The trustee of Macquarie Superannuation Plan (MSP) and Definitive Superannuation Plan (DSP), Macquarie Investment Management Limited (the Trustee) is now required to annually assess and compare the quality and competitiveness of its superannuation and pension products. This is a new regulatory requirement that was legislated in 2019.
The Trustee has recently completed its first member outcomes assessment for the Macquarie Superannuation Plan and Definitive Superannuation Plan for the period 1 December 2019 to 30 November 2020 – this assessment covers the following superannuation and pension products (collectively, ‘the products’):
Macquarie Superannuation Plan
- Super and Pension Manager II
- Super and Pension Consolidator II (Engage and Elevate investment menus)
- Super and Pension Consolidator*, including the following branded products
a) Vision Super and Pension
- Super and Pension Manager*, including the following branded products
a) Private Portfolio Solution Super Account*
b) Private Portfolio Solution Pension Account*
c) Premium Super Online*
d) Premium Pension Online*
e) Gateway Super and Pension Service*
f) Premium Portfolio Service Super Account*
g) Premium Portfolio Service Pension Account*
- Super Accumulator*
- Term Allocated Pension Manager*
Definitive Superannuation Plan
- Definitive Super Account*
- Definitive Pension Account*
* Note these products are closed to new members.
These are choice platform products that are only available for members who choose the relevant product. There are no members who default into a MIML product and so there are no MySuper members.
Following the completion of this assessment, the Trustee has determined that for the products listed, it is promoting the financial interests of members – this document summarises the results of the Trustee’s assessment.