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MLC launches new pension products

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By Reporter
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2 minute read

MLC has added to its retirement strategy offerings.

MLC has bolstered its retirement strategy offerings with the launch of two new pension products.

MLC MasterKey Pension Fundamentals and MLC MasterKey Pension have been launched in line with the new pension income rules.

They are the third and final addition to the group's fee for service offering, MLC MasterKey Pension Fundamentals.

"Transition to retirement strategies are going to be one of the biggest focus areas for financial advisers in the next few years and we have built our new pension products to facilitate financial planning strategies around this," MLC Platforms general manager Anthony Waldron said.

MLC's fee for service fundamentals range of products have no asset based commissions built into the administration fee, enabling advisers to charge an explicit adviser service fee which is agreed with their clients and separately disclosed on annual statements.

MLC MasterKey Pension Fundamentals will join MLC's existing suite of fee for service offers including MLC MasterKey Super Fundamentals and MLC MasterKey Investment Service Fundamentals.

More than 40 per cent of new business written with MLC today is on a fee for service basis.

Both pension products will be available from July 2007.