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 will 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 will 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 0.30%, 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”.

Contributions

Insurance

  • What insurance cover do I have?

    The insurance cover you have depends on the plan you’re in.  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.

    To find out what insurance is available through your plan view the table located on this page

  • 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.
  • Who pays my insurance premiums?

    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.

    Your employer may pay your base death & TPD cover and Income Protection cover depending on your super arrangement and providing you have your Superannuation Guarantee (SG) contributions paid into your TelstraSuper account:

    Membership category Base level death cover Top-up death cover Base level TPD cover Top-up death cover Income protection cover
    TelstraSuper Corporate Plus Employer may pay Member  Employer may pay Member  Member
    TelstraSuper Personal Plus Member Member Member Member Member
    TelstraSuper RetireAccess Member Member NA NA NA
     TelstraSuper Division 2 Employer may pay Member  Employer may pay Member NA
    TelstraSuper Division 5 Employer may pay Member Employer may pay Member Member
    Sensis Super Plus - Defined Benefit Employer may pay Member Employer may pay Member Employer may pay
    Note: Any premiums your employer pays counts towards your concessional contributions cap.
  • How much does insurance cost?

    The premiums you pay depend on your age, which super arrangement you are in and the type of cover you have elected or received automatically. Your insurance premiums details are available via your TelstraSuper online account.

    We also have an insurance calculator on our website to 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.

  • What is base cover and how is it calculated?

    Base cover is different depending on your super arrangement:

    • TelstraSuper Corporate Plus: when members join TelstraSuper, eligible members automatically receive a pre-determined amount of death & TPD cover based on their age, salary and a pre-determined multiplier. This is referred to as base cover. Refer to the TelstraSuper Corporate Plus Insurance Guide to help calculate your base death & TPD cover.
    • TelstraSuper Personal Plus: when members join TelstraSuper, members can apply for one unit of Death & TPD cover which is pre-determined by their age. Please refer to the TelstraSuper Personal Plus Insurance Guide to help calculate your base death & TPD cover.

    Members who transfer from TelstraSuper Corporate Plus to TelstraSuper Personal Plus will be allocated a mix of base and top-up cover. This is to ensure they have the same level of cover they previously held in their TelstraSuper Corporate Plus.


  • What is top-up cover?

    Top-up cover is any cover above your base cover and only applied to Death & TPD. In most cases it’s additional cover you’ve applied and been approved for by our insurer TAL.

    If you transfer from Corporate to Personal, you will be allocated a value of top up cover that is the difference between the new base cover in Personal Plus and the value of insurance cover held in Corporate Plus as well as any underwritten cover you might have been approved for.

  • Can I get income protection cover?

    Your eligibility for income protection depends on which plan you’re in.  Generally if you’re in Corporate Plus (you work for Telstra or a Telstra related employer) you’ll have income protection.  You also may have income protection if you’re in Personal Plus (for members who used to work at a Telstra employer but don’t anymore or family members of Telstra employees) and some defined benefit members.

    You can find out if you have income protection cover by logging into your SuperOnline account or giving us a call on 1300 033 166

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

    Check your insurance

    Are you eligible?

     

  • 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.
  • 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.


  • What happens to my insurance when I leave my Telstra employer?

    Any Death, TPD or Income Protection you had will automatically be transferred to a TelstraSuper Personal Plus (account along with your account balance) and premiums will be deducted in arrears from your TelstraSuper account at the end of each quarter or when you leave the fund. If you have Income Protection cover you will need to

    1. complete a Continuing Income Protection form; and
    2. arrange for your new employer to pay Superannuation Guarantee contributions into your TelstraSuper account within 120 days of moving to TelstraSuper Personal Plus.  

    You will receive a letter from TelstraSuper confirming your insurance details including premiums and what you need to do to keep you Income Protection insurance after the first 120 days in TelstraSuper Personal Plus.  

    Find out more about your insurance when you leave your Telstra employer. 

  • What is the minimum balance required to maintain the insurance cover?
    There is no set minimum balance however sufficient funds are required to cover any administration fees, taxes and insurance premiums. If your account balance gets low and you are at risk of your insurance cover being cancelled, we will write to you on how you can continue pay your premiums to stay protected.
  • 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