FAQs

Find an answer to your question quickly and easily by searching our database of frequently asked questions.

Account and updates

  • Can I change my investment option?

    Yes, you can change your investment option as often, or as little, as you like.

    A buy/sell spread may apply when switching your investment options. 

    The easiest way to change your investment options is by:

    • logging in to SuperOnline
    • choosing “Investment choices”
    • clicking “Update investment choice”.

    You can choose from a broad range of options to ensure that your super savings are invested in the option that best suits you.

    TelstraSuper offers five diversified options, which means your money is invested across several asset classes including shares, cash, property and fixed interest.

    We also offer five single asset class options to provide you with investment choice in all major asset classes.

    Additionally, our Direct Access investment option offers you the ability to invest your super directly in companies listed in the ASX300, a range of selected Exchange-Traded Funds (ETFs) and term deposits. To be eligible for Direct Access, you require a $50,000 minimum balance in your account. For details of other eligibility criteria, see the Direct Access PDS.

    Members who don't make an investment choice will automatically be invested TelstraSuper MySuper, which consists of three investment stages based on age.  Member elected switches in and out of TelstraSuper My Super also incur the usual buy/sell spread.

    For more information on the investment options available to you, visit the investment options pages or download our Investment Guide.

    Update your investment choice

    What are your investment options?

  • How do I find how much super I have with TelstraSuper?

    Checking your super balance is easy. You can find out how much super you have in two ways:

    1. Online via SuperOnline
      Access your current balance any hour of the day. Simply log in to SuperOnline and choose 'Balance'.
    2. Call us on 1300 033 166
      Our Member Services Consultants can provide you with your current balance between 8.30am and 5.30pm, Monday to Friday (Melbourne time).

    Of course, your quarterly Super Statement also provides a record of your benefit. You can choose to receive your statements online.

    You can also access historical Super Statements via SuperOnline or by calling 1300 033 166

  • How do I update my beneficiaries?

    In a super account there are three types of beneficiaries you can nominate – a binding or a non-binding beneficiary, or a reversionary beneficiary.  There are two ways you can update your beneficiaries:

    1. Download a Nomination of Beneficiaries form to make a binding or non-binding nomination, complete the form and return it to TelstraSuper by post or fax.
    2. Log in to your SuperOnline account to update or change your non-binding beneficiaries online.
    3. A reversionary beneficiary nomination can only be made at the commencement of a TelstraSuper RetireAccess account via the TelstraSuper RetireAccess Application form. Once a TelstraSuper RetireAccess account with a reversionary beneficiary has commenced, you can only change or remove your reversionary beneficiary nomination by closing that account and commencing a new account with a new beneficiary nomination.

    Am I eligible to set up a TelstraSuper RetireAccess income stream?

    You can use your super to open a TelstraSuper RetireAccess income stream provided you have at least $10,000 in your account and you meet one of the following criteria:

    • you have reached preservation age (the age the Government allows you to access your super)

    Or

    • you have applied and been approved to receive a Total & Permanent Disablement benefit.

    You can open a RetireAccess income stream even if you’re still working and have met your preservation age through a transition to retirement strategy.

    Find out more about a TelstraSuper RetireAccess income stream.

  • I have ceased employment with Telstra Corp, can I stay with TelstraSuper?

    Yes, you can remain a member of TelstraSuper throughout your life. When you leave Telstra we’ll automatically change your membership type from corporate to personal and send you the details in the mail. Just make sure you update your personal details including email and postal address in SuperOnline so we know where to find you. You can then have your new employer pay your super into your TelstraSuper account. Simply fill in our quick online form which will send your new employer the information they need to start contributing to TelstraSuper. There will be some changes to your insurance when you cease employment with Telstra, you can read about those here.

    Update your Personal Details

    Nominate TelstraSuper

  • Is there a charge for changing my investment option?

    There is no switching fee for changing your investment option/s.

    However, when you switch investment options, a buy-sell spread may apply. A buy-sell spread is a cost to recover the transaction costs related to the sale and purchase of assets.

    The buy cost or sell cost ranges from 0.00% to 0.10%, depending on the investment option. The cost of the buy/sell spread is deducted in the calculation of unit prices at the time of the switch.

    Buy-sell spreads don't apply to the Direct Access investment option. However, other fees such as activity fees may apply, which reflect transaction costs, brokerage or other services associated with investing via the Direct Access investment option. Please refer to the Direct Access PDS for more information regarding fees

    Buy-sell spreads don't apply to the automatic, age-based investment switches within TelstraSuper's MySuper arrangement.

    The easiest way to switch your investment is by:

    • logging in to SuperOnline
    • choosing “Investment choices”
    • clicking “Update investment choice”.

Buy-sell spread changes

  • Why are the buy-sell spreads/costs changing?

    We review fees regularly to see if there are any areas where we can reduce costs for our members. Our investment team analysed the costs and worked out that we could afford to remove the buy sell costs on most investment options.

    This is because, due to the size and scale of TelstraSuper, we don't usually need to sell down assets based on member transactions. This is largely because the pooling effect of the Fund means member contributions are balanced out by member rollouts and/or payments.

    The Property option is a bit different because it is illiquid which means it's more difficult and time consuming to sell down to cash, so we've kept a small buy/sell cost of 0.10% for this option. This is still a reduction as it was previously 0.30%.

    The buy/sell costs will continue to be reviewed regularly and may be changed in the future as the member initiated transaction costs fluctuate over time.

  • What is a buy-sell spread (or cost)?

    A buy-sell spread is the cost of buying and selling investment units in the different investment options. It's similar, for example, to the brokerage costs you would pay if you were buying and selling shares - the cost of the transactions when you change your investments. The buy and sell prices of a particular investment option may differ due to the variable costs associated with buying or selling any underlying securities or assets. The difference in buy and sell prices (which is the aggregate of any buy cost and sell cost) is used to determine the buy-sell spreads.

  • Why have I been paying this?

    The buy-sell spread covers the cost of transactions initiated by members. It includes all contributions (including employer contributions made on your behalf), rollovers, investment switches and withdrawals. When making such a transaction, you're effectively buying and/or selling investment units, similar to how you would purchase and sell shares in a company. These transactions involve costs which are covered by a cost known as the buy-sell spread.

    We regularly review the rates and, as a result of our recent review, we've determined we can adjust the rates however these will be reviewed again in the future. The buy-sell spread is not directly deducted from your account, but is a cost that is automatically reflected in the unit price.


  • Why is there still a cost for Property?
    The Property option was considered differently due to the illiquid nature of the underlying assets and the transaction costs associated with property investments. It was decided to reduce the buy-sell spread for the Property option down to 0.10% (or 10 basis points) from 0.30% (or 30 basis points) previously.
  • How will I “see” the difference in my account once these fees are removed?
    The buy-sell spread is not directly deducted from your account, but is a cost that is automatically reflected in the unit price. So the change will, therefore, affect the number of units you are able to buy or sell.
  • Can the buy-sell spreads be re-introduced in the future?
    As the member initiated transaction costs fluctuate over time they will continue to be reviewed and may change in the future.
  • What is/was the cost to switch?

    The buy cost or sell cost ranges from 0% for most options to 0.10% for the Property option. (See the table below for the costs which apply from 6 June and those which applied before this date.) The cost of the buy-sell spread is deducted in the calculation of unit prices at the time of the switch.

    Buy-sell spreads don't apply to the Direct Access investment option. However, other fees such as activity fees may apply, which reflect transaction costs, brokerage or other services associated with investing via the Direct Access investment option. Refer to the Direct Access Product Guide for more information regarding fees.

    Buy-sell spreads don't apply to the automatic, age-based investment switches in TelstraSuper's MySuper arrangement.

    The buy-sell costs as at 6 June 2019

    Investment option Buy cost Sell cost
    Growth 0%  0%
    Balanced 0%  0%
    Diversified Income 0%  0%
    Defensive Growth 0%
     0%
    Conservative 0%  0%
    International Shares 0%  0%
    Australian Shares 0%  0%
    Property 0.10%
     0.10%
    Fixed Interest 0%  0%
    Cash 0%  0%
    MySuper Growth 0%  0%
    MySuper Balanced 0%
     0%
    MySuper Conservative 0%  0%

    The buy-sell before 6 June 2019

    Investment option Buy cost Sell cost
    Growth 0.12%  0.12%
    Balanced 0.12%  0.12%
    Diversified Income 0.12% 0.12%
    Defensive Growth 0.12%
    0.12%
    Conservative 0.12% 0.12%
    International Shares 0.20% 0.20%
    Australian Shares 0.20% 0.20%
    Property 0.30%
     0.30%
    Fixed Interest 0.05%  0.05%
    Cash 0%  0%
    MySuper Growth 0.12% 0.12%
    MySuper Balanced 0.12%
    0.12%
    MySuper Conservative 0.12% 0.12%

     

Contributions

  • Can I roll over other super money into my TelstraSuper account?

    Yes you can. By putting your super into one account you will pay just one set of administration fees, competitive investment fees and reduce the headache of having your super in different accounts. Plus - we won't charge you any fees for transferring your money into TelstraSuper. Save yourself the hassle - consolidate your super today.
    If you are a Defined Benefit member, any super you transfer from another fund will be rolled into your Voluntary Accumulation Account (VAA). If you do not already have a VAA one will be set up for you.

    Find out more about how to consolidate your super and get your super under one roof. 

    Locate and combine your super accounts

  • How do I get my new employer to pay my super into my TelstraSuper account?

    You’ll need to give your new employer the details of your TelstraSuper account. You can do this by either emailing your employer using our online form or completing a print form and giving it your employer directly. If you have any problems you can call us on 1300 033 166.

    Nominate TelstraSuper

  • How do I make contributions to my super?

    There are a few easy ways to contribute to your super account. The type of contribution you should make depends on your circumstances.  If you earn below a certain salary post-tax contributions could be more suitable and you may be eligible for a government co-contribution.  Whereas if you earn above a certain salary, pre-tax contributions may provide tax savings. 

    • Pre-tax contributions: if you’re working, speak to your payroll area to set up ongoing contributions into your TelstraSuper account. You just need to let them know how much you want to contribute each pay period. 
    • Post-tax contributions: make contributions by BPAY or cheque. You can set up ongoing contributions with your BPay. 

    To find out more about the different types of contributions you can make, visit the contributions page of our website. To see what kind of contribution may suit you best try our pre vs post tax calculator

    Boost your super

    Calculate Pre-tax vs post-tax contributions

  • Is there a limit on the amount that can be contributed?

    Yes, there are limits on the amount of pre-tax and post-tax contributions you can make to your account.

    Limit for pre-tax contributions for the 2017/2018 financial year is:

    • $25,000 per year

    Find out more about pre-tax contribution limits, and what’s included in the cap and how your contribution is taxed.

    The post-tax contributions cap for the current financial year is $100,000 pa per person.

    • If you are aged under 65 years, you are able to bring forward two years of post-tax contributions and make a lump sum contribution of $300,000 in one financial year. So if you make a $300,000 contribution during the 2017/2018 financial year, you will not be allowed to make any further post-tax contributions until the 2020/2021 financial year.
    • If you are aged 63 or 64 you are able to bring forward two years of contributions without meeting the work test in the subsequent two years.
    • If you are aged 65 to 74 (inclusive) you can make contributions up to the annual cap of $100,000 if you meet the work test (work 40 hours within a 30 day period each income year) or work test exemption (your total superannuation balance is less than $300,000 at the end of the previous financial year and you met the work test in the previous financial year), but you are generally not able to bring forward contributions. However, in the financial year you turn 65 you can bring forward contributions if you are contributing under the work test or work test exemption.

    Find out more about post-tax contribution limits, and what’s included in the cap and how your contribution is taxed.

    Managing your contributions

  • What BPAY details do I need to contribute to my own account?

    To make post-tax (non-concessional) contributions to your super account you’ll need your unique BPAY reference number. You can get this by using your member number and our BPAY code generator. You only need to do this once – the number remains the same every time you want to use it to make a contribution. You can get BPay numbers to make post-tax contributions into your account (these may be eligible for government co-contributions) and spouse contributions.

    Start contributing with BPAY

  • What BPAY details do I need to contribute to my partner's account?

    You can make contributions into your partner's account (often referred to as spouse contributions but you don’t need to be married to make them). You’ll need their unique BPAY reference number. You can get this by entering their member number into our BPAY code generator. You can then make BPAY contributions into their account using this number at any time. Spouse contributions may be eligible for a tax rebate depending on your partner’s salary.

    Start contributing with BPAY

  • What is the best way to contribute to my super: pre-tax or post-tax?

    The best approach depends on your personal and financial situation.

    Pre-tax contributions, also known as concessional contributions can have significant tax savings. Benefiting from making pre-tax contributions will depend on factors such as your marginal tax rate.

    Post–tax contributions, also known as non-concessional contributions, are any contribution made after your salary is taxed. There are advantages to making post-tax contributions, such as the government co-contribution scheme and spouse tax offset. The benefits you receive from these depend on you and your spouse's income earnings.

    Try our Pre-tax vs post-tax contributions calculator and Retirement income projector to compare the difference each type of contribution will make to your final balance.

    Calculate Pre-tax vs post-tax contributions

    Launch the retirement income projector

Defined Benefit

  • What is the defined benefit formula?

    Your defined benefit is calculated according to a particular formula. Here’s how it works:

    Defined Benefit formula

    • Accrual % rate is linked to your elected contribution rate
    • Your benefit multiple is based upon the rate or rates at which you contribute to your defined benefit and for how long you contribute at that particular rate. (see the question “How is my multiple calculated?” for further clarification)
    • Final Average Super Salary (FAS) is calculated using the average of the last three years of super salary at your birthday. The benefit payable to you must be equal to or greater than the benefit required under Superannuation Guarantee (SG) legislation. This means that the benefit payable to you will be the greater of your defined benefit and SG benefit. The SG benefit is the minimum amount of superannuation support your employer must provide to you by law.
  • How much should I contribute to my defined benefit?

    TelstraSuper Division 2 defined benefit members may elect to contribute between 0% and 10% in multiples of 1%. The amount you contribute will impact the accrual percentage rate used to calculate your retirement benefit, as shown:

    Average Contribution Rate tables

    Everyone’s situation is different, so how much you should contribute is a personal choice. However, in most situations, maintaining an average contribution rate of 5% over the period of your defined benefit membership is the optimum amount to contribute to maximise your employer support and benefit. As Table A shows, when your average contribution rate falls below 5% there is an opportunity to ‘catch up’ by making contributions between 6% and 10%. Table B shows that once you reach an average contribution rate of 5%, additional contributions above 5% don’t attract additional employer support.

    It’s important to realise that the notional employer superannuation contribution amount won’t change if you elect to change your contribution rate.

    When considering what contribution rate you should elect, you need to consider:

    • your current average contribution rate;
    • your potential future salary growth; and
    • any potential loss in grandfathering of your notional taxed contributions.

    There is further information about grandfathering in the TelstraSuper Division 2 Super Guide.

    A TelstraSuper Financial Advisor can assist you in choosing the right contribution rate for you. Call us on 1300 033 166.

  • Should I stay in DB or would I be best to change to an accumulation account?

    Everyone’s situation is different so it’s important to consider your own personal situation when deciding whether to stay in defined benefit or move to an accumulation account and seek appropriate financial advice.

    You should consider:

    • your current average contribution rate, particularly if your average contribution rate is below 5%
    • the cost against your package compared with the accumulation scheme
    • your expected growth in super salary and subsequent expected growth in Final Average Salary (FAS), as this will impact the growth in your defined benefit value
    • your desire for certainty of benefit versus risk of investment loss
    • your appetite for exposure to the investment markets to achieve potentially higher returns
    • insurance cover
    • if you’d like to start a Transition To Retirement income stream, if you’re still working

    TelstraSuper Financial Planning can help you consider your situation. Call 1300 033 166 to speak with an Adviser.

  • Can I reduce the amount going into my super from my employer so I can receive more cash salary?
    No, the notional employer superannuation contribution amount can’t be reduced to the minimum Super Guarantee rate (currently 9.5%) to receive more cash salary. The only way to do this is to leave the defined benefit scheme and move to the TelstraSuper Corporate Plus accumulation scheme.
  • What happens to my defined benefit if I leave Telstra?

    If you leave Telstra, whether to retire or to go to another job, your account balance will be transferred into our accumulation product, TelstraSuper Personal Plus. If you’ve retired, the funds can be used to set up a TelstraSuper RetireAccess income stream account. If you’re leaving Telstra because of redundancy you can find out what will happen with your defined benefit.

    Here’s how it works

    Your account Your insurance
    Benefit calculated on final day of employment at Telstra  
    Transfer automatically to TelstraSuper Personal Plus Base default and top-up death and TPD cover transferred to TelstraSuper Personal Plus
    Defined Benefit portion invested in Cash option for 90 days, then invested in MySuper lifecycle default or the Voluntary Accumulation Account previously elected investment option Premiums become member paid
    VAA investment option stays unchanged Can apply for income protection when continuously employed with new employer
    Benefit calculation details mailed out  

Insurance

  • What insurance cover do I have?

    The insurance cover you have depends on the division you’re in, the relevant conditions and your personal circumstances such as age and health. The insurance cover that is available in some of the plans is Death, Total & Permanent Disablement and Income Protection.  

    It’s important to review your insurance from time to time – especially when you have any changes in your life (such as getting married, taking on a mortgage, having children or separating from your spouse).  You can find out how much insurance cover you may need by using our calculator

    You can review how much cover you have by logging into your SuperOnline account or giving us a call on 1300 033 166.  

    You can also find out more about insurance in the insurance section of our site or download the relevant Insurance Guide or Product Disclosure Statement for further details.

    Calculate insurance premiums and cover

    More Insurance Answers?

  • What types of insurance are available through TelstraSuper?

    TelstraSuper offers members the following types of cover depending on your super arrangement:

    • Death insurance – can provide your dependants with a lump sum payment in the unfortunate event of your death.
    • Terminal illness benefit – A terminal illness is the early payment of your death benefit in the unfortunate circumstance you are diagnosed with a terminal illness and have a life expectancy of less than 12 months. You can also apply for the release of your account balance if you have a terminal medical condition that is likely to result in your death within 24 months.
    • Total & Permanent Disablement (TPD) insurance – can provide a lump sum benefit to you if you suffer from an illness or injury. The amount you receive will depend on how much cover you have and on your eligibility which is outlined in your Insurance Guide.
    • Income Protection insurance – can provide you with a replacement income while you’re temporarily unable to continue performing the regular duties of your occupation. The replacement income is up to 75% of your salary, with an additional 10% of your income paid towards your super. This benefit may be varied by offsets and additional income as defined by the applicable policy terms and conditions.
  • Do I need insurance cover?

    Do you have a plan for how you or your family would meet mortgage and loan payments, pay bills and cover day-to-day expenses without your salary coming in should you die or become disabled? If the answer is no, then you could be leaving yourself open to serious financial hardship. Insurance cover may assist by providing a financial safety net for you and your family and, most importantly, help you to maintain your current lifestyle.

    An Adviser from TelstraSuper Financial Planning can help you work out how much cover you need. TelstraSuper members can access financial advice about their insurance over the phone at no additional cost as part of their membership. You can also use our calculator to estimate your insurance cover.

  • What are the benefits of insurance through super?

    You can get the cover you need for you and your family, even if money is tight and it's easy to manage because depending on which division you’re in, premiums are either paid by your employer, or automatically deducted from your super account at the end of each quarter.

    By having insurance cover through your super fund, you potentially save yourself hundreds of dollars a year compared to insuring yourself individually through a retail fund, as TelstraSuper has negotiates bulk rates for our members. Check your Product Disclosure Statement to see what cover you can apply for.

    An Adviser from TelstraSuper Financial Planning can help you work out how much cover you need. TelstraSuper members can access financial advice about their insurance over the phone at no additional cost as part of their membership You can also use our calculator to estimate your insurance cover.


  • How much cover do I need?

    A general rule of thumb is to base your cover needs on how much you’d require to replace your projected income over your working life, while factoring in potential costs such as debts, any major future expenses and education costs for children.

    A TelstraSuper financial planner can help you work out how much cover you need. TelstraSuper members can access financial advice about their insurance over the phone at no additional cost as part of their membership You can also use our calculator to estimate your insurance cover.


  • Who can apply for insurance cover with TelstraSuper?
    Current TelstraSuper members and eligible Telstra Group employees and their eligible family members who are Australian Residents. Australian Residents is defined as:
    An Australian or New Zealand Citizen or person with the unrestricted right to permanently reside in Australia. Additionally an Australian resident will include persons with the right to reside in Australia on a de facto or work type visa but only during the period the persons resides in Australia.
  • How much does insurance cost?

    The insurance calculator can help you work out the cost of any new cover you're thinking about. Depending on the division you are in, premiums can be either stepped which means they will generally increase each year as you get older, or fixed as an annual premium amount and reducing insurance cover scale. You may also have a combination of both premium types.

  • Can I apply for more Death and TPD cover without providing any health evidence?

    Depending on your super arrangement you may be able to apply to increase your death only or Death & TPD without providing any health evidence:

    • as a result of a significant event occurring in your life, such as getting married, buying a home, milestone birthdays or welcoming a new child(ren) to family. You’ll need to complete a Life Events Insurance Application form within 90 days of the specified event. For full details of life events covered and other conditions refer to your Insurance Guide.
    • if you currently have insurance cover through another super fund or life insurance company. To transfer your external cover to TelstraSuper, you’ll need to complete a Life Events Insurance Application form.
    Membership category External transfer Life event
    TelstraSuper Corporate Plus yes yes
    TelstraSuper Personal Plus yes yes
    TelstraSuper RetireAccess yes no
    TelstraSuper Division 2 yes no
    TelstraSuper Division 5 yes no
    Sensis Super Plus - Defined Benefti yes no
  • How do I apply for top-up cover?

    You apply for additional death only or death & TPD insurance cover (top-up) anytime. You’ll need to complete an Insurance Telephone Application Request form. All premiums for top-up cover are deducted in arrears from your TelstraSuper account at the end of each quarter or when you leave the fund.

    On completion of your application, we will forward your request to TAL who will contact you for an interview by phone. They will seek additional medical, occupational and general information where necessary in order to assess your application. Once their underwriting assessment is complete, we will inform you of the outcome. Any additional cover offered to you may include the following:

    • Occupational Loadings – these are an increase to the premium as a result of the risk category assigned to your occupation.
    • Medical Loadings – these are an increase to the premium as a result of the risk category assigned to your medical history.
    • Exclusions – TAL may apply medical exclusions to your additional cover for which coverage is not provided for in the event of a claim where the condition is directly or indirectly caused by the medical exclusion noted.

    More information on premium loadings can be found here


  • What is the maximum total sum insured cover available for Death and TPD?
    Insurance type Sum insured
     Death Unlimited
    TPD Maximum of $5m however it cannot be higher than your death cover sum insured.

  • Can I cancel or reduce my cover?

    For any new cover there is a 14 day cooling off period. After this time, you can cancel or reduce the amount of cover you have by calling us on 1300 033 166 or completing a Cancel or Reduce Insurance form.

    It's important to note that if you cancel any insurance, including any base* cover, and wish to reapply at a later date, evidence of your occupation, health and lifestyle will need to be provided to TAL for assessment. TAL may place an exclusion or premium loading on cover or may decline cover as a result of their assessment.

    If you cancel your cover: 

    •  you will not be able to make a claim for insurance benefits for events or conditions that arise after your cover has cancelled
    •  we will no longer deduct insurance premiums for the cover you have cancelled
    •  your ability to restart your cover may be subject to health assessment and acceptance by our insurer who may place an exclusion or premium loading on cover and you may not be able to get cover
    •  if you are replacing your cover with alternative cover, you should not cancel until the replacement cover is in place.

    Before you cancel your insurance you may wish to discuss your decision with a TelstraSuper Financial Planning Adviser on 1300 033 166.
    If a contribution or transfer has not been made to your account in the previous 16 months, government regulations require us to cancel your insurance cover unless you elect for your cover to be maintained.

    We will write to you when your account has been inactive for 9, 12 and 15 months when you'll be reminded about the option to elect for your cover to be maintained, or to make a contribution to your account.

  • What happens to my Income Protection insurance when my salary changes?

    It depends on your super arrangement. If you have IP cover and are a TelstraSuper Corporate Plus, TelstraSuper Division 5 or a Sensis Super Plus – Defined Benefit member your employer confirms your salary details once a year to TelstraSuper and if your salary has changed your Income Protection will be automatically adjusted and this will be reflected on you quarterly statement and in your online TelstraSuper account.

    However, for TelstraSuper Personal Plus members, if your salary increases and you wish to be covered appropriately, you’ll need to complete an Insurance Telephone Application Request form to be underwritten. On the other hand, if your salary has decreased or you’re no longer working then you’ll need to complete a Cancel or Reduce Insurance form so you’re not paying unnecessary premiums.


  • Does TelstraSuper insurance provide world-wide cover?

    TelstraSuper offers world-wide cover subject to insured members abiding by all policy conditions which apply to them. Cover shall be provided 24 hours a day for all insured members who are Australian residents while in Australia or overseas. Please call us if you would like a copy of the policy document.

    Note: existing member will not be covered for insurance purposes if they move indefinitely to another country.


  • Who underwrites insurance provided through TelstraSuper?
    TAL Life Limited (‘TAL’) is the Underwriter and Insurer for TelstraSuper.

TelstraSuper information

  • What fees does TelstraSuper charge?

    The fees and costs you pay depends on the membership category you're in.  As a not for profit fund we work hard to keep our fees competitive when compared to other super funds. There are no hidden fees. 

    Find out more about possible fees and costs that you may be charged.

    Fees and Costs

  • What is an ABN and what is TelstraSuper's ABN?

    ABN stands for Australian Business Number and it’s used as a unique identifier – sort of like a tax file number but for a business. Businesses with an ABN are part of the Australian Business Register which is operated by the Australian Taxation Office.

    Our ABN is 85 502 108 833.

  • What is the USI and what is TelstraSuper's USI?

    USI stands for Unique Superannuation Identifier.

    You might be asked to provide TelstraSuper’s USI when providing the details of your super account to a new employer. It can also be referred to as a “SPIN” or Super Product Identifier Number.

    Our USI/SPIN is TLS0100AU.

  • Will it cost anything to join TelstraSuper?

    As a not for profit fund we don’t charge entry, exit, contribution fees or commissions.  If you are coming from another fund, you may have a withdrawal fee in that fund, so you might want to refer to your current fund's product disclosure statement for details. 

    Find out about the benefits of joining TelstraSuper, including our extensive range of value-added products and services.

    Benefits of Joining

Towards retirement

  • How much super is enough?

    This is one of the most common questions we get asked.  The answer’s a personal thing. What’s enough for one person will differ for another.

    To achieve the retirement lifestyle you want, it's best to plan early. However, everyone is different, so it’s important to consider things like:

    • the age you want to retire
    • the lifestyle you want to enjoy
    • the income you want 
    • other financial assets you have.

    The Association of Superannuation Funds of Australia (ASFA) gives a guide for how much a person needs for a ‘modest’ or ‘comfortable’ lifestyle in retirement.  A comfortable retirement means you can have an annual holiday in Australia, eat out, buy good clothes and own a reasonable car.  If this sounds like what you’ll want when you finish work, then it’s a good starting point for what you’ll need saved in your super.  If you think you’ll want to do more (such as travel overseas every year) you’ll need to save more.

    ASFA says to fund a comfortable retirement as a couple you’ll need $640,000 saved in your super. For a single person you’ll need $545,000.  TelstraSuper Financial Planning has estimated a guide for how much you may need, depending on when you want to retire and your annual income needs. 

    Once you’ve got an idea of how much income you may need, you can then look at the different options available to help you get there. These include considering:

    • your super and the retirement income options available to you,
    • any other personal investments you might have, plus
    • your eligibility for the Age Pension and other government benefits.

    Have you tried our retirement income projector? It’s an industry-leading retirement income calculator, which allows you to estimate your projected super balance and whether you are likely to have an adequate retirement income.

    Launch retirement income projector

  • What is my preservation age?

    Preservation age is the age the Government allows you to access your super.  Your preservation age depends on your date of birth.  

     Date of birth Preservation age
    Before 1 July 1960 55
    1 July 1960 - 30 June 1961  56
     1 July 1961 – 20 June 1962  57
     1 July 1962 – 30 June 1963  58
     1 July 1963 – 30 June 1964  59
     After 30 June 1964 60 

    If you have reached preservation age and are considering withdrawing your money you should carefully consider the consequences, particularly given that super is tax-free on withdrawals from age 60 (provided your super is from a taxed source). You can open a retirement income stream – RetireAccess which will provide you with regular payments – much like the salary you earned while working.  This allows you to enjoy your retirement rather than worrying about managing your investments. 

    TelstraSuper Financial Planning can advise you how best to maximise your super in line with your personal circumstances and obligations.

    To make an appointment, call TelstraSuper Financial Planning on 1300 033 166 or request an appointment online.

  • When and how can I access my super?

    Super is designed to support you in retirement so generally your super must stay in the system until you’re retired. 

    You’re defined as "retired" if you’ve reached:

    • preservation age (the age the Government allows you to access your super) and are retired permanently from work; or
    • the age of 60 and have stopped working; or
    • the age of 65 (whether you're still working or not).

    When you retire you can take your super as a retirement income stream or a lump sum.  Although you’ll have access to your money, there may be tax implications if you remove it from the super system.

     You should carefully consider the consequences of withdrawing your money, particularly given that super is tax-free on withdrawals from age 60 (provided your super is from a taxed source). You can open a retirement income stream – RetireAccess which will provide you with regular payments – much like the salary you earned while working.  This allows you to enjoy your retirement rather than worrying about managing your investments. 

    TelstraSuper Financial Planning can advise you how best to maximise your super in line with your personal circumstances and obligations.

    To make an appointment, call TelstraSuper Financial Planning on 1300 033 166 or request an appointment online.

    Talk to an adviser

    Retirement income?

  • What does Transition to Retirement mean?

    Transition to Retirement is a strategy that allows people to access an income stream once they reach preservation age (this is the age that the Government allows you to access your super – it’s based on your date of birth) and are still working.

    The Transition to Retirement legislation was introduced to help people ease into retirement; by cutting back on working hours and supplementing any reduced income through their super. It also allows people who are approaching retirement but still working to salary sacrifice into super while at the same time receiving tax-effective income payments from a retirement income stream.

    Through this strategy you can maintain your income, reduce your overall tax bill and increase your super.

    To be eligible you must:

    • have reached preservation age but be under 65
    • be currently employed
    • roll over some or all your funds to a retirement income stream such as TelstraSuper RetireAccess.

    Visit to Transition to Retirement for further information.

    TelstraSuper Financial Planning can help you develop a strategy that suits your lifestyle. To make an appointment, call TelstraSuper Financial Planning on 1300 033 166 or request an appointment online.

    Learn more about Transition to Retirement