Governance & Disclosure

TelstraSuper is required by law to disclose a range of information relating to the Telstra Superannuation Scheme (TelstraSuper) and the trustee of TelstraSuper, Telstra Super Pty Ltd on the TelstraSuper website. This page contains links to the required information.

If you have any queries or require any further information, please call us on 1300 033 166 between 8:30am and 5:30pm (Melbourne time), Monday to Friday or submit a query online.

The Board

The trustee of TelstraSuper is Telstra Super Pty Ltd (Trustee). The Board of Telstra Super Pty Ltd (Board) is ultimately responsible for the sound and prudent management of TelstraSuper’s business operations. In carrying out this task, 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 three Board Committees, the Audit, Risk & Compliance Committee, the Remuneration & Nominations Committee and the Claims Review 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 the Chair of the Board.

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.

Board Members profiles

Record of Attendance at Board Meetings for each Director for the last  seven years

Board Renewal

The Board has delegated responsibility for the oversight of Board renewal to the Remuneration & Nominations Committee.

The Remuneration & Nominations Committee’s duties and responsibilities regarding Board renewal include:

  • reviewing and monitoring the composition and size 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, capabilities, experience and diversity required by the Board generally and in relation to any proposed director appointment;
  • evaluating nominees for the position of director to ensure they have the appropriate skills, capabilities and experience;
  • recommending the appointment of director nominees to the Board; and
  • overseeing the independent director and Chair succession process and recommending the appointment of an independent director to the Board.

Members of the Remuneration & Nominations Committee in 2018/2019 were:

  • David Leggo (Independent Director and Chair)
  • Julian Clarke
  • Scott Connolly

The table below sets out the Remuneration & Nominations Committee meetings held in 2018/2019 and the attendance record.

Meeting date David Leggo Julian Clarke Scott Connolly
30 August 2018
7 September 2018
20 September 2019
5 November 2018
27 February 2019
3 April 2019
5 June 2019

Board Performance Evaluation

The Board has a Board Performance Assessment Policy in place with procedures for evaluating the Board’s objectives, the Board (and Board Committee’s) performance relative to its objectives and the performance of individual Directors and the Board as a whole.

On at least an annual basis, the Chair facilitates a 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’s evaluation procedures include an assessment of:

  • the Board’s operational and strategic objectives;
  • the Board’s performance over the previous year;
  • individual director’s performance over the previous year; and
  • individual directors’ fitness and propriety.

The Board agrees on a timetable for the implementation of actions arising from the reviews and the actions are generally required to be completed during the 12-month period following the review.

The performance evaluations for the Board and Board Committees for 2018/2019 were undertaken in June 2019.   Due to the retirement of the previous Chair on 30 June 2019 and the commencement of a new Chair on 1 July 2019, the performance evaluations of individual directors for 2018/2019 will take place before the end of 2019.

Board Skills Matrix

The Board seeks to maintain skills, capabilities and experience across a series of core and specialist skill areas to assist the Board in setting TelstraSuper’s strategic objectives, monitoring their implementation, and overseeing and monitoring the effectiveness of TelstraSuper’s business operations.  The Board’s optimal mix of skills, capabilities and experience is set out in a skills matrix.  The skills matrix is updated whenever a new director is appointed or otherwise on an annual basis.

The skills matrix is currently being revised to augment the core and specialist skill areas and relevant experience that Directors and the Chair should possess to ensure that the Board has the requisite diversity of skills, capabilities and experience to be able to discharge its duties effectively. Once the skills matrix is updated, all Directors including the Chair will be assessed for competency against the skills matrix.

A representation of the Board’s collective skills, experience and diversity is expected to be available by March 2020.

Executive Management Team

TelstraSuper's Executive Management Team is responsible for the day-to-day administration and management of TelstraSuper. All Executive Managers lead a business unit and are responsible and accountable for specific areas of TelstraSuper’s business operations.

Executive Management Team profiles

Register of Relevant Interests

Register of Relevant Duties

Executive Officers - Qualifications and Relevant Experience as Trustee or Board member

Executive Officers - Remuneration

Governing Documents

Constitution

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

Trust Deed

The Trust Deed contains the rules governing the operation of TelstraSuper.

Download the current Trust Deed

Special Determinations

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.

TelstraSuper Division 2

TelstraSuper Division 5

Sensis Super Plus Defined Benefit

TelstraSuper Corporate Plus

TelstraSuper Casuals

Defined Benefit funds Actuarial Report

The most recent actuarial report for TelstraSuper Defined Benefit Fund.

Download the actuarial report for Defined Benefit Funds

Disclosure Documents

Product Disclosure Statements for each superannuation product issued by TelstraSuper

2018/2019 Annual Report

TelstraSuper Financial Services Guide

Summary of each significant event or material change notice made to TelstraSuper members within the previous two financial years

Financial Statements

2018/2019 Annual Financial Statements

Conflict Management Policy

Summary of TelstraSuper's Conflict Management Policy

Code of Conduct

Summary of the TelstraSuper employee and Board Codes of Conduct

Proxy voting

TelstraSuper’s Proxy Voting Policy

Summary of when and how during the previous financial year TelstraSuper exercised its voting rights in relation to shares in listed companies

Outsourced Service Providers

The name and Australian Business Number of each outsourced service provider who provides a material business activity to TelstraSuper

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.