in MySuper as she’s continuing to work part-time, even though she’s reached retirement age. Her MySuper continues to have a mix of growth investments to help it grow as well as some defensive investments which may help to reduce the impact from short-term market falls.

Learn more about MySuper

How has the MLC MySuper options performed?

Investment returns to 31 May 20221

MLC MySuper2
Returns (%) Annualised Returns (% p.a.)  
1 month 3 months 1 year 5 years 10 years
MySuper Growth Portfolio -1.3% -0.3% 4.1% 7.0% NA3
MySuper Conservative Growth Portfolio -0.9% -0.9% 1.6% NA3 NA3
MySuper Cash Plus Portfolio 0.0% -0.1% -0.4% NA3 NA3

Past performance is not a reliable indicator of future performance. The value of an investment may rise or fall with the changes in the market.

1All returns are net of investment fees and tax considerations and do not include administration fees and costs. Performance returns are annualised for periods greater than one year. For details of relevant fees and costs, refer to the PDS and Investment Menu.

2MLC MySuper uses a combination of the three investment portfolios (MySuper Growth, MySuper Conservative Growth, MySuper Cash Plus), to provide a mix of growth and defensive assets which changes depending on your age. When you’re under age 55 you’ll be 100% invested in MySuper Growth. From age 55, we add a second portfolio, MySuper Conservative Growth, where a portion of your MySuper balance will be invested. Shortly after you turn 62, you’ll be invested across three portfolios, with a portion of your MySuper balance invested in MySuper Cash Plus.

The MySuper investment strategy changed from a single diversified to a lifecycle strategy on 22 March 2019. The returns for the MySuper growth portfolio for the period before 2019 are based on the previous single diversified investment strategy. The return for 2019 is based on the return achieved from 1 July 2018 to 22 March 2019 with the single diversified strategy, and the return achieved from 23 March 2019 to 30 June 2019 is based on the lifecycle investment strategy. The return for 5-years is based on return of the MySuper product over that period which had different investment strategies.

3The MySuper Conservative Growth and MySuper Cash Plus are new portfolios that were formed when the MySuper product investment strategy changed to a lifecycle strategy on 22 March 2019. Therefore there is no 5-year performance history for MySuper Conservative Growth and MySuper Cash Plus portfolios.

APRA has rated MLC MySuper
as 'passed'

For the 2021 Annual Performance Test, APRA has rated MLC's MySuper product as 'passed'.

MySuper investment

Hear from MLC's investment experts, the people managing your investment options and helping to deliver these MySuper returns.

Your Future Your Super

Further information around YFYS and questions you may have.

For information on our investment options, please refer to the PDS and investment menu.

MySuper fees and costs

MySuper is designed to be simple and cost-effective – download our Product Disclosure Statement (PDS) for further information on fees and costs. If you’re invested in an employer or corporate plan, you should also refer to your PDS, as the figures shown below do not take into account any applicable discounts or employer subsidisation arrangements.

This table provides an example of how the fees and costs for the MySuper investment option can affect your super over a 1-year period.

Standard MLC MySuper costs – Member under the age of 55 with MySuper balance of $50,000

Example - MySuper Balance of $50,000
Administration fees and costs 0.35% pa + $78 pa For every $50,000 you have in the superannuation product, you will be charged or have deducted from your investment $175 in administration fees and costs, plus $78 regardless of your balance.
PLUS Investment fees and costs 0.78% pa And, you will be charged or have deducted from your investment $390 in investment fees and costs
PLUS Transaction costs 0.08% pa And, you will be charged or have deducted from your investment $40 in transaction costs
EQUALS Cost of product
  If your balance was $50,000, at the beginning of the year then for that year you will be charged fees and costs of $683 for the superannuation product.

Note: Additional fees may apply. The Cost of product shown in the example is based on the MySuper Growth Portfolio. For Cost of product information on each investment option, please refer to the Investment Menu.

This information is current as of 1 October 2021 and is subject to change.

How MySuper changes as you get older

All investments come with some risk. Some investment options will have more risk than others, as it depends on an option’s investment strategy and assets.

The value of an investment with a higher level of risk, ie more growth investments will tend to rise and fall more often and by greater amounts than defensive investments with lower levels of risk.

Our MySuper investment option changes in line with your age. The graph shows how the balance of growth and defensive investments gradually changes depending on your age.

Growth and defensive investments graph.

MySuper dashboard

This MySuper Product Dashboard can be used to compare MLC MySuper with other MySuper products. It’s designed to provide a snapshot of key information about our MySuper product and has been prepared in accordance with prescribed standard calculations.

Our Product Disclosure Statement provides more detailed information about the benefits and risks of investing in MLC MySuper.

If you have any questions or want to speak to a financial adviser before you make any changes to your investments, call us on 132 652.

If you decide MySuper is not right for you

It’s always up to you when it comes to investing your super. We offer a range of portfolios if you want to select your own investment options.


Important information

This document contains general information only and so doesn’t take into account your personal financial situation or individual needs. Before acting on the information you should consider whether it is appropriate to your personal circumstances. We recommend that you consider the Product Disclosure Statement (PDS) before you make any decisions about your superannuation. If you need any help in making a decision we recommend that you seek advice from a qualified financial adviser. To obtain a copy of the relevant PDS please contact us on 132 652. NULIS Nominees (Australia) Limited ABN 80 008 515 633 AFSL 236465 is part of the IOOF Group of Companies, comprising IOOF Holdings Ltd ABN 49 100 103 722 and its related bodies corporate (IOOF Group).