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

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Dave Woodall

The way superannuation contributions are paid in Australia is set to change, benefiting millions of Australians through retirement. Yet the majority of the country doesn’t know it’s coming. New research from MLC, conducted by McCrindle^[1] , shows 80% of Australians are unaware of Payday Super, and 85% don’t know when the reform will take effect, despite the shift being just 100 days away.

From 1 July 2026, Australian employers are required to pay an employee’s Superannuation Guarantee (SG) contributions at the same time as their salary and wages, rather than quarterly, under the new Payday Super legislation. This means an employee’s SG contribution will be invested in their account sooner.

MLC also found that 55% of employers aren’t feeling confident that their business is ready to meet the Payday Super requirements on 1 July^[2].

This reform was designed to tackle the estimated $5 billion annual issue of unpaid super^[3], improve retirement outcomes, and increase the transparency and accountability of employers.

For example, a 25‑year‑old median income earner currently receiving their super quarterly and wages fortnightly could be around $6,000 better off at retirement under the new legislation^[3].

According to Dave Woodall, CEO, MLC Super: “Payday Super will help boost the super balances in retirement for millions of working Australians. Paying super at the same time as wages means that more working Australians will see their retirement savings grow simply through being invested sooner.

“With so many Australians still unaware the change is coming, MLC is encouraging people to use this as an opportunity to reconnect with their super.

“Now is a great time to check that your superannuation fund details are correct and up to date. It may seem simple, but checking your personal details are up to date with your superannuation fund helps your fund and employer ensure your contributions, which are your retirement savings, land in the right account sooner.

“Payday Super is good news for Australian workers and could add thousands of extra dollars to their super balance in retirement.

“Although retirement might seem like a long way away for some, it’s important to remember that your superannuation is your money and that a glorious retirement is something that’s actually built by the choices people make today.”

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Notes:
[1] Research commissioned by MLC and conducted by McCrindle. The findings are from an online survey of 1,006 Australians aged 18-79, representative of the Australian population by age, gender, and state/territory. Fieldwork was conducted in December 2025.
[2] Survey conducted of 756 Australian employer by MLC. Employers were asked ‘How confident are you that your business will be ready to meet the Payday Super requirements by 1 July 2026’, with 340 respondents answering they were ‘very confident’ or ‘fully confident’ and 416 respondents saying they were ‘somewhat’, ‘slightly’ or ‘Not at all confident’.
[3] https://ministers.treasury.gov.au/ministers/stephen-jones-2022/media-releases/consulting-payday-super-draft-legislation

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James Sinclair

Following the relaunch of its brand late last year, MLC has appointed a new Senior Manager, Corporate Growth to its corporate super team as interest in the fund’s employer offering increases.

James Sinclair commenced in the role on 2 February and will play a pivotal role in growing the business’ super fund in the institutional and corporate employer markets.

James joins with more than 10 years’ experience in the superannuation sector, including roles at AMP, Mercer, Media Super, SS&C and Iress, and most recently at Employment Hero as the Financial Partnerships Lead.

MLC Super CEO Dave Woodall, commenting on Mr Sinclair’s appointment, said: “James’ appointment to MLC’s Corporate Growth team comes at an exciting time following the relaunch of the MLC brand in October last year.

“We know that MLC is one of Australia’s most trusted and enduring financial brands and that generations of Australians recognise the golden egg as a symbol of quality, expertise and a pioneering spirit.

“James will play an integral role within the Corporate Growth team in supporting how we build on MLC’s nearly 140 years of experience and expertise as one of the largest retirement providers to Australians within the corporate employer market.”

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Dave Woodall

MLC Super has bolstered its leadership team with three new appointments, further strengthening the business to support its ambition to become Australia’s most trusted and fastest-growing super fund.

These appointments bring together deep expertise and diverse perspectives that will accelerate the ability to deliver on our strategy and create exceptional outcomes for members.

Craig Weber will commence as Head of Education and Advice on 24 November delivering best-inclass education, advice and communication engagement initiatives to members. Craig brings more than 20 years’ experience across a range of senior roles at AMP, CFS, Zurich Financial Services and, most recently, as Head of Advice at Ignition.

Alex Kleiman joined as Director of Corporate Growth in May, bringing more than 25 years’ experience in superannuation across a range of growth and distribution roles. Most recently, he was Head of Group Distribution at MetLife Australia and has also held senior positions at Mercer and Plum.

Mandy Rashleigh was appointed Head of Client Relationships in June, overseeing the client relationship team for Insignia Financials’ employer superannuation offerings and is responsible for the execution of MLC Super’s employer value proposition. Mandy previously held senior positions at KPMG, NAB, and most recently at Westpac, as their Global Head of Non-Bank Financial institutions.

These new appointments add to the MLC Super leadership team, which also includes:

• Jason Marler, General Manager, Product
• Amalie White, General Manager, Operations and Partnerships
• Lachlan East, General Manager, Risk

Dave Woodall, CEO MLC Super, said: “I’m delighted to welcome Craig, Alex and Mandy to the MLC Super leadership team. Their expertise and deep understanding of the industry will accelerate our ability to deliver on our strategy and provide exceptional outcomes for members around Australia. “As one of the largest workplace superannuation providers, with long-standing relationships with ASXlisted employers, MLC Super’s strong leadership team places us in good stead to help shape better superannuation outcomes for employers and members alike.

“These appointments bring together exceptional capability and vision and comes at an exciting time for MLC Super, following the completion of the first major milestone of our transition of a range of administration and technology functions to SS&C in July, and the relaunch of the MLC brand and an improved direct-to-consumer offering in October.”

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Dave Woodall

Insignia Financial has successfully transitioned a range of administration and technology functions to global technology leader SS&C Technologies (SS&C), completing the next step in the transformation of its Master Trust business. This follows the signing of a Master Services Agreement in February.

Last week, nearly 1,300 people within the administration, technology and digital teams that support the Master Trust business, have moved to SS&C. This model and partnership is the first at this scale across the Australian financial services industry, and will deliver meaningful benefits for Insignia Financial’s people, customers and shareholders.

Members, employers and advisers will continue to engage with their existing contacts without any disruption, ensuring continuity of service, operations and product knowledge. Insignia Financial will retain functions such as claims, complaints, product development, relationship management, marketing, member education and advice and guidance.

This partnership, along with the positioning of MLC as the go-forward brand, marks another significant step in the ongoing transformation and simplification of the Master Trust business.

CEO MLC Super, Dave Woodall, said: “We’re excited to have successfully completed this major milestone in our industry-first partnership with SS&C, which will enable us to better serve our customers.

“We’re delivering on our commitment to simplify and transform our superannuation business to convert our size into meaningful scale benefits, through lower cost-to-serve, competitive fees and industry leading service outcomes, under our go-forward brand, MLC.

“The transition provides continuity of service for our members, employers and advisers, while laying the foundation for a more intuitive and consistent experience, and a business that’s better positioned to grow and adapt.

“This is an important step towards achieving our 2030 vision to be Australia’s leading and most efficient wealth management company. As we embed our partnership with SS&C, we’re now focused on executing the next phase of our strategy as outlined in our FY26-30 priorities.”

SS&C Head of Global Investor and Distribution Solutions, Australia, Shaun McKenna, said: “We’re proud to be working alongside Insignia Financial on this transformation and welcome the talented team members joining SS&C through this transition.

“Our relationship is built on a strong foundation of trust, innovation and a shared commitment to improve retirement outcomes for all Australians.”

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Dave Woodall

Australian Retirement Trust (ART), one of Australia’s largest super funds, has successfully merged with the $12.3b Commonwealth Bank Group Super (Group Super) plan.

ART will welcome 63,700 new members to the Fund as part of its largest corporate transition to date.

ART’s Chief Commercial Officer, Dave Woodall, said that the latest corporate merger signals the strength of ART’s offering for corporate clients and demonstrates ART’s specialist skill in managing complex transitions.

“This is our second major corporate transition so far this financial year, following on from the Woolworths SFT in August and we have a few more currently in progress, including AvSuper and Alcoa,” Mr Woodall said.

“At Australian Retirement Trust, our vision is to be Australia’s most chosen and trusted retirement partner, and our recent mergers signal the confidence from corporate Australia in what we offer.

“We have a very experienced inhouse transition team with specialist skills and experience in managing complex defined benefit plans as one of the largest defined benefit providers in the Australian superannuation industry.

“Our new members will benefit from ARTs global investment capability, award winning financial advice services and dedicated member support, including digital tools and education seminars.

“We’re very proud that major Australian employers trust us to manage the retirement outcomes of their employees today and into the future.”

The SFT will be completed in two tranches, the initial transition is complete and the transfer of the defined benefit lifetime pensioners (approx. $2b and 3700 members) will occur in the second half of this financial year.

The latest SFT follows ART’s recognition as Corporate Solutions Fund of the Year at the 2023 Chant West awards^[1] for the 8th year in a row for our Super Savings offering. The award acknowledged the super fund working to harness economies of scale and apply these in the best interests of its corporate plan members.

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Notes:
[1] The Zenith CW Pty Ltd ABN 20 639 121 403 AFSL 226872/AFS Rep No. 1280401 Chant West rating (assigned 17 May 2023) is limited to general advice only and has been prepared without considering your objectives or financial situation, including target markets where applicable.

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As part of the changes, there will be a newly created Chief of Retirement role to focus on the execution of ART’s retirement strategy and provide strategic leadership and guidance in the provision of all elements of the retirement offer, including product, investments, service model and advice.

Commenting on the changes, Chief Executive Officer Bernard Reilly said: “As we approach our one-year anniversary as Australian Retirement Trust, the time was right to consider our executive structure, ensuring we’re best placed to manage our expected growth and deliver on our commitment to our 2.2 million members.

“We believe our operating model will ensure we are providing market leading support for our members up to and through retirement. This is an important step as we strive to empower our members to retire well with confidence.

“Our vision is to be Australia’s most chosen and trusted retirement partner, and we believe this structure will align our business to deliver on this and set us up for continued success into the future.”

The executive team:

• Chief Executive Officer: Bernard Reilly
• Chief Commercial Officer: Dave Woodall
• Chief Financial Officer: Anthony Rose
• Chief Investment Officer: Ian Patrick
• Chief People Officer: Helen Jackson
• Chief Risk Officer: Anne Browne
• Chief Strategy Officer: Stevhan Davidson
• Chief Technology Officer: Rod Greenaway
• Chief Member Officer: vacant
• Chief Retirement Officer: vacant

Teifi Whatley, Chief Strategy Officer, will retire at the end of March after more than 20 years at Australian Retirement Trust and previously Sunsuper in roles spanning brand, marketing, technology and strategy.

Karin Muller, Chief Member Officer, has decided to pursue opportunities outside of the fund and will stay on with ART until the end of March. Karin joined QSuper in 2015 and has held roles across information technology, transformation and member services.

Teifi and Karin played a significant role in delivering our merger and our first year as ART. Their hard work, commitment and unwavering dedication to our members will leave a lasting legacy.” said Mr Reilly.

The new structure is effective from 1 March and recruitment for the two vacant roles of Chief of Retirement and Chief Member Officer is underway.

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