We're designing a brighter future for you
From 1 July 2021, the percentage-based administration fees charged to your account have been reduced by 10 percent to help you maximise your super savings. The reduction takes the percentage-based administration fee to 0.18 percent which is the lowest it has been in TelstraSuper’s history.
With the launch of our Climate Change Action Plan – including a goal to achieve net zero carbon emissions across our investment portfolios by 2050 – you can rest assured that your super is playing a part in the transition to a low carbon economy. In this financial year you can expect to see us make some attractive new investments as well as continue our transition away from carbon reliant industries.
Members can now complete more tasks using our online services. You can complete simple tasks like changing the frequency or amount of an income stream payment or renewing a binding death benefit nomination online. Log in to your SuperOnline account to see these new options. But don’t worry, our friendly Melbourne based contact team isn’t going anywhere – you can still get help by calling 1300 033 166 between 8.30am – 5.30pm (Melbourne time) Monday to Friday.
A new level of financial advice is coming from TelstraSuper Financial Planning. The new advice model is expected to launch in the next couple of months and includes a new offering that will suit people who are looking for tailored advice to maximise their super or start their planning for retirement. A streamlined service - it will be advice that can be received from the comfort of your home – either online or over the phone. In the mean-time don't forget you can receive simple advice about your account over the phone at no additional cost.
If you’re paying your own insurance premiums you will start receiving a 15 per cent rebate.
The 15% tax rebate is a rebate that the fund claims from the Australian Tax Office for insurance premiums collected during a financial year. From 1 July 2021, TelstraSuper will pass this rebate on to eligible members.
To receive a rebate, you’ll need to pay for your insurance from your super account (rather than employer paid insurance). The rebate will be applied automatically and be paid back into your super account at the end of each quarter, or when you leave TelstraSuper or transfer to another type of TelstraSuper account.
Insurance premiums paid for by a member’s employer are not eligible for the rebate.
Starting to think about retirement? We've built a personalised one-stop-(online) shop for everything you need. From calculators to handy articles and advice, we're supporting members through one of the biggest life changes. Just login to your SuperOnline account and we'll take you through the journey.
In other good news for super savers, the amount of money you can contribute to super increases from 1 July 2021. The concessional (pre-tax) contributions cap will increase to $27,500 per financial year while the non-concessional (post-tax) contributions cap will increase to $110,000 per financial year.
There's also been an increase in the total super balance cap from $1.6 to $1.7 million. The general transfer balance cap will increase from $1.6 to $1.7 million, however every individual will have their own personal transfer balance cap of between $1.6 and $1.7 million – depending on their circumstances.
From 1 July 2021 the rate of compulsory super that employers need to pay on the wages of eligible employees will increase from 9.5% to 10%. This could see your super savings grow even faster.
As a leading profit-to-members fund, we’re always here for our members. Our sole focus is helping members build a more secure financial future.