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MLC Questions & Answers

1.3 from 102 reviews

6 questions from our users



What are your fees on $600.000. and your returns for the last 5 years please

No answers

Pat H.

Pat H.asked

Has anyone had any success claiming back their principle investment with mlc master key super?

No answers

Nick P.

Nick P.asked

Looking to change super funds sick of MLC

No answers

Diana Z

Diana Zasked

my super portfolio is with MLC Until the end of last year I had a financial adviser but, because the fund was doing so poorly I switched her off now she had written me a letter telling me to take my portfolio somewhere else
This will crystalise my loss and I will have to pay new fees to my new financial adviser.
My adviser told me I should leave it where it is and now she tells me I have to take it somewhere else.
Can she Make me take it somewhere else or can I just leave it there with her switched off?
Many thanks Diana

1 answer
Digital D.
Digital D.

Hi - move your super and just drop the advisor. I mover from MLC late last year to sunsuper who have free financial advise.



I am with a financial advisor who has said to put money in Mlc fundamentals super. I am considering aust super over Mlc due to fees performance and then on top advisor fees. What is your birws.

2 answers

Definitely not. The worst customer service department that I've ever dealt with. Fees and time to process withdrawals are well in excess of other companies. They have no lnterest in assisting their so called CUSTOMERS!


DO NOT put one cent of your money with MLC. Ever. They are a legalised racket. Customer service is absolutely appalling in that there is none. You can't get an answer to a valid enquiry, you are made to feel stupid when you don't understand their policy in taking your money and rudely talked over. I am very disappointed that the NAB has aligned itself with this deceitful, dishonest & immoral company "a subsidiary of Nippon Life Insurance Company". I wish I had never signed up with the snake oil salesman that got me into this decades ago & now I wish to withdraw I can find NO information on exit fees anywhere online but certainly not in plain sight.



Are MLC investments a good idea?

5 answers

Well personally I would not recommend using them. They have poor support and this shows that they lack the capabilities to provide good financial advises because they simply do not care about you.
No support nor follow up for my situation. Just pushing the issue around without solving it and so I am back to the same spot.

I definitely would never have gone with them if I knew what they were going to put me through.


I have not invested with MLC yet, but I will through a financial planner. Hopefully any issues I have can be sorted out by the financial planner.


No they are the worst super company or should i say worst company in general. Mlc have takin 90% of my employers super contributions which were high premimums and fees, to which i never asked for, might i add that when i signed up to Mailcall Couriers ( Worst Courier company ) i nominated my super to go to BT super for life ( Which is the best company ever ) my super at BT doubled in one year. MLC are so bad they deserve to be written off verbally by word of mouth ! Spread the word and stay clear.

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