TelstraSuper Superannuation

Telstra-Super

TelstraSuper is an industry super fund. Membership is open to current and former employees of the Telstra Group and Telstra-approved employers such as Telstra stores, as well as eligible family members and friends.

Types of TelstraSuper super accounts

TelstraSuper Personal Plus

TelstraSuper Personal Plus includes three age-based investment stages. Based on your age, you’ll be allocated to the investment stage of MySuper Growth if you are under 45, MySuper Balanced if you are 45 to under 65 or MySuper Conservative if you are aged 65 or over.

TelstraSuper Corporate Plus

TelstraSuper Corporate Plus is designed for employees of the Telstra Group and Telstra-approved employers. TelstraSuper says it offers a “low-cost, value-for-money super arrangement with extensive TelstraSuper membership benefits”.

TelstraSuper Defined Benefit

TelstraSuper Defined Benefits is a super product that offers a fee-free defined benefit, as well as different benefits and services available through TelstraSuper, such as access to TelstraSuper’s SuperOnline portal, and flexibility to invest either conservatively or aggressively across a range of investment options.

Direct Access

TelstraSuper’s online platform for self-managed investing is known as ‘Direct Access’. TelstraSuper says it offers freedom and convenience, giving members the chance to invest directly in ASX 300 companies, term deposits and selected exchange-traded funds (ETFs), including up to four ethical options at the time of writing. Real-time investing is available through the company’s SuperOnline platform.

TelstraSuper MySuper

MySuper is a default superannuation product that TelstraSuper says “aims to improve the retirement outcomes” of members who haven’t made an investment choice yet for their super. It is available with a lifecycle investment strategy in the TelstraSuper Corporate Plus and TelstraSuper Personal Plus offerings.

TelstraSuper also offers members features such as:

  • insurance cover. For example, TelstraSuper Personal Plus offers flexible death and total and permanent disability (TPD) cover, as well as the option to apply for income protection. As with any insurance product, consider checking the cover amount, any exclusions, limitations or other conditions that may apply, as well as the premiums you would be charged before deciding whether it suits your needs.
  • online access, using the TelstraSuper SuperOnline portal. 
  • mobile access, with a TelstraSuper app available from the App Store or Google Play.

Compare Super Funds

How to join TelstraSuper

Before committing to a particular fund, consider comparing your options with Canstar and checking out our choosing a super fund checklist. You can read the applicable TelstraSuper Product Disclosure Statement (PDS), and related statements and guides – such as the Investment Guide, Insurance Guide and Target Market Determination – to decide if a particular product is suitable for your needs.

If you decide to join TelstraSuper, you can contact the fund by filling in its online contact form or over the phone.

You must be a current or former employee of the Telstra Group or an eligible family member.

Finally, remember to tell your employer that you’ve joined TelstraSuper. Your employer should give you a Superannuation Standard Choice Form to fill out, sign and return to them.

Compare Super Funds

TelstraSuper FAQs

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 $1.50 per week, and a 0.18% per annum (p.a.) indirect administration fee, at the time of writing.
  • 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 that range from 0.50% p.a. to 0.84% p.a. Based on different investment stages, at the time of writing.

TelstraSuper says it does not charge switching fees for changing your investment options. However, a buy/sell spread may apply. TelstraSuper also says that other fees and costs, such as activity fees, advice fees for personal advice or insurance fees can apply. It has 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.

TelstraSuper says you can consolidate your super online or using a ‘Consolidate your super’ form that’s provided on its website. To be eligible to consolidate online, it says you need to have joined the fund before March 2020, have a super balance greater than $0 and have a Tax File Number (TFN) on record.

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?

Compare Super Funds

TelstraSuper was established in 1990. It has $23 billion in assets invested on behalf of members, as at November 2021.

This content was reviewed by Sean Callery as part of our fact-checking process.

Written by: Jacqueline Belesky | Last updated: December 1, 2021