Telstra Super MySuper
From 1 February 2017, we are making some modest changes to our asset allocations. Visit www.telstrasuper.com.au/fundupdate for more information about the changes. You may want to consider the changes if you’re thinking of changing investment options.
MySuper is a default superannuation product introduced as part of the government’s Stronger Super Reforms. MySuper aims to improve the retirement outcomes of members who haven’t made an investment choice for their super, and to make super simpler and more transparent. Telstra Super's MySuper arrangement is offered with a lifecycle investment strategy within Telstra Super Corporate Plus and Telstra Super Personal Plus.
How Telstra Super MySuper works
Telstra Super MySuper aims to help members maximise their retirement outcome by ensuring their super is automatically invested with a level of risk and return appropriate to their age. This means a higher growth/higher risk investment option for younger members who have time to wear short-term fluctuations in investment markets in order to gain long-term growth. Conversely, a more conservative option is chosen for older members, with the aim of protecting their investment capital leading up to retirement. This is known as a ‘lifecycle investment strategy’.
Telstra Super MySuper consists of three age-based investment stages as shown in the table below. The account balance and contributions of Telstra Super MySuper members will be invested in the relevant age-based investment stage, then, as the member ages, their balance will automatically be moved to the relevant investment stage in the arrangement. No buy/sell spread is charged on automatic MySuper transfers.
||MySuper investment stage
|45 to under 65
|65 and over
Who can invest in Telstra Super MySuper?
Telstra Super MySuper is Telstra Super's default investment strategy. This means members who don’t make an investment choice are automatically placed in Telstra Super’s MySuper arrangement when they join Telstra Super. Members can then choose to stay in MySuper or elect another investment option. Existing members can also elect to invest in MySuper. Member-elected investment switches in and out of Telstra Super MySuper incur the usual buy/sell spread.
Fees, costs and benefits
Telstra Super MySuper has the same fees and costs as existing products and Telstra Super MySuper members will enjoy all the same benefits and services as other members. For more information about Telstra Super MySuper refer to the Telstra Super Corporate Plus and Telstra Super Personal Plus Product Disclosure Statements.
Telstra Super MySuper Product Dashboard
For a snapshot of investment performance, risk, and fees and costs associated with Telstra Super’s MySuper arrangement, see the Telstra Super MySuper Product Dashboard.
More information about MySuper
As outlined above, the government's intention with MySuper is to provide a simple, transparent product which members and employers can easily compare using a set of standardised features. These standardised features include:
A prescribed list of fees
The fees that can be attributed to a MySuper account are limited. The main fees include:
- an administration fee
- an investment fee
- insurance premiums
- an advice fee
A single diversified or lifecycle investment strategy
As outlined above, Telstra Super MySuper is offered with a lifecycle investment strategy.
Death and Total & Permanent Disablement (TPD) insurance, offered on an opt-out basis
Telstra Super Personal Plus and Telstra Super Corporate Plus offer a base level of death and TPD cover on an opt-out basis.
All funds must disclose fees and investment performance, allocation and risk in a set format which will enable easier comparison by members and employers. This is displayed in the Telstra Super MySuper Product Dashboard.