Financial Report MLC Super Fund Abridged Financial Information – Statement of changes in member benefits For the year ended 30 June 2023 Defined Defined Contribution Benefit Members Members Total $m $m $m Opening balance of member benefits as at 1 July 2022 73,681 3,554 77,235 Contributions: Employers 4 ,059 196 4,255 Member 893 4 897 Transfer from other superannuation plans 1 ,464 4 1,468 Successor fund transfer out (2) (26) (28) Transfer to other superannuation plans (4,609) (43) ( 4,652) Income tax on contributions ( 517) (21) (538) Net after tax contributions 1 ,288 114 1,402 Benefits to members/beneficiaries (2,790) (190) ( 2,980) Insurance premiums charged to members' accounts ( 710) ( 4) (714) Death and disability benefits credited to members' accounts 390 3 393 Reserves transferred to/(from) members' accounts Defined benefit that are over/ (under) funded - (286) (286) Administration reserve (1) - ( 1) General reserve (7) - ( 7) Other reserves (12) - (12) Benefits allocated to members' accounts comprising: Net investment income 6 ,249 6,249 - Administration fees ( 289) ( 4) (293) Net change in defined benefit member benefits 129 129 - Closing balance of member benefits as at 30 June 2023 7 7,799 3 ,316 8 1,115 Opening balance of member benefits as at 1 July 2021 78,864 3,723 82,587 Contributions: Employer 3 ,717 8 4 3,801 Member 1 ,121 8 1,129 Transfer from other superannuation plans 1 ,292 7 1,299 Transfer to other superannuation plans (4,421) (113) ( 4,534) Income tax on contributions ( 481) ( 9) (490) Net after tax contributions 1 ,228 (23) 1,205 Benefits to members/beneficiaries (3,857) (127) ( 3,984) Insurance premiums charged to members' accounts ( 684) ( 2) (686) Death and disability benefits credited to members' accounts 347 1 348 Transfers of funds from DB member benefits - - - Reserves transferred to/(from) members' accounts Defined benefit that are over/ (under) funded - 382 382 Administration reserve 1 - 1 Other reserves (12) - (12) Benefits allocated to members' accounts comprising: Net investment income (1,894) ( 1,894) - Administration fees ( 312) ( 5) (317) Net change in defined benefit member benefits (395) (395) - Closing balance of member benefits as at 30 June 2022 73,681 3,554 77,235 20 | MLC Super Fund 2023 Annual Report