NAB’s MySuper offers get green light from APRA

02 September 2013

National Australia Bank (NAB) has today announced the Australian Prudential Regulation Authority (APRA) has approved NAB’s MySuper offers.

MLC MySuper and Plum MySuper will be available towards the end of the year. They comprise a single diversified investment strategy aimed at providing the right amount of growth and diversification to help maximise retirement outcomes for members.

Paul Carter, Executive General Manager for Corporate & Institutional Wealth, said: “MLC MySuper and Plum MySuper are extensions of NAB’s market-leading corporate super products MLC MasterKey Business Super and the Plum Super Fund.

“Our MySuper offers are fully integrated with the more than 40 investment options available on our corporate super products to give members more choice when it comes to their retirement.

“Members whose superannuation savings are in MLC MySuper and Plum MySuper will also continue to have access to the other features that make our corporate super products among the best in the market. Among these features are member advice services, from superannuation and investment education programs to financial advice; online support, MLC Member Rewards and the innovative Best Doctors medical assistance service.”

The Plum and MLC MySuper offers will feature tailored workplace insurance or a life-stage insurance offer, which has been designed to provide members with the most appropriate level of cover based on their age.

The investment strategy for MLC MySuper and Plum MySuper will be managed by JANA, a wholly owned subsidiary of NAB and one of Australia’s most successful investment consultants.

Ends

Notes to editors:

1) MLC MasterKey Business Super provides corporate superannuation services to small to medium enterprises. This spans investment management, plan administration, insurance and member services such as financial education, online support and the MLC Member Rewards program. It is rated the top corporate super product by Heron Partnership with six stars. MLC Business Super currently administers more than $13 billion in FUM on behalf of more than 29,000 employers and over 700,000 members

2) Plum provides integrated and innovative superannuation solutions to medium and large Australian organisations. Plum currently administers more than $14 billion in committed funds on behalf of more than 80 clients and over 200,000 members. Plum was named Corporate Solutions Fund of the Year (2013) by Chant West.

For further information:

Media Catherine Woods M: +61 (0) 412 171 447