TelstraSuper statement on ASIC action - 6 November 2023

November 6, 2023

TelstraSuper acknowledges the recent ASIC announcement regarding the commencement of regulatory action and understands the concerns it may raise among members.

The matter relates to 135 complaints – all of which are now resolved. These occurred during an approximate 15 month period from 22 October 2021.

TelstraSuper understands that the complaints process can be distressing for some members. We take complaints very seriously and we have been working constructively and cooperatively with ASIC during its enquiries.

Since new internal dispute resolution requirements were introduced in October 2021, we have continued to review our complaint handling procedures to ensure that we're providing an efficient, effective and timely service for our members.

We're committed to providing members with a strong member experience – and that includes our complaints handling process. This matter is now the subject of ASIC proceedings so we're unable to provide further details at this time.

Members who have further concerns can contact TelstraSuper on 1300 033 166.

Any general advice has been prepared without taking into account your objectives, financial situation or needs. Before you act on any general advice, you should consider whether it is appropriate to your individual circumstances. Before making any decision, you should obtain and read the relevant Product Disclosure Statement and Target Market Determination or call us on 1300 033 166 for copies of these documents. You may wish to consult an adviser before you make any decisions relating to your financial affairs. To speak with an Adviser from TelstraSuper Financial Planning call 1300 033 166.