Happy 30th Birthday TelstraSuper
June 19, 2020
On 1 July, we celebrate our 30th anniversary. That’s quite an achievement!
It was the Australian government’s privatisation of Telstra that led to the establishment of what was then called the ‘Telecom Superannuation Scheme’. We have always been very proud of being a profit-to-member fund and part of the Telstra Group family. The fund started with the transfer of around 20,000 members from the Commonwealth Superannuation Scheme and we’re now one of Australia’s leading profit-to-members fund with over $20 billion in assets.*
So what happened along the way?
A great deal. For a start, Telstra Super changed to its current name in 1996 and soon opened membership up to former Telstra Group employees and family members. We have introduced a range of accumulation and retirement products and new investment options, so you’re able to invest your super where and how you choose and stay with the fund when you move jobs and into retirement.
Over thirty years the fund has grown considerably
In 1990, TelstraSuper employed a handful of staff. Today, we have offices in Sydney, Brisbane and Adelaide, as well as our Melbourne headquarters. But even so, our senior management levels have remained very stable. Chris Davies, who took over as Chief Executive officer in 2014, is only the third CEO in the fund’s history!
As TelstraSuper is only run to benefit our members, our views are always member oriented. We don’t pay dividends to shareholders and we fiercely advocate for members’ best interests through good and tough times.
We introduced financial planning for members
We were one of the first superannuation funds to offer a financial planning service to members and their partners. Telstra Super Financial Planning has provided quality financial guidance since 2002. This personal, tailor-made approach helps members to plan ahead and maximise their savings. Over 8,000 members attended our Member Education events (either face-to-face or online) last year. As our world has become increasingly digitised, we were one of the first funds to launch a secure member portal for members to manage their super accounts online. As a leader in providing digital access to super details, the number of members accessing their super through the portal and our app has increased with over 1,344,115 visits to our website this financial year!
We've received industry recognition
In 2020 TelstraSuper was awarded Platinum MyChoice super by SuperRatings, in recognition of being 'a best value for money' superannuation fund, along with a 15 year Platinum performance award, in recognition of being rated a Platinum super fund for 15 consecutive years. This industry recognition is important to us, because it means we are reaching the goals we have set and that you, our members, will directly benefit from our success.
We’re also proud to have been named a 2019/2020 Workplace Gender Equality Agency Employer of Choice for Gender Equality for the second time. This citation recognises TelstraSuper’s active commitment to achieving gender equality and our leadership in driving positive change for an inclusive workplace.
We've strived to make super accessible for everyone
Importantly, 2019 saw us grow our community partnerships, including signing on to sponsor the First Nations Foundation Big Super Day Out – an Indigenous outreach event to help Aboriginal and Torres Strait Islander members with their super.
Aboriginal and Torres Strait Islander people face many challenges in accessing superannuation including verification of identity, communication and literacy issues, different cultural practices and relationships, and life expectancy differences. This new relationship demonstrates our commitment to helping all members – including Aboriginal and Torres Strait Islander peoples in remote communities.
We've stayed innovative
In helping our members transition to retirement, we also launched a Retirement Bonus of up to $8,000 for members that open a RetireAccess Retirement income stream account. This along with our Diviersified Income, Direct Access and Defensive Growth investment options are some of the unique offerings we have for our members.
Managing your super in uncertain times
2020 has seen the fund operating in challenging times. From the bushfires at the beginning of the year to the COVID-19 pandemic which continues to impact all of our members. Throughout this time our priority has been on managing our members superannuation benefits and investments with minimal disruption. We were one of the first funds to launch a dedicated web destination with a purpose built chat bot to provide regular investment updates, answer frequently asked questions and help our members manage their super. Whilst we are actively managing the extreme volatility of different investment portfolios, we believe our portfolios are well-placed to deliver growth over longer term periods.
A message from our CEO
“Thirty years is a significant milestone,” says Chris Davies, TelstraSuper’s Chief Executive Officer. “We can be proud of our efforts. But anniversaries are also opportunities for reflection and planning ahead. Our commitment to you is to help you build a financially secure future. That’s why we’re passionate about delivering on this promise. We hope you see evidence of this whenever you come into contact with us.”
*Rated Platinum 2020 MyChoice Super by SuperRatings