MLC members accessed a record $10.3 million in pension bonus payments in 2025, as the fund pointed to rising demand from Australians entering retirement.
The fund said its superannuation members received the payments through its 1.25 per cent tax-free pension bonus, which it described as an industry-leading offer automatically applied at retirement. Based on a super balance of $500,000, that equates to a bonus payment of $6,250.
According to MLC, pension bonus payments averaged $6,199 per member in 2025, while some members received payouts of up to $25,000. The fund also said it had the highest Pension Bonus rate in the industry at 1.25 per cent.
MLC Super CEO, Dave Woodall, said the benefit was gaining traction as Australia’s retiree cohort expanded.
“With more than three million Australians set to retire in the next decade, we expect more people will start to look at the MLC Super Pension Bonus as a great way to get their next phase of life off to a flying start.
“Not all superannuation funds currently offer a Pension Bonus, but at MLC, we’re definitely seeing the demand for our Pension Bonus increase as a record number of Australians enter retirement age. After years of accumulation, the Pension Bonus is in effect, a tax saving we pass onto our MLC Super members when they retire.
“We know that retirement is a lifetime in the making. Our members have worked throughout their lives to build up their retirement nest egg, so it’s important for us to pass on these tax savings to them – it is their money after all.
“We also believe that all of our members, no matter their balance, should have access to this benefit, which is why we have no minimum account balance and no caps on our payouts.”
