Lifestyle Balanced

Only available for Retirement income stream members


To build an investment portfolio to achieve the stated return objective within the stated risk parameters over the specified timeframe.

Who should invest?

This option suits those who are seeking growth and are comfortable with volatility of returns, particularly over the short term. This option is designed to provide lower levels of risk and return than the Lifestyle Growth option, but higher long term returns than the Lifestyle Conservative and Cash options.

Investment strategy

The Lifestyle Balanced option has a moderate bias towards growth assets, such as Australian and International Shares, balanced by an allocation towards defensive assets such as Diversified Fixed Interest and Cash.

Return objective

Outperform CPI + 3.5% p.a.

For the purpose of setting and measuring the return objective, a time horizon of 8 years has been used.

Investment timeframe

The recommended investment timeframe for this option is 8 years. Members should consider investing in this option for at least a 6 to 8 year time-horizon. This timeframe provides an indication of the typical length of time over which investments in this option should be expected to be held.

Risk characteristics

The Lifestyle Balanced option is expected to provide lower levels of return and short-term investment risk than the Lifestyle Growth option, but higher levels than the Defensive Growth and Lifestyle Conservative options. This option's risk characteristics using TelstraSuper's four measures of investment risk are summarised in the diagrams below:


The Lifestyle Balanced option's Standard Risk Measure* is for a "high" level of risk expected to generate 4 to less than 6 negative annual returns over any 20 year period.

Long-term strategic investment mix^

69.8% Growth assets
30.2% Defensive assets

Lifestyle Balanced option investment mix and asset ranges

The aim of this information is to provide members with investment objective and strategy details (including investment mix) that we consider members reasonably need to understand the fund's investments and reflect the manner in which objectives and strategies have been formulated by the Trustee pursuant to superannuation law and discretionary powers under the Trust Deed.

* The Standard Risk Measure is a standardised way of communicating investment risk that has been developed by the Association of Superannuation Funds of Australia (ASFA) and the Financial Services Council (FSC)

^The long-term investment mix is used as a strategic guide for investing. This split of defensive and growth assets can vary from time to time as investment in each asset class may vary within the allowable ranges.

Lifestyle Balanced option returns

  TelstraSuper RetireAccess returns
2022/2023 9.73%
2021/2022 -1.10%
2020/2021 22.12%
2019/2020 -1.98%
2018/2019 7.95%
2017/2018 9.13%
2016/2017 12.85% 
2015/2016 1.29%
2014/2015 11.07%
2013/2014 17.70%
2012/2013 19.94%
2011/2012 -0.02%
5 year returns 9.74%

Past performance is not a reliable indicator of future performance. The accumulation investment returns are net of investment fees and investment taxes, but before deducting any administration fee or indirect administration cost. The TelstraSuper RetireAccess investment returns are net of investment fees but before deducting any administration fee or indirect administration cost. 

Portfolio holdings disclosure

TelstraSuper is proud of our investment track record and approach to responsible investment. To provide a better understanding of what that means and how we invest our funds on behalf of our members, every 30 June and 31 December reporting date we take a “snapshot” of our portfolio holdings‡ and then break it down to show the investment allocations for each investment option. In line with current legislation, this information is made available within 90 days of each reporting date and is presented to meet the required reporting and formatting standards. For more information please see the Investments - Portfolio Holdings Disclosure section of our FAQs page.


‡ The portfolio holdings information disclosed is current only on the applicable 30 June or 31 December reporting date in a particular year. Portfolio holdings information is only updated twice a year on a date that is within 90 days after a reporting date. The portfolio holdings disclosures are made for informational purposes only and do not constitute any recommendation and/or endorsement to any person to buy or sell any investment or employ and/or implement any particular investment strategy. Any general advice on this website document has been prepared without taking into account your objectives, financial situation or needs. Before you act on any general advice in this document, you should consider whether it is appropriate to your individual circumstances. Before making any investment decision, you should obtain and read the relevant product disclosure statement. You may wish to consult a financial adviser before you make any decisions relating to your financial affairs. Past performance is no indicator of future returns.

Cash Allocation feature

Lifestyle investment options offer an optional Cash Allocation feature which can help provide investment flexibility by allocating some of your selected Lifestyle investment option(s) to the Cash investment option each month.

If you turn the Cash Allocation feature on, each month we will allocate funds to the Cash investment option from your chosen Lifestyle investment option using a declared cash allocation rate (see Lifestyle Balanced Cash allocation rate History section below). The rate is determined on a monthly basis by the Trustee after considering the expected yield on the underlying assets.

When selecting a Lifestyle investment option(s) you will be required to nominate if this feature will be used. You may turn the Cash Allocation feature on or off at any time via your SuperOnline account or by completing an Investment Choice TelstraSuper RetireAccess form.

Lifestyle Balanced Cash Allocation rate history

The Cash Allocation feature, where selected, will move amounts from the chosen Lifestyle investment option into the Cash investment option on a monthly basis. This declared cash allocation rate is determined by the Trustee monthly and may vary overtime. This rate is then used to convert some of the growth on your Lifestyle investment option into the Cash investment option on a monthly basis. The current cash allocation rate is shown in the table below. This shows the percentage amount of your Lifestyle investment option that is transferred into the Cash investment option on a monthly basis.

The table below contains the previous six months cash allocation rates applied to the Lifestyle (Balanced) investment. For historical rates prior to this please view using the link directly below the table.

Cash Allocation rate Effective start date Effective end date
0.33% 01/01/2024 To date
0.32% 01/11/2022 31/12/2023
0.30% 29/04/2022 31/10/2022
0.30% 08/11/2021 28/04/2022