MLC’s IRIS solution tops $500m in two months

Binaya Dahal

Journalist

20 May 2026

MLC Expand’s newly launched innovative retirement income stream (IRIS) solution, MLC Retirement Boost, has surpassed $500 million within two months of its gradual rollout across its savings and retirement income phases.

The $100 billion superannuation and retirement platform said on Tuesday that its product, which was initially made available to a small group of advice practices and opened fully in March this year, has hit the milestone to become one of the country’s fastest-growing IRIS apparatuses.

The firm claims the two-phase structured solution, comprised of superannuation and pension, can deliver up to 60% higher retirement income when used alongside traditional products such as an account-based pension.

MLC Expand chief executive Liz McCarthy said the milestone reflected strong adviser demand and a shift in how Australians are approaching retirement income planning and flexibility.

“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,” she said.

The solution, which was borne out of a partnership with TAL and Challenger, also led to the creation of a Centre of Excellence, a dedicated hub for financial advisers offering expert technical insights, case studies, information, client support tools, and calculators.

MLC’s director of retirement innovation Ashton Jones said adviser feedback has been strongly positive, particularly around the platform’s education-led approach and integration within MLC Expand systems.

“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 very encouraging,” Jones said.

“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.”