MLC has reduced fees for its MasterKey Investment Protection product, offering customers a lower cost option for retirement funds management.
The fee reduction addresses concerns revealed in a recent MLC Investment Trends survey which found that when it comes to retirement savings, individuals believe they are “least prepared” for outliving their pension income and falls in financial markets.
“People saving for retirement are faced with the unique challenge of having to maintain an investment in growth assets in order to build sufficient savings, and convert these savings into an income stream to last their lifetime,” MLC's general manager for retirement solutions, Andrew Barnett, said.
“This all has to be balanced with managing their exposure to market risks.
“We’re pleased to be able to reduce the cost of MLC MasterKey Investment protection for people saving for or already in retirement, so they can invest for growth while protecting their retirement savings or income.”
The MLC MasterKey Investment Protection allows customers to, say, invest in growth assets as well as protect their superannuation from market downturns.
The product is designed for individuals over 50 with accumulated savings of between $30,000 and $2 million.
The reduction in fees applies both to protect capital and income for new customers and is already in effect.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 29 Jun 2017CPA advice arm fuels liability concernsBy Katarina Taurian
- 29 Jun 2017ASIC takes IFA crackdown a step furtherBy Aleks Vickovich
- 28 Jun 2017Treasury reveals details of new ASIC powersBy Staff Reporter
- 28 Jun 2017Fintech take-up doubles in AustraliaBy Tim Stewart
- 28 Jun 2017ASIC disqualifies SMSF auditorBy Staff Reporter
- 28 Jun 2017Advisers look to working on-the-go: BTBy Staff Reporter
- view all