MLC Expand’s Retirement Boost solution has surpassed $500 million in funds under management less than two months after launching both its savings and retirement income phases, as demand for innovative retirement income stream products accelerates among advisers and retirees.
The platform provider said MLC Retirement Boost had become the fastest-growing innovative retirement income stream (IRIS) solution on MLC Expand, which manages more than $100 billion in funds under management and administration (FUMA).
The savings component of the product was initially opened to a limited group of advice practices in August 2025 before expanding to all existing MLC Expand advisers in November 2025 then the retirement income phase subsequently launched in March 2026.
According to the firm, the solution can provide up to 60 per cent more retirement income when used alongside traditional retirement products such as account-based pensions.
MLC Expand chief executive, Liz McCarthy, said the milestone reflects strong adviser demand for retirement income products offering greater flexibility and personalisation.
“This is a significant milestone for MLC Expand and shows the demand we’re seeing from financial advisers for MLC Retirement Boost,” 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.”
The product has two phases, including a superannuation component designed to potentially improve Age Pension means test outcomes and a pension phase intended to deliver lifetime retirement income.
MLC said the solution was developed in partnership with TAL and Challenger, with the firms also establishing a Centre of Excellence aimed at helping advisers implement retirement income strategies through technical support, case studies and modelling tools.
MLC director of retirement innovation, Ashton Jones, said adviser feedback had been positive since launch.
“The feedback from advisers has been overwhelmingly positive, and advisers have appreciated the client-centric education approach we’ve taken when rolling out this solution and the way it is seamlessly integrated within MLC Expand,” Jones said.
“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.”
