When you leave Telstra or a related company, your super's automatically transferred into TelstraSuper Personal Plus. You'll continue to enjoy uninterrupted TelstraSuper membership.
However, there will be some changes to your super account.
Here's some key things to think about with your new super account when you’re starting a new job.
When you start a new job your employer will nominate a super fund for you if you don't make a choice. You can continue to receive the benefits of being with Australia's largest, multi award winning corporate super fund throughout your career by staying with TelstraSuper and it’s easy to do.
Simply fill in our online choice form and we'll send your new employer an email with the details they need to pay your contributions into your TelstraSuper account.
Already have a form?
If your employer provided you with a form here's some important information you may need to complete it:
|Fund Name||Telstra Superannuation Scheme|
|ABN||85 502 108 833|
|Phone number||1300 033 166|
When we receive notification that you are leaving your Telstra Group employer, your account balance and any insurance cover you have will be transferred into TelstraSuper Personal Plus. Upon the date of transfer into TelstraSuper Personal Plus, Death & TPD insurance cover you held as a TelstraSuper Corporate Plus or Defined Benefit member will be retained in your new TelstraSuper Personal Plus arrangement†, however new premium rates will apply.
If you have Income Protection Cover, that will also be transferred‡ to TelstraSuper Personal Plus. For the cover to be retained, you need to have:
- commenced new employment as a permanent employee and provided TelstraSuper with a Continuing Income Protection form within 120 days of you leaving your previous Telstra Group employer, and
- received a Superannuation Guarantee (SG) contribution from your new employer into your new TelstraSuper Personal Plus account within 180 days of you leaving your previous Telstra Group employer, and
- made an election to opt-in if you’re under 25 or your account balance is less than $6,000 on the date of transfer and you haven’t previously opted in. You will be required to complete an Opt-in Member paid default insurance cover form within 120 days from the day you leave your employer. If you have previously completed the Opt-in form or otherwise made an election, this won’t be required.
Apply for new insurance cover
You can apply to increase your level of Death only or Death & TPD cover.
If you move to permanent employment as a full time or part time employee or eligible contractor, you may be able to apply for Income Protection cover. This applies to all transferring members, including TelstraSuper Division 2 members. Eligible members** can apply online by logging into their online account, or you can complete an Insurance Telephone Request Application form.
For more information you should read the TelstraSuper Personal Plus PDS and Insurance Guide.
† Subject to the ‘active employment’ requirements contained in the relevant insurance policy.
‡ Subject to the At Work Requirements and other eligibility criteria and Exclusions contained in the Policy.
**Members must have an account that allows insurance cover to be applied under a Policy and must be registered users of SuperOnline. Members must also have a valid email address and reside in Australia.
When you receive a redundancy payment you might like to consider putting some of that money into your super. You can do this as a post-tax contribution after you receive your payment but don’t forget that there are limits on how much you can contribute into super.
There are options for boosting your super:
You can see the difference extra contributions will make by visiting your personalised retirement income projector in your online account. Just log in to see how much difference extra contributions may make to your final balance.
One of the benefits of being a member of TelstraSuper is access to advice about your super account over the phone at no additional cost. TelstraSuper Financial Planning can help you work through your insurance, investments and look at how best to boost your super. To speak with an adviser call 1300 033 166 or request a call by filling in the online form.