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The Board of Telstra Super Pty Ltd (Board) is ultimately responsible for the sound and prudent management of TelstraSuper’s business operations. The Board undertakes to perform its duties and exercise its powers in the best interests of members and beneficiaries and to act honestly, fairly, diligently and impartially in accordance with the Constitution, Trust Deed, relevant law and the Trustee’s policies.
The Board is assisted in its role by the following Board Committees:
- Investment Committee
- Audit Committee
- Risk Committee
- Governance & Remuneration Committee; and
- Member Experience Committee.
The Board and each Board Committee has a charter that sets out its duties and responsibilities.
The Board consists of four Employer Representative Directors, four Member Representative Directors and one Independent Director who acts as Chair.
All Employer Representative Directors are nominated by the principal employer, Telstra Corporation Limited. All Member Representative Directors are nominated by the Australian Council of Trade Unions (ACTU). The Independent Director is appointed by the Board.
The rules relating to the nomination, appointment and removal of directors are set out in the Constitution.
The Governance & Remuneration Committee has responsibility for the oversight of Board renewal. The Committee’s responsibilities include:
- Reviewing the composition of the Board, including succession plans, to enable an appropriate mix of skills, experience and diversity to be maintained.
- Reviewing and recommending to the Board the skills, experience and diversity required by the Board generally and in relation to any proposed Director appointment.
- Reviewing and recommending to the Board the appointment of Director nominees.
- Overseeing the Chair succession process (where required) and making an appointment recommendation to the Board.
- Overseeing the succession process for Independent Committee members and making appointment recommendations to the Board.
The members of the Governance & Remuneration Committee during the 2019/2020 financial year were Anne-Marie Corboy, Julian Clarke and Scott Connolly. The Committee held a total of six meetings during the year and each Committee member attended every meeting.
Board Performance Evaluation
The Board has a Board Performance Assessment Policy in place with procedures for evaluating the performance of the Board, each of its Committees and individual directors.
The Chair facilitates an annual review of the performance of the Board, its Committees and individual directors. The Board engages an independent external party to undertake this review every three years. The Board assesses its performance against a series of measures, including its own objectives. The outcomes of the 2020 review were considered by the Board in September 2020 and director outcomes were subsequently discussed with individual directors.
Board Skills Matrix
The Executive Team is responsible for the day-to-day leadership of TelstraSuper. Each Executive Team member is also responsible for specific areas of TelstraSuper’s business operations.
The performance of each Executive Team member was assessed in accordance with the performance assessment process following the end of the 2019/20 financial year. Performance evaluation consists of assessment against key performance indicators, including those relating to member outcomes. The Chief Executive Officer undertakes the performance reviews of the Executive Team.
The constitution is the document that specifies the rules governing the operation of Telstra Super Pty Ltd, including rules governing the appointment, powers and removal of directors, the roles, powers and responsibilities of the Board, the procedures for conducting Board and Board Committee meetings.
Download the TelstraSuper Constitution
The Trust Deed contains the rules governing the operation of TelstraSuper.
Download the current Trust Deed
In addition to the Trust Deed, Special Determinations govern the more commonly exercised employer powers contained in the Trust Deed. The following Special Determination is relevant to all TelstraSuper members about the treatment of roll-ins to TelstraSuper.
Download Special Determination documents for all TelstraSuper member groups.
Further Special Determinations are relevant for specific member groups. To access these determinations, select the member group from the list below. If a member group is not listed, no Special Determination applicable.
Defined Benefit funds Actuarial Report
The most recent actuarial report for TelstraSuper Defined Benefit Fund.
Download the actuarial report for Defined Benefit Funds
Tax Transparency Report
Conflict Management Policy
Code of Conduct
Outsourced Service Providers
Related Party Transactions
Telstra Super Financial Planning Pty Ltd is a wholly owned investment of Telstra Super Pty Ltd in its capacity as trustee of TelstraSuper. Telstra Super Pty Ltd has an agreement in place with Telstra Super Financial Planning Pty Ltd for the provision of financial planning and related services to TelstraSuper members. The agreement is conducted on an arm’s length basis.
Telstra Corporation Limited holds all of the share capital in Telstra Super Pty Ltd. Foxtel Management Pty Limited is partly owned by Telstra Corporation Limited.
Telstra Super Pty Ltd has agreements in place with Telstra Corporation Limited for the provision of telecommunications, network, data centre, AV hardware support, member communication, cloud environment support and cyber security services. All procurement arrangements and agreements with Telstra Corporation Limited are conducted on an arm’s length basis. Telstra Super Pty Ltd has an arm’s length agreement in place with Foxtel Management Pty Limited for the provision of cable television services.