Introducing our new CEO of Superannuation, Dave Woodall

Welcome to your final edition of Employer News for 2024. My name is Dave Woodall, and I’m excited to be writing to you as the new CEO of Superannuation at Insignia Financial.

At a time when Australians are increasingly relying on their superannuation to secure a comfortable retirement, we fully recognise the critical importance of delivering innovative solutions and exceptional superannuation and retirement products. Our commitment is to support both your organization and your employees as we work together to build a brighter future for all.

As we approach the end of the year, I wanted to take a moment to express my gratitude for the trust you and your organisation have placed in us. This partnership is incredibly important to us, and we are honoured to have the opportunity to help secure the retirement futures of your people.
 

Strong investment returns for your employees

MLC’s MySuper Growth Portfolio – where the majority of our MySuper members are invested – most recently delivered a strong, double-digit 13.1% return for the 12-months to 30 September 2024.¹

The Portfolio also ranked in the top 10 performers over the 3 and 5-year periods to 30 September 2024, as reported by SuperRatings.² These results are great news for our members, helping them work towards financial wellbeing in retirement. View the latest MLC MySuper investment returns here.

Members in our ready-made portfolios also enjoyed strong returns for the 12-months ending 30 September 2024, ranging from 8.8% for the MLC Stable option; a strong 16.9% return for the MLC High Growth option; and a return of 23.1% for the MLC Aggressive option. Compare the performance of our different investment options here.
 

Responsible investment

Many of our members look for investments that consider Environmental, Social and Governance (ESG) factors. The MLC Socially Responsible Growth option is a diversified investment option managed by our investment experts in a way that considers relevant ESG factors.

It aims to generate long-term returns above inflation for members who wish to be invested in a way that does not expose them to certain business activities which may conflict with their personal values.

The MLC Socially Responsible Growth option delivered a strong 18.6%³ return for the 12 months to 30 September 2024, notably outperforming its competitors in the high-growth socially responsible investment segment.⁴ This reflects the effectiveness of the option’s strategy and commitment to generating long-term returns while adhering to socially responsible principles.

Learn more about the MLC Socially Responsible Growth option. You can also find more information on our responsible investment policy here.
 

Helping your employees keep track of their finances

This year we launched a new digital tool, MLC Money View.

MLC Money View is an easy way for your employees to understand their current situation and get a projection of their financial future. Members simply drop in their personal and financial details and the secure tool will build a customised dashboard that can help them understand:

• What their home or investment property are worth
• What their goals are and if they are on track to achieve them
• How their budget is shaping up
• If they’ll have enough in retirement
• If they have the right level of insurance

Access the MLC Money View today.
 

Helping your employees start retirement with a bonus

We’ve implemented a Pension Bonus that passes on the fund’s tax savings as a payment to eligible members transferring from their MLC MasterKey Super⁵ or Plum Super account into a new MLC retirement pension account (MLC MasterKey Pension Fundamentals). Other eligibility criteria also apply.

During the year, the MLC Pension Bonus rate reached 1.25% (as at 1 July 2024) – the highest it has ever been!

We're also proud to say that our MLC MasterKey Pension Fundamentals has been recognised as a platinum pension product by SuperRatings 10-years in a row (2014-2024)⁶.

Our award-winning financial coaches can chat to your employees to check their eligibility for the Pension Bonus. Book an appointment.
 

Making it easier for your employees to make the most of their money

We recently launched our SuperFit program. These short practical guides are designed to help your employees shape up their super and bulk up their knowledge.

Shape Up – Members can start their 50s off on the right foot by using this guide to get the basics right and sort their super in 5 days.

Make a Move – Helping members to understand options and benefits available from age 60, so they can feel confident about retirement.
 

Helping your employees keep their super and investments secure online

Financial scams are on the rise and becoming increasingly sophisticated, making them harder to spot. Our new cyber security resource centre covers common types of scams, essential guidance to help members recognise them, along with practical tips to protect themselves and their loved ones.

Go to mlc.com.au/cyber-security to learn more.

Think you might be facing a scam? Share this link with your employees to learn the steps to take immediately.
 

MLC Asset Management spotlight on implications of Trump election on Markets

Our MLC Asset Management Team has prepared a special update relating to implications of the Trump US Election win on markets. You can read the full article here.
 

Insignia Financial partners with SS&C

I wanted to share an exciting update regarding our Master Trust business, which was announced to market on Tuesday 10 December. Insignia Financial has entered into an Initial Agreement, with SS&C Technologies (SS&C), a global technology leader, which is intended to simplify and transform our Master Trust business.

Subject to signing a final binding agreement in the form of a Master Services Agreement, Insignia Financial will subcontract a range of administration and technology functions for the Master Trust business to SS&C. It is intended that this arrangement will include the transition of people, technology and premises from Insignia Financial to SS&C. A final binding agreement is expected to be completed during Q1 2025 with the transition phase to be completed mid-2025. View the ASX announcement here.

We’ve been reviewing our Master Trust operating model for a while now, exploring ways to simplify our business model so we can continue to deliver competitive products and services to your business and employees. By partnering with SS&C, we can accelerate the speed with which we can simplify our business, helping to ensure we keep fees and costs competitive for your business and employees.

Over time this partnership will give us access to enhanced scalability, and cutting-edge technology, providing faster, more efficient services for your employees. Additionally, SS&C’s global expertise and focus on innovation will help us deliver better solutions and long-term stability for your employees' retirement plans.
 

Looking Ahead into 2025

As we look ahead to 2025, I want to share that we are in the process of developing our next strategic plan, one that aims to enhance how we serve our customers, both now and in the future. We remain committed to delivering the best outcomes for your staff and exploring new ways to improve and grow our service offerings.

Moving forward, we will continue to focus on providing exceptional service, fostering continuous improvement, and adapting our solutions to meet the evolving needs of your business and your employees. Rest assured; we are here to support you every step of the way.
 

Seasons Greetings and Happy New Year

On behalf of the entire team at Insignia Financial, I extend our sincere gratitude for your continued partnership.

I wish you and your team a wonderful festive season and a prosperous new year. I hope you get the opportunity to switch off and spend some time with your friends and family. The new year will be a big and exciting one for our business, and I look forward to working closely with you.
 

Warm regards,
Dave Woodall
CEO, Superannuation