On 1 July 2016 the NAB Group successfully transferred five of our super funds into one new fund called the MLC Super Fund, on a successor fund transfer basis.
The MLC Super Fund is operated under the governance of another trustee in the NAB Group, NULIS Nominees (Australia) Limited. Consolidating our super funds streamlines our business and creates the scale to allow us to become more efficient, easy to deal with and deliver even more value to our members.
Please note, this website contains some information that was issued by or on behalf of PFS Nominees Pty Limited in relation to the Plum Superannuation Fund, one of the super funds that transferred into the MLC Super Fund. We have retained this information as it remains useful in assisting members with their superannuation journey.
Successor Fund Transfer (SFT) has occurred
On 1 July, Plum Superannuation Fund accounts were transferred to a new super fund called the MLC Super Fund, under the governance of another trustee in the NAB Group, NULIS Nominees (Australia) Limited.
The transfer occurred in preparation for the NAB Group to sell 80% of its life insurance business (MLC Limited) to Nippon Life Insurance Company (Nippon Life) which completed on 3 October 2016. Some of NAB Group’s superannuation funds (including the BHP Billiton Superannuation Fund) which invested through MLC Limited, transferred their underlying investments away from being held through MLC Limited, and instead to be held more directly in a new fund within the NAB Group, the MLC Super Fund. This occurred by way of a ‘successor fund transfer’ on 1 July 2016.
Importantly, NAB retains ownership of 20% of the new life insurance business, MLC Life Insurance, and full ownership of the existing investments business which includes superannuation, platforms, advice and asset management.
A Product Disclosure Statement (PDS) summarising the features and terms of your account is available for all members transferred to the MLC Super Fund on 1 July 2016.
To access your PDS, please log into your account here with your member number and password and you’ll find the documents within the ‘Forms and Publications’ tab under the heading ‘Product Disclosure Statement for members transferred to the MLC Super Fund on 1 July 2016’.
Alternatively, to receive a copy of your PDS by email or post, please call us on 1300 55 7586 between 8am and 7pm AEST (8pm daylight saving time), Monday to Friday.
Bank Account Changes
Members of funds transferred to the MLC Super Fund on 1 July 2016 and who make payments or contributions by Direct Debit or Bpay will notice a different payee/biller name on their bank statement. This is because the MLC Super Fund is operated under the governance of a different NAB Group trustee, NULIS Nominees (Australia) Limited.
Direct Debit or Bpay payments or contributions made to the previous funds will be redirected automatically to NULIS Nominees (Australia) Limited and there is nothing you need to do as a result of this change.