Liz McCarthy
MLC Retirement Boost™ has reached $1.2 billion in funds under management on MLC Expand, becoming the fastest growing innovative retirement income stream product on a wrap platform, reaching the milestone only a year after launch.
MLC Retirement Boost, MLC Expand’s Innovative Retirement Income Stream (IRIS) solution, was developed to help advisers support clients through both the savings and retirement income phases of retirement planning. With the highest income rates in market, MLC Retirement Boost can provide up to 60% more income in retirement when complemented by traditional retirement products such as an account-based pension.
The solution has two flexible phases:
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MLC Retirement Boost (Super) operates like a standard superannuation account, while potentially enabling clients to access means test concessions for the Government Age Pension.
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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 an account-based pension.
Alongside the product solution, MLC Expand has continued to grow its Centre of Excellence for advisers and has recently released further product innovation with the Income Deferral feature, with further innovations planned over the next 12 months.
Liz McCarthy, CEO of MLC Expand, said reaching $1.2 billion in funds under management showed the strength of adviser demand for retirement solutions that fit into the way advisers already work.
“Retirement is one of the biggest financial challenges facing Australians, and advisers are looking for practical ways to help clients feel more confident about the income they can receive in retirement,” Ms McCarthy said.
“Reaching $1.2 billion only a year after launch shows that MLC Retirement Boost is solving a real problem for advisers and their clients. It is now the fastest growing IRIS product on a wrap platform and has the most accounts, which tells us advisers are seeing the value of having a retirement income solution that is flexible, easy to use and supported by the right education and service.
“What has been pleasing is that advisers are not just seeing MLC Retirement Boost as another product. They are seeing it as a practical way to have a different conversation with clients about confidence, certainty and how they can make more of their super in retirement.”
Chant West has rated MLC Retirement Boost ‘Four Apples, Recommended’, the highest possible rating for a new product. Its research found that strategies including MLC Retirement Boost can provide higher annual income through the income that continues for life, as well as higher Age Pension payments, giving retirees greater confidence to spend more in retirement.
MLC Director of Retirement Innovation, Ashton Jones said the growth of MLC Retirement Boost reflected a broader shift in how Australians are thinking about retirement.
“For a long time, retirement has been framed around accumulation. The next challenge is helping Australians understand what they can receive in retirement, so they can live life with more confidence rather than hold back because they are worried about running out,” Mr Jones said.
“That is why it’s not just the product, but the service model that matters. Advisers need more than a strong product. They need education, tools, technical support and a platform experience that makes it easier to bring these conversations to life with clients.”
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. The Centre of Excellence provides advisers with access to expert technical insights, case studies, information, client support tools and calculators, and dedicated support to help advisers unlock the full potential of MLC Retirement Boost.
The milestone follows Chant West confirming that MLC Retirement Boost on MLC Expand delivers some of the highest income rates of lifetime products. MLC Expand also received 2026 Rainmaker AAA Quality Ratings for MLC Expand Essential and Expand Extra, and was named a finalist in the Advised Product Of the Year and Best Fund: Lifetime Product categories at the Chant West 2026 Fund of the Year awards.