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NAB gets MySuper go ahead

National Australia Bank's (NAB's) two MySuper options have been given approval by the Australian Prudential Regulation Authority (APRA).

The MLC My super and Plum MySuper products will both provide a single diversified investment strategy aimed at maximising retirement outcomes for default members.

“Our MySuper offers are fully integrated with the more than 40 investment options available on our corporate super products to give members more choice when it comes to their retirement,” said NAB executive general manager for corporate and institutional wealth, Paul Carter.

“Members whose superannuation savings are in MLC MySuper and Plum MySuper will also continue to have access to the other features that make our corporate super products among the best in the market.

“Among these features are member advice services, from superannuation and investment education programs to financial advice; online support; MLC Member Rewards; and the innovative Best Doctors medical assistance service.”

Both options will feature tailored workplace insurance or a life-stage investment offer to provide members with appropriate cover based on age.

MLC MySuper and Plum MySuper will be available towards the end of the year.