13 November 2013
MLC has reduced fees for the award winning MLC MasterKey Investment Protection product, offering customers a lower cost option to manage the risks they face to fund retirement.
MLC MasterKey Investment Protection is a retirement solution allowing Australians to stay invested in growth assets at the same time as protecting their superannuation or pension income from market downturns.
The MLC Investment Trends survey recently highlighted the two greatest things that individuals feel they are least prepared for when it comes to their retirement: outliving retirement savings and falls in financial markets.1
“People saving for retirement are faced with the unique challenge of having to maintain an investment in growth assets in order to build sufficient savings, and convert these savings into an income stream to last their lifetime. This all has to be balanced with managing their exposure to market risks,” MLC General Manager Retirement Solutions Andrew Barnett said.
“We’re pleased to be able to reduce the cost of MLC MasterKey Investment Protection for people saving for or already in retirement, so that they can invest for growth while protecting their retirement savings or income.”
MLC MasterKey Investment Protection is designed for individuals over 50, with accumulated savings of between $30,000 and $2 million. Their super or pension income can be protected for terms of 10 years, 20 years or for life.
The reduction in fees applies to both the protected capital and protected income for new customers, effective 1 November 2013. The reductions vary between 0.20 and 0.90 per cent per annum depending on the type of protection, term and optional extras chosen.
Funds under management in MLC’s MasterKey Investment Protection have grown to more than $150 million since launching in December 2012.
In addition, MLC MasterKey Investment Protection recently won the 2013 Chant West ‘Best Fund – Longevity Product’ award.
The product is rated ‘Recommended’ by Zenith and Lonsec and adviser dealer groups including Capstone, Futuro, Lonsdale, Sentry, Synchron, CUA and Meritum have recently added it to their approved product lists.
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