TelstraSuper Superannuation

TelstraSuper is a subsidiary of Telstra Corporation Limited.

TelstraSuper offers a choice of 15 investment options at the time of writing. It offers investment options including diversified options, single asset class options, a self-managed option and a MySuper option, and is authorised to accept employer contributions. 

As well as offering flexibility to invest your money in single assets such as Australian shares, international shares, property, fixed interest and cash, TelstraSuper also offers the choice for members to invest in super directly in ASX300 companies and a range of ETFs and term deposits. 

You can choose to invest in one option or a combination of options. You can also switch investment options at any time, according to TelstraSuper.

If you don’t make a decision as to how your money will be invested, TelstraSuper says members will be invested into TelstraSuper’s MySuper product by default. 

For more details on what each TelstraSuper investment option entails, you can contact TelstraSuper or read the PDS and other documentation on its website.

TelstraSuper says it considers environmental, social and corporate governance (ESG) factors for the lifetime of all its investments. It has a Climate Change Action Plan and has signed the Australian Asset Owner Stewardship Code.

TelstraSuper says it takes an “active ownership position” in companies it invests in, voting on decisions at their company meetings. It engages with companies about challenges such as modern slavery and human rights in the supply chain, worker and customer safety, employee remuneration policies, climate risk and gender diversity. It negatively screens tobacco investments and some controversial weapons, and positively screens sustainable energy projects.

TelstraSuper members invested in its Direct Access product can invest in a number of ethically-focussed ETFs.

TelstraSuper charges a variety of fees to its members in return for managing their superannuation savings. At the time of writing, some of its fees include:

• Administration fees. For example, TelstraSuper Personal Plus has an admin fee of $1.00 per week, and a 0.17% per annum (p.a.) indirect administration fee, at the time of writing. The dollar-based fee is deducted from your account at the end of each quarter or when you leave the Fund. The percentage-based fee is deducted in the calculation of unit prices daily.
• Investment fees,  including  management fees, any applicable performance fees charged by investment managers and custodian fees. These fees also include indirect investment costs. TelstraSuper Personal Plus, for example, has investment fees and costs of 0.77% p.a. for MySuper Growth, 0.75% p.a. for MySuper Balanced and 0.50% p.a. for MySuper Conservative at the time of writing. These fees are deducted in calculation of unit prices daily.
• Transaction costs. For example, TelstraSuper Personal Plus has different transaction costs based on different investment stages. At the time of writing, these costs are 0.07% p.a. for MySuper Growth, 0.06% p.a. for MySuper Balanced and 0.04% p.a. for MySuper Conservative. These fees are deducted in calculation of unit prices daily.
• Other fees and costs may apply, such as activity fees, advice fees for personal advice or insurance fees. TelstraSuper says these details may be founds in the Additional Information About Your Super guide on their website. These fees and cost deductions will depend on the activity undertaken and may be deducted from the account or paid directly.

TelstraSuper says it does not charge switching fees for changing your investment options. However, a buy/sell spread may apply. TelstraSuper also notes that there is a fee cap too if you have a lower account balance.

Consider checking the PDS for a TelstraSuper product for more information. You can also compare the annual fees for TelstraSuper’s default investment option to other super funds’ fees on Canstar’s database.

Can I consolidate my super with TelstraSuper?

TelstraSuper says you can consolidate your super online or using a ‘Consolidate your super’ form that’s provided on its website.

It’s important to check with your current super fund(s) for information regarding any related costs you may incur and any insurance cover you may lose if you switch super funds. Also consider whether consolidating your super is a suitable decision for your life stage and retirement goals.

To help you stay on top of your super, it may be beneficial to check your regular super statement closely. Here are some of the factors that could be worth paying attention to:

• Are your personal details up-to-date?
• Are your nominated beneficiaries up-to-date?
• Is your Tax File Number (TFN) correctly recorded?
• Are the super contributions from your employer and/or your voluntary contributions correct?
• Are your investment asset class choices appropriate for your life stage?
• Are you happy with the amount you’re paying in fees?
• Is your insurance still adequate for your needs?
• Have you decided whether to consolidate your super, after checking whether there is insurance or any other benefits attached to the account you may lose and if you’re comfortable to do so?
• The big picture – are you happy with your super fund overall?

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TelstraSuper was established in 1990. It has $24 billion in assets invested on behalf of members, as at November 2022.