The savings component of the retirement boost was opened to a small, targeted group of advice practices in August of 2025. This was followed by a phased soft launch to all investors in November 2025, before the launch of the solution’s income phase in March 2026. According to MLC, the new retirement boost ‘innovative retirement income stream’ (IRIS) can provide up to 60 per cent more income in retirement when complemented by traditional products such as an account-based pension.
The solution has two phases, including:
- The “Super” phase, which operates like a standard superannuation account, while “potentially enabling clients to access means test concessions for the Government Age Pension, and
- The “Pension” phase, designed to deliver retirement income for life, according to MLC.
“This is a significant milestone for MLC Expand and shows the demand we’re seeing from financial advisers for MLC Retirement Boost,” MLC Expand chief executive Liz McCarthy said.
“The way that Australians think about retirement is changing and the demand for this solution is a testament to that.
“People want more personalisation and flexibility in their retirement planning and MLC retirement boost gives them this, while increasing the potential of super for more people and potentially creating higher retirement income, from their first super contribution.”
MLC Expand added that a key part of the company’s partnership with TAL and Challenger in developing the retirement boost was the establishment of a ‘Centre of Excellence.’
“A gateway for advisers, the Centre of Excellence provides access to expert technical insights, case studies, information and client support tools and calculators, and dedicated support to help advisers unlock the full potential of MLC Retirement Boost and elevate the value of their retirement advice,” MLC Expand said.
MLC director, retirement and innovation Ashton Jones stated the feedback they had received from advisers was “overwhelmingly positive”, saying that advisers appreciated the client-centric education approach.
“We knew the solution, coupled with our innovative partnership with TAL and Challenger, would be of interest to advisers but the response only a few months in has been really exciting.
“Importantly, this is still just the first phase in MLC’s offering in this space and we’re excited for further retirement innovations over the next 12-18 months.”
