Lisa Croudace

As part of its continued focus on delivering for members, employers and advisers, MLC Super has appointed Lisa Croudace as General Manager, Portfolio Delivery, and Nerique Paterson as General Manager, Employer Superannuation.

The newly created roles reflect MLC Super’s focus on executing a significant program of change while continuing to grow its presence in the employer market.

Ms Croudace joined MLC Super on 14 September and is responsible for leading the coordination and execution of the portfolio of change underway across the business, with a focus on governance, prioritisation and delivery outcomes. She brings more than two decades of experience across superannuation, wealth management and enterprise transformation, including senior leadership roles at Mercer Australia and leading major transformation programs at BT Financial Group, including five Successor Fund Transfers and the transfer of BT Super into Mercer Super. Ms Paterson will join MLC Super in January 2027 as General Manager, Employer Superannuation.

She joins from Australian Retirement Trust (previously Sunsuper), where she has been integral in growing the Fund through employer channels across Corporate, Institutional, SME and payroll ecosystem segments over the last eight years, most recently as General Manager, Commercial Growth. Prior to joining Sunsuper, she was a Senior Consultant at Rice Warner. In her new role, she will be responsible for MLC Super’s employer growth and retention strategy, institutional partnerships, distribution channels and employer value proposition across corporate and SME segments.

Dave Woodall, CEO MLC Super, said the appointments further strengthened the Fund’s leadership capability across two critical areas of focus.

“I’m delighted to welcome Lisa to the team and look forward to welcoming Nerique in January. These are two newly created roles, and both are central to the growth and momentum of our business,” said Mr Woodall.

“Lisa brings a proven track record in leading complex transformation in highly regulated environments, and her experience in transformation delivery, governance and strategic execution will help MLC Super maintain momentum across our delivery agenda and turn our priorities into meaningful outcomes for our members.”

“Nerique joins us with deep experience in employer superannuation, superannuation mergers and transitions, client retention, corporate growth and strategic partnerships. She has built her career helping superannuation funds grow through strong employer relationships and innovative growth initiatives, and will play an important role in strengthening our position in the employer market.”

“Together, Lisa and Nerique bring complementary strengths across delivery and growth, further strengthening our leadership team and best positioning us to continue delivering for our members,” Mr Woodall said.

Ms Croudace said she was excited to be joining the business at a pivotal time.

“I’m genuinely excited to be joining MLC Super at such a pivotal time. We have a strong commitment to delivering better member outcomes and clear momentum towards our vision for the future.”

“My role is to help bring that vision to life through disciplined delivery, ensuring we focus on the initiatives that will have the greatest impact,” she said.

Ms Paterson said the opportunity to help shape MLC Super’s next phase of growth was what attracted her to the role.

“The employer super market is evolving rapidly and there is a real opportunity to help more Australians engage with and get value from their superannuation,” she said.

“I’m looking forward to working with employers, partners and colleagues across the business to strengthen MLC Super’s employer value proposition in the market and build on the strong foundations already in place.”

These appointments build on MLC Super’s existing leadership team members: Amalie White (General Manager, Operations and Partnerships), Craig Weber (Head of Education and Advice), Jason Marler (General Manager, Master Trust Product) and Lachlan East (General Manager, Risk).

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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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Jason Marler

MLC Super Fund has announced a significant reduction in the administration fees for the majority of members in its flagship superannuation and pension products, MLC MasterKey and Plum.

From 1 October 2024, headline administration fees for members in accumulation products will be halved from 0.30% to 0.15% per annum.

Administration fees for Plum Retirement Income and MLC MasterKey Pension Fundamentals members will be reduced from a maximum of 0.30% to 0.10% per annum.

Fee caps for Plum Retirement Income members will decrease from $2,500 to $800 per annum. From 1 April 2025, fee caps for MLC MasterKey Pension Fundamentals members will also drop to $800, and fee caps for MLC MasterKey Super Fundamentals will reduce from $2,500 to $1,000 per annum.

Additionally, a flat fee of $78 per annum will be consistently applied across all products in addition to the percentage fee.

As a result of these changes, most members will see their administration fees reduced by nearly $100 per annum. For superannuation members with an accumulation account balance of $250,000, they will see an average saving of $375 per year.

The investment fees and costs for the majority of the ready-made investment options are also reducing on 1 October 2024. For the MLC MySuper option, the total investment fees and costs will reduce by 0.10% p.a. from 0.91% p.a. to 0.81% p.a.

According to Jason Marler, General Manager Workplace Solutions, these changes will make fees simpler and more consistent for members.

“As the largest payer of pensions outside of the Government, we’re committed to providing better retirement outcomes for our members.

“We’re pleased to leverage our combined scale to significantly reduce administration fees associated with managing members’ superannuation. Effective 1 October, these changes allow members to benefit from simpler, more competitive fees that deliver better value at a time where cost of living pressures are affecting many.

“This fee reduction, combined with our MySuper portfolio’s consistent top quartile performance over 1, 3 and 5 years^[1], means members will receive even greater value for their retirement savings.

“We’re proud of our track record of strong performance, with MLC MySuper Growth portfolio in the top 10 MySuper funds for FY24 as reported by SuperRatings,” said Mr Marler.

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Notes:
[1] SuperRatings Fund Crediting Rate Survey, SR50 MySuper. Jun 2024

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