MLC Retirement Boost hits $500m milestone on MLC Expand, becoming fastest growing IRIS solution
Liz McCarthy
Less than two months after the launch of both the savings and retirement income phases, MLC Retirement BoostTM has surpassed more than $500m on MLC Expand, one of Australia’s largest and fastest growing super and retirement platforms.
In August 2025, the savings component of MLC Retirement Boost opened to a small, targeted group of advice practices, ahead of a phased soft launch to all existing MLC Expand advisers in November 2025, before the launch of the solution’s income phase in March 2026.
MLC Retirement Boost, the newly launched innovative retirement income stream (IRIS) solution, can provide up to 60% more income in retirement when complemented by traditional retirement products like an account-based pension. It has two flexible phases:
- MLC Retirement Boost (Super) operates like a standard superannuation account, while potentially enabling clients to access means test concessions for the Government Age Pension. The earlier customers contribute to MLC Retirement Boost (Super), the greater their potential Age Pension entitlements.
- MLC Retirement Boost (Pension) is designed to deliver retirement income for life, with Chant West confirming it delivers some of the highest income rates of lifetime products, and can be used separately or alongside clients’ account-based pension.
MLC Expand CEO, Liz McCarthy, said, “This is a significant milestone for MLC Expand and shows the demand we’re seeing from financial advisers for MLC Retirement Boost.
“The way that Australians think about retirement is changing and the demand for this solution is a testament to that. People want more personalisation and flexibility in their retirement planning and MLC Retirement Boost gives them this, while increasing the potential of super for more people and potentially creating higher retirement income, from their first super contribution.”
A key part of MLC Expand’s partnership with TAL and Challenger in developing MLC Retirement Boost was the establishment of a Centre of Excellence. A gateway for advisers, the Centre of Excellence provides access to expert technical insights, case studies, information and client support tools and calculators, and dedicated support to help advisers unlock the full potential of MLC Retirement Boost and elevate the value of their retirement advice.
MLC Director, Retirement Innovation, Ashton Jones said: “The feedback from advisers has been overwhelmingly positive, and advisers have appreciated the client-centric education approach we’ve taken when rolling out this solution and the way it is seamlessly integrated within MLC Expand.
“We knew the solution, coupled with our innovative partnership with TAL and Challenger, would be of interest to advisers but the response only a few months in has been really exciting.
“Importantly, this is still just the first phase in MLC’s offering in this space and we’re excited for further retirement innovations over the next 12-18 months.”
The milestone follows Chant West confirming last month that MLC Retirement Boost on MLC Expand delivers some of the highest income rates of lifetime products, also rating it ‘Four Apples – Recommended’, which is the highest possible rating for a new product. MLC Expand also received 2026 Rainmaker AAA Quality Ratings for MLC Expand Essential and Expand Extra, and has been named a finalist in the Advised Product Of the Year and Best Fund: Lifetime Product at the Chant West 2026 Fund of the Year awards.
