How TelstraSuper's MySuper Lifecycle works
TelstraSuper's MySuper Lifecycle aims to help members maximise their retirement outcome by ensuring their super is automatically invested with a level of risk and return appropriate to their age. This means a higher growth/higher risk investment option for younger members who have time to wear short-term fluctuations in investment markets in order to gain long-term growth. Conversely, a more conservative option is chosen for older members, with the aim of protecting their investment capital leading up to retirement. This is known as a ‘lifecycle investment strategy’.
TelstraSuper's MySuper Lifecycle consists of four age-based investment stages as shown in the table below. The account balance and contributions of TelstraSuper MySuper members will be invested in the relevant age-based investment stage, then, as the member ages, their balance will automatically be moved to the relevant investment stage in the arrangement. No buy/sell spread is charged on automatic MySuper transfers.
|Member age||MySuper investment stage|
|Under 50||MySuper Growth|
|50 to under 65||MySuper Balanced|
|65 to under 70||MySuper Moderate|
|70 and over||MySuper Conservative|
Who can invest in TelstraSuper MySuper
TelstraSuper's MySuper Lifecycle is TelstraSuper's default investment strategy. This means members who don't make an investment choice are automatically placed in TelstraSuper's MySuper Lifecycle when they join TelstraSuper. These members can then choose to stay in MySuper or elect another investment option(s). Members who have made investment choice can also elect to invest some or all of their super in MySuper. Member-elected investment switches in and out of TelstraSuper's MySuper Lifecycle incur the usual buy/sell spread.
Fees, costs and benefits
TelstraSuper's MySuper Lifecycle has the same fees and costs as existing products and TelstraSuper MySuper members will enjoy all the same benefits and services as other members. For more information about TelstraSuper's MySuper Lifecycle refer to the TelstraSuper Corporate Plus Product Disclosure Statement and TelstraSuper Personal Plus Product Disclosure Statement.
TelstraSuper MySuper product dashboard
For a snapshot of investment performance, risk, and fees and costs associated with TelstraSuper's MySuper arrangement, see the TelstraSuper MySuper product dashboard.
More information about MySuper
MySuper aims to provide a simple, transparent product which members and employers can easily compare using a set of standardised features. These standardised features include:
A single diversified or lifecycle investment strategy
As outlined above, TelstraSuper's MySuper Lifecycle is offered lifecycle investment option.
A prescribed list of fees
The fees that can be attributed to a MySuper account are limited. The main fees include:
- an administration fee
- an investment fee
- insurance premiums
- an advice fee.
Death and Total & Permanent Disablement (TPD) insurance, offered on an opt-out basis
All funds must disclose fees and investment performance, allocation and risk in a set format which will enable easier comparison by members and employers. This is displayed in the TelstraSuper MySuper Product Dashboard.Past performance is not a reliable indicator of future performance.