MLC Superannuation Review

fees and investment returns

MLC Super is a public offer retail super fund that was established in 1990. In 2021, the National Australia Bank (NAB) sold MLC Super, along with its wealth management division, to Insignia Financial (formerly IOOF). MLC Super offers a variety of investment and superannuation products to corporate, institutional, and retail clients across Australia.

Today, MLC Super manages nearly $86 billion in retirement savings for 850,000 members, providing investment options and services to help Australians build their retirement wealth.

Who is MLC Super?

MLC Super provides a range of superannuation solutions tailored to the needs of different types of clients, including corporate entities and individual members. With decades of experience and a wide selection of investment choices, MLC continues to offer superannuation solutions focused on long-term growth and security for its members. Headquartered in Melbourne, Victoria, MLC is one of the prominent retail superannuation providers in Australia.

All figures are accurate as at 30 June 2026 unless otherwise stated.

MIC_Super_Homepage_May24

Learn more about MLC Super

MLC’s MySuper growth portfolio option currently charges $553 per year (on a balance of $50,000). This is made up of:

  • $78 per year administration cost and fees
  • 0.15% p.a. of account balance in administration fees and costs (capped at $1,000 p.a.)
  • 0.02% p.a. of account balance paid as Trustee Levy
  • Plus 0.69% p.a. investment fees and costs
  • 0.05% p.a. (estimate) transaction costs
  • Plus 0.04% (estimated) of your account balance in other administration fees and costs paid from reserves

MLC Super MySuper Growth Portfolio has a historic 1 year investment performance of 9.9% and a 10 year return of 7.9% p.a.

Retirement bonuses are paid by super funds once a member reaches retirement.

MLC Super pays a superannuation retirement bonus (Pension Bonus).

To be eligible for the MLC super Pension Bonus, members must have met a full ‘condition of release’ to access your super, transfer some or all of their MLC MasterKey super account and/or Plum Super account to start your first retirement pension, have been invested in an MLC MasterKey super account and/or Plum Super account for a continuous period of at least six months before starting your first retirement pension, haven't previously started a retirement pension with MLC and haven't previously received the Pension Bonus. The rate for the MLC Pension Bonus can change and may be zero.

MLC pension bonus payment is calculated individually and can vary depending on starting retirement pension balance in MLC MasterKey Pension Fundamentals and the MLC Pension Bonus rate at the time your bonus payment is processed.

MLC pension bonus rate is 1.25% as at 6 July 2026 but is subject to change and reviewed regularly.

Compare MLC Super Fund

MLC Super vs Stockspot Super

MLCStockspotLearn more about our investment approach
Investments
ETFs-only portfoliosNoYesThe benefits of combining ETFs and Super
Investment styleCombination of active and indexedIndexed onlyWhy active stock picking rarely works
Includes unlisted assetsYesNoThe risks of unlisted asset valuations
All strategies include >10% gold allocationNoYesWhy you should consider gold in your super
ESG (Sustainable) investment optionsYesYesSustainable portfolio options
Fees
Capped administration feeYesYes
Investment options with total annual cost under 1% p.a.YesYesHow Stockspot Super invests your money
Service
Personal investment advice provided at no extra feeNoYesWhy age matters for your super investment strategy
Mobile app & web dashboard accessYesYesUsing the Stockspot dashboard
Investment options beyond super available in dashboardYesYesHow Stockspot saves you time and money
Access to support via phone, webchat & emailYesYesConnect with our client care and advice team
Structure
Individual-level tax calculation for all holdingsNoYesHow is Stockspot Super tax efficient
Super fund optionDefault MySuper fund option & Choice super optionsChoice super options only
Insurance
Insurance optionGroup and individualIndividual

As at 30 June 2026

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An ETF-only super product with personalised advice that's tailored to your age. Stockspot Super is offered as the Stockspot MDA on Super Simplifier.

Australia's first ETF-exclusive super product. It's the end of pooled super funds and the beginning of transparent investing tailored to your needs.

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Frequently asked questions

What does MLC Super invest in?

MLC Super offers a wide variety of investment options, depending on the preferences and goals of individual members. The fund invests across multiple asset classes, including:

MLC's diversified investment approach helps members achieve long-term growth and manage risk.

Who owns MLC Super?

MLC Super is owned by Insignia Financial Ltd, an Australian financial services provider that manages the operations of the superannuation fund.

What is MLC Super's 10-year return?

MLC Super's MySuper Growth Portfolio has delivered 10-year returns of 7.9% p.a.

Learn more about super