MLC

Plum Retirement Income

Past 5-year return
4.96%
Admin fee

$0

Calc fees on 50k

$620

SuperRatings awards
Past 5-year return
4.96%
Admin fee

$0

Calc fees on 50k

$620

SuperRatings awards

MICHAEL KIANG

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7 Reviews

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Pros and Cons

Pros and Cons

  • Support: Plum Retirement Income offers access to phone-based help, online education, an electronic application process, and six monthly member statements which provides a level of assurance for members to make retirement decisions.
  • Transition to retirement and Account based pension product: Plum Retirement Income allows members to transition to retirement via the Self Select Investment Path.

Summary

Plum Retirement Income is part of the MLC Super Fund and is available exclusively to Plum Super members who have met an applicable condition of release. Plum Retirement Income was launched in November 2016, with a minimum initial balance of $50,000 required to commence membership.Plum Retirement Income offers a choice of two different Investment Paths to suit varying levels of involvement and investment knowledge, the Cultivator Investment Path and the Self Select Investment Path. The Cultivator Investment Path is an automated investment and income payment strategy, while the Self Select Investment Path lets members choose from the five investment options to suit personal needs and tolerance for investment risk. The Plum Active - Moderate option outperformed the relevant SuperRatings Index over the year to 30 June 2019.Fees are lower than the industry average across small and medium account balances assessed with a cap on the administration fee at $2,500 pa. The fund does not charge an investment switching fee, although a buy-sell spread may apply.Plum Retirement Income offers good pension flexibility, with members able to select from weekly through to annual payment frequencies. Members with more than one investment option can nominate the proportion of payments to be drawn from each option. Members can also select from reversionary pensions, binding death nomination and non-binding lump sum death benefits.Additional benefits available include access to free scaled advice, full financial planning services, high quality educational programs, interactive tools and calculators, as well as the ability to view account details and perform transactions online.

Features and Fees

MLC Fees and Features

    Pros and Cons

    • Support: Plum Retirement Income offers access to phone-based help, online education, an electronic application process, and six monthly member statements which provides a level of assurance for members to make retirement decisions.
    • Transition to retirement and Account based pension product: Plum Retirement Income allows members to transition to retirement via the Self Select Investment Path.

    Plum Retirement Income is part of the MLC Super Fund and is available exclusively to Plum Super members who have met an applicable condition of release. Plum Retirement Income was launched in November 2016, with a minimum initial balance of $50,000 required to commence membership.Plum Retirement Income offers a choice of two different Investment Paths to suit varying levels of involvement and investment knowledge, the Cultivator Investment Path and the Self Select Investment Path. The Cultivator Investment Path is an automated investment and income payment strategy, while the Self Select Investment Path lets members choose from the five investment options to suit personal needs and tolerance for investment risk. The Plum Active - Moderate option outperformed the relevant SuperRatings Index over the year to 30 June 2019.Fees are lower than the industry average across small and medium account balances assessed with a cap on the administration fee at $2,500 pa. The fund does not charge an investment switching fee, although a buy-sell spread may apply.Plum Retirement Income offers good pension flexibility, with members able to select from weekly through to annual payment frequencies. Members with more than one investment option can nominate the proportion of payments to be drawn from each option. Members can also select from reversionary pensions, binding death nomination and non-binding lump sum death benefits.Additional benefits available include access to free scaled advice, full financial planning services, high quality educational programs, interactive tools and calculators, as well as the ability to view account details and perform transactions online.

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    MLC Fees and Features

      Fund fees vs. Industry average
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      Fund past-5-year return vs. Industry average
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