We've made Direct Access even better
October 24, 2023
We’ve made some exciting changes to our popular Direct Access self-managed investment platform.
Move your Direct Access investments to a Retirement income stream^
You can now seamlessly transfer your Direct Access investments from accumulation to a Retirement income stream account without needing to sell-down or re-purchase your shares and ETF investments when you retire. You won’t pay capital gains tax or brokerage or transaction fees.# It’s a great way to retain your long-term investment strategy and remain invested in the market.
Term deposits cannot be transferred to a Retirement income stream account, so you’ll need to wait until these mature or break any term deposits you have before the transfer (where a term deposit is broken, a reduced rate of interest may apply).
Here’s how it works
When you open a Retirement income stream account and request a transfer, we’ll move the entire balance of your Direct Access investments from your Personal Plus or Corporate Plus account to your Retirement income stream account. Your entire Direct Access investment balance must be transferred across. Partial Direct Access transfers are not possible.
You can learn more about seamlessly transferring your Direct Access investments into a Retirement income stream account here. Also please refer to the TelstraSuper RetireAccess Product Disclosure Statement and Direct Access guide for further information.
New ETFs available
We’ve also added 17 new Exchange Traded Funds (ETFs) to the Direct Access platform. This brings the total number of ETFs available for direct investment to 49. This is in addition to the other Direct Access investment options, including Australian shares that form part of the S&P/ASX 300 Index and a range of approved term deposits.
More about Direct Access
At TelstraSuper we’re here to help you build a secure financial future. TelstraSuper Financial Planning has a team of phone-based Advisers who can provide you with simple general advice about Direct Access and RetireAccess. There's no additional charge for our phone-based service as this is included in your TelstraSuper membership. If you require further personalised advice, we have comprehensive Advisers who can assist you with portfolio construction of ETFs and term deposits with Direct Access. They can be contacted on 1300 033 166 or fill in our online form.
#When commencing a Retirement income stream, you’ll be subject to the transfer balance cap. This cap is the maximum amount that can be transferred into a tax-free income stream and includes your Retirement income stream with TelstraSuper plus any amounts you may have in tax-free income streams with other super funds (including any Commonwealth Super Scheme benefit). The amount of your transfer balance cap depends on your circumstances. If you exceed the transfer balance cap, you’ll be required to reduce the amount held in a tax-free income stream. You’ll also pay tax on the excess amount, including interest. For more information visit the ATO website www.ato.gov.au
Before you act on any general advice in this document, you should consider whether it is appropriate to your individual circumstances. Before making any decisions, you should obtain and read the RetireAccess Product Disclosure Statement and Direct Access guide. Past performance is no indication of future performance.