Dave Woodall
MLC’s superannuation members accessed a record $10.3 million in pension bonus payments in 2025 to help kick-start their retirements.
MLC offers members an industry-leading 1.25% tax-free Pension Bonus on their super balance automatically at retirement. For a superannuation balance of $500,000, a bonus payment of $6,250 can be accessed.
MLC Super CEO Dave Woodall said: “With more than three million Australians set to retire in the next decade, we expect more people will start to look at the MLC Super Pension Bonus as a great way to get their next phase of life off to a flying start.
“Not all superannuation funds currently offer a Pension Bonus, but at MLC, we’re definitely seeing the demand for our Pension Bonus increase as a record number of Australians enter retirement age. After years of accumulation, the Pension Bonus is in effect, a tax saving we pass onto our MLC Super members when they retire.
“We know that retirement is a lifetime in the making. Our members have worked throughout their lives to build up their retirement nest egg, so it’s important for us to pass on these tax savings to them – it is their money after all.
“We also believe that all of our members, no matter their balance, should have access to this benefit, which is why we have no minimum account balance and no caps on our payouts.” MLC’s MasterKey Pension Fundamentals product has received Canstar’s Outstanding Value Award in 2025 for providing outstanding value to members by performing to an exceedingly high standard and Chant West’s Five Apples for 2026.
Summary of MLC Pension Bonus payments in 2025:
- MLC has the highest Pension Bonus rate in the industry at 1.25%
- Pension Bonus payments last year averaged $6,199 per member
- Some MLC members received Pension Bonus payments of $25,000
