Start your retirement with a bonus
June 29, 2021
At TelstraSuper we’re always looking for ways to improve our members’ futures. So to reward our members for their years of hard work and welcome them to retirement we’ve introduced a Retirement Bonus of up to $8,000.
Our newly launched Retirement Bonus is paid to eligible members when they start a TelstraSuper RetireAccess Retirement income stream. It’s funded by tax savings the fund receives when a member moves from an accumulation account into a Retirement income stream.
How to receive a Retirement Bonus
To be eligible for the Retirement Bonus:
- you must commence a Retirement income stream. You can
- fully transfer your current accumulation account into a Retirement income stream; or
- transfer part of your current accumulation account into a Retirement income stream; or
- roll new money into your current accumulation account and use that to open a Retirement income stream
- your super must be invested in the Growth, Balanced, Diversified Income, Defensive Growth, Conservative, Australian Shares, International Shares, Property, MySuper Growth, MySuper Balanced and / or MySuper Conservative investment options prior to being transferred to a Retirement income stream
Find out more about our Retirement income stream
Everyone’s bonus will vary. The bonus is calculated at 0.5% of the balance invested in eligible investments, up to a maximum of $8,000. The more money you transfer to a Retirement income stream the more bonus you could receive.
It’s important to note that funds invested in the Cash or Fixed Interest investment options will not be eligible for the bonus due to their tax structure.
The table below shows some examples:
Super balance in eligible investment options |
Potential Retirement Bonus |
| $200,000 | $1,000 |
| $500,000 | $2,500 |
| $800,000 | $4,000 |
| $1,000,000 | $5,000 |
| $1,600,000 | $8,000 (maximum bonus) |
How do I apply?
You don’t have to apply for the Retirement Bonus, as it will be paid into your account on the date your Retirement income stream commences. More information on the Retirement bonusWe're here to help
TelstraSuper Financial Planning can help you work out the best ways to manage your super in retirement. If you'd like to discuss your retirement plans or if you have any other financial advice queries contact us on 1300 033 166 or fill in our online contact form. There’s no additional charge for our phone-based service as this is included in your TelstraSuper membership.