Yes, you can change your investment option as often, or as little, as you like.

A buy/sell spread may apply when switching your investment options. 

The easiest way to change your investment options is by:

• logging in to SuperOnline
• choosing “Investment choices”
• clicking “Update investment choice”.

You can choose from a broad range of options to ensure that your super savings are invested in the option that best suits you. 

For more information on the investment options available to you, visit the investment options pages. 

  What are your investment options?

Checking your super balance is easy. You can find out how much super you have in two ways:

1. Online via SuperOnline
   Access your current balance any hour of the day. Simply log in to SuperOnline and choose 'Balance'.
2. Call us on 1300 033 166
   Our Member Services Consultants can provide you with your current balance between 8.30am and 5.30pm, Monday to Friday (Melbourne time).

Of course, your annual  statement also provides a record of your benefit. You can choose to receive your statements online.

You can also access historical statements via your SuperOnline account or by calling 1300 033 166. 

In a super account there are three types of beneficiaries you can nominate – a binding or a non-binding beneficiary, or a reversionary beneficiary (RetireAccess income stream account).  There are two ways you can update your beneficiaries:

1. Download a Nomination of Beneficiaries form to make a binding or non-binding nomination. Return the completed form to TelstraSuper. At PO Box 14309, Melbourne Vic 8001 or email to contact@telstrasuper.com.au
2. Log in to your SuperOnline account to update or change your non-binding beneficiaries online.
3. A reversionary beneficiary nomination can only be made at the commencement of a TelstraSuper RetireAccess account via the TelstraSuper RetireAccess Application form. Once a TelstraSuper RetireAccess account with a reversionary beneficiary has commenced, you can only change or remove your reversionary beneficiary nomination by closing that account and commencing a new account with a new beneficiary nomination.

Am I eligible to set up a TelstraSuper RetireAccess income stream?

You can use your super to open a TelstraSuper RetireAccess income stream provided you have at least $10,000 in your account and you meet one of the following criteria:

• you have reached preservation age (the age the Government allows you to access your super)

Or

• you have applied and been approved to receive a Total & Permanent Disablement benefit.

You can open a RetireAccess income stream even if you’re still working and have met your preservation age through a transition to retirement strategy.

Find out more about a TelstraSuper RetireAccess income stream.

Yes, you can remain a member of TelstraSuper throughout your life. When you leave Telstra we’ll automatically change your membership type from corporate to personal. Just make sure you update your personal details including email and postal address in SuperOnline so we know where to find you. You can then have your new employer pay your super into your TelstraSuper account. Simply fill in our quick online form which will send your new employer the information they need to start contributing to TelstraSuper. There will be some changes to your insurance when you cease employment with Telstra, you can read about those here.

Update your Personal Details

Nominate TelstraSuper

When you left the fund you were issued an exit statement with details of your account at the time of closure, however if you would like copies of previous statements please complete our Contact form or call us on 1300 033 166.

Yes you can. By putting your super into one account you will pay just one set of administration fees, competitive investment fees and reduce the headache of having your super in different accounts. Plus - we won't charge you any fees for transferring your money into TelstraSuper. Save yourself the hassle - consolidate your super today.
If you are a Defined Benefit member, any super you transfer from another fund will be rolled into your Voluntary Accumulation Account (VAA). If you do not already have a VAA one will be set up for you.

Find out more about how to consolidate your super and get your super under one roof. 

Locate and combine your super accounts

You’ll need to give your new employer the details of your TelstraSuper account. You can do this by either emailing your employer using our online form or completing a print form and giving it your employer directly. If you have any problems you can call us on 1300 033 166.

Nominate TelstraSuper

There are a few easy ways to contribute to your super account. The type of contribution you should make depends on your circumstances.  If you earn below a certain salary post-tax contributions could be more suitable and you may be eligible for a government co-contribution.  Whereas if you earn above a certain salary, pre-tax contributions may provide tax savings. 

• Pre-tax contributions: if you’re working, speak to your payroll area to set up ongoing contributions into your TelstraSuper account. You just need to let them know how much you want to contribute each pay period. 
• Post-tax contributions: make contributions by BPAY or cheque. You can set up ongoing contributions with your BPay. 

To find out more about the different types of contributions you can make, visit the contributions page of our website. To see what kind of contribution may suit you best try our pre vs post tax calculator. 

Boost your super

Calculate Pre-tax vs post-tax contributions

Contributions credited to the TelstraSuper’s bank account are generally applied to the relevant member’s account within 3 business days. Any interest earned on the balance of the TelstraSuper’s bank account is credited to the TelstraSuper’s Administration Reserve, which is used to support administration services provided to members.

Yes, there are limits on the amount of pre-tax and post-tax contributions you can make to your account.

Limit for pre-tax contributions for the 2023/2024 financial year is:

• $27,500 per year

Find out more about pre-tax contribution limits, and what’s included in the cap and how your contribution is taxed.

The post-tax contributions cap for the current financial year is $110,000 pa per person.

If you are under 75* years of age at any time in a financial year, you are able to bring forward two years of post-tax contributions and make a lump sum contribution of $330,000 in one financial year. So if you make a $330,000 contribution during the 2023/2024 financial year, you will not be allowed to make any further post-tax contributions until the 2026/2027 financial year.

Find out more about post-tax contribution limits, and what’s included in the cap and how your contribution is taxed.

Managing your contributions

*Includes the period up to 28 days after the end of the month in which you reach age 75.

To make post-tax (non-concessional) contributions to your super account you’ll need your unique BPAY reference number. You can get this by using your member number and our BPAY code generator. You only need to do this once – the number remains the same every time you want to use it to make a contribution. You can get BPay numbers to make post-tax contributions into your account (these may be eligible for government co-contributions) and spouse contributions.

Start contributing with BPAY

You can make contributions into your partner's account (often referred to as spouse contributions but you don’t need to be married to make them). You’ll need their unique BPAY reference number. You can get this by entering their member number into our BPAY code generator. You can then make BPAY contributions into their account using this number at any time. Spouse contributions may be eligible for a tax rebate depending on your partner’s salary.

Start contributing with BPAY

The best approach depends on your personal and financial situation.

Pre-tax contributions, also known as concessional contributions can have significant tax savings. Benefiting from making pre-tax contributions will depend on factors such as your marginal tax rate.

Post–tax contributions, also known as non-concessional contributions, are any contribution made after your salary is taxed. There are advantages to making post-tax contributions, such as the government co-contribution scheme and spouse tax offset. The benefits you receive from these depend on you and your spouse's income earnings.

Try our Pre-tax vs post-tax contributions calculator and Retirement Lifestyle Planner to compare the difference each type of contribution will make to your final balance.

Calculate Pre-tax vs post-tax contributions

Launch the retirement Lifestyle Planner

Your defined benefit is calculated according to a particular formula. Here’s how it works:

• Accrual % rate is linked to your elected contribution rate
• Your benefit multiple is based upon the rate or rates at which you contribute to your defined benefit and for how long you contribute at that particular rate. (see the question “How is my multiple calculated?” for further clarification)
• Final Average Super Salary (FAS) is calculated using the average of the last three years of super salary at your birthday. The benefit payable to you must be equal to or greater than the benefit required under Superannuation Guarantee (SG) legislation. This means that the benefit payable to you will be the greater of your defined benefit and SG benefit. The SG benefit is the minimum amount of superannuation support your employer must provide to you by law.

TelstraSuper Division 2 defined benefit members may elect to contribute between 0% and 10% in multiples of 1%. The amount you contribute will impact the accrual percentage rate used to calculate your retirement benefit, as shown:

Everyone’s situation is different, so how much you should contribute is a personal choice. However, in most situations, maintaining an average contribution rate of 5% over the period of your defined benefit membership is the optimum amount to contribute to maximise your employer support and benefit. As Table A shows, when your average contribution rate falls below 5% there is an opportunity to ‘catch up’ by making contributions between 6% and 10%. Table B shows that once you reach an average contribution rate of 5%, additional contributions above 5% don’t attract additional employer support.

It’s important to realise that the notional employer superannuation contribution amount won’t change if you elect to change your contribution rate.

When considering what contribution rate you should elect, you need to consider:

• your current average contribution rate;
• your potential future salary growth; and
• any potential loss in grandfathering of your notional taxed contributions.

There is further information about grandfathering in the TelstraSuper Division 2 Super Guide.

A TelstraSuper Financial Advisor can assist you in choosing the right contribution rate for you. Call us on 1300 033 166.

Everyone’s situation is different so it’s important to consider your own personal situation when deciding whether to stay in defined benefit or move to an accumulation account and seek appropriate financial advice.

You should consider:

• your current average contribution rate, particularly if your average contribution rate is below 5%
• the cost against your package compared with the accumulation scheme
• your expected growth in super salary and subsequent expected growth in Final Average Salary (FAS), as this will impact the growth in your defined benefit value
• your desire for certainty of benefit versus risk of investment loss
• your appetite for exposure to the investment markets to achieve potentially higher returns
• insurance cover
• if you’d like to start a Transition To Retirement income stream, if you’re still working

TelstraSuper Financial Planning can help you consider your situation. Call 1300 033 166 to speak with an Adviser.

No, the notional employer superannuation contribution amount can’t be reduced to the minimum Super Guarantee rate to receive more cash salary. The only way to do this is to leave the defined benefit scheme and move to the TelstraSuper Corporate Plus accumulation scheme.

If you leave Telstra, whether to retire or to go to another job, your account balance will be transferred into our accumulation product, TelstraSuper Personal Plus. If you’ve retired, the funds can be used to set up a TelstraSuper RetireAccess income stream account. If you’re leaving Telstra because of redundancy you can find out what will happen with your defined benefit.

Here’s how it works

Your account	Your insurance
Benefit calculated on final day of employment at Telstra
Transfer automatically to TelstraSuper Personal Plus	Base default and top-up death and TPD cover transferred to TelstraSuper Personal Plus
Defined Benefit portion invested in Cash option for 90 days, then invested in MySuper lifecycle default or the Voluntary Accumulation Account previously elected investment option	Premiums become member paid
VAA investment option stays unchanged	Can apply for income protection when continuously employed with new employer
Benefit calculation details mailed out

The insurance cover you have depends on the product you’re in. The insurance cover that is available in some of our products is Death, Total & Permanent Disablement and Income Protection.  

It’s important to review your insurance from time to time – especially when you have any changes in your life (such as getting married, taking on a mortgage, having children or separating from your spouse).  You can get an estimate on how much insurance cover you may need by using our needs calculator by logging into your online account or at www.telstrasuper.com.au/information-hub/calculators/insurance-premium-and-cover-calculator. 

You need to be aware that your insurance will be cancelled if your account is ‘inactive’ for 16 months or longer. This is because accounts that have received no contributions or roll-ins for a continuous period of 16 months are considered ‘inactive’ and any insurance will be cancelled unless you notify us that you wish to keep this insurance. You can elect to keep your insurance by notifying us via the Elect to keep your insurance cover form.  If your account is inactive, we’ll notify you in writing before cancelling your insurance.

If your cover is cancelled due to inactivity, you will have the opportunity to reinstate your cover, by requesting this in writing within 60 days of the date the cover was cancelled and making a payment into your account, if applicable.

If you wish to keep your insurance cover through TelstraSuper, you’ll need to ensure you have enough funds in your account to cover premiums or your insurance cover will be cancelled. It’s important to consider the impact of your insurance premiums on your super balance as they will reduce the amount of money you have in retirement. You should consider your own personal situation to determine if having insurance cover in TelstraSuper is right for you. You can receive advice about the insurance in your TelstraSuper account over the phone at no additional cost as this is included in your membership.

You can review how much cover you have by logging into your SuperOnline account* or giving us a call on 1300 033 166.

You can also find out more about insurance in the insurance section of our site or download the relevant Insurance Guide and Product Disclosure Statement for further details.

Calculate insurance premiums and cover

More Insurance Answers?

*If eligible. Eligible member are members with an account that allows insurance cover to be applied under an insurance policy and who are registered users of SuperOnline. Eligible members must also have a valid email address and must reside in Australia.

 

TelstraSuper offers members the following types of cover depending on your super arrangement. Your insured benefit depends on how much cover you have and on your eligibility which is outlined in your Insurance Guide. 

• Death insurance – can provide your dependants or legal personal representative with a lump sum payment in the unfortunate event of your death.
• Terminal illness benefit – A terminal illness payment is the early payment of your death benefit upon diagnosis of a terminal illness (as defined in your Insurance Guide) and where you have a life expectancy of less than 24 months. You can also apply for the release of your account balance if you have a terminal medical condition (as defined in your Insurance Guide) that is likely to result in your death within 24 months.
• Total & Permanent Disablement (TPD) insurance – can provide a lump sum benefit to you if you suffer from an accident or sickness that causes total and permanent disablement (as defined in your Insurance Guide).
• Income Protection insurance – can provide you with a partial replacement income while you’re temporarily unable to continue performing the regular duties of your regular occupation due to an accident or sickness. The replacement income is up to 75% of your salary, with an additional 10% of your income paid towards your super. This benefit may be varied by offsets and additional income as defined by the applicable policy terms and conditions.

To find out what insurance is available view the table below:

Membership category	Default Death cover	Voluntary Death cover	Default TPD cover	Voluntary TPD cover	Income Protection cover*	Transfer external cover to TelstraSuper	Life Events cover
TelstraSuper Corporate Plus Members who work for Telstra or related company	✓	✓ †	✓	✓ †	✓ †	✓*	✓
TelstraSuper Personal Plus Members who have left Telstra or a related company or relatives of TelstraSuper members	✓	✓	✓	✓	✓	✓	✓
TelstraSuper RetireAccess®^ Members receiving an income stream	✓	✓	✘	✘	✘	✓	✓  (under age 65)
TelstraSuper Division 2  Defined Benefit members	✓	✓	✓	✓	✘	✓	✘
TelstraSuper Division 5 Defined Benefit members	✓	✓	✓	✓	✓	✓	✘

* Only available to members employed on a full-time or permanent part-time basis. Not available to members in casual employment.
^TelstraSuper RetireAccess Term Allocated Pension members are not entitled to any insurance cover.
† If you identify as non-binary, eligibility will depend on you affirming a binary gender via the ‘Gender affirmation and insurance opt-in’ form.  This is because the relevant premiums are based on binary gender (male/female) pricing. The ‘Gender affirmation and insurance opt-in form’ is available by contacting TelstraSuper on 1300 033 166.

Do you have a plan for how you or your family would meet mortgage and loan payments, pay bills and cover day-to-day expenses without your salary coming in should you die or become disabled? If the answer is no, then you could be leaving yourself or your family open to serious financial hardship. Insurance cover may assist by providing a financial safety net for you and your family and, importantly, help you to maintain your current lifestyle.

The needs calculator can provide you with an estimate of the type of cover and amount of cover you might need based on the information you provide about your circumstances. 

TelstraSuper members can access simple personal advice about their insurance over the phone at no additional cost as part of their membership. You may wish to discuss your insurance needs with a financial adviser from TelstraSuper Financial Planning.

You can get cover, even if money is tight. It's easy to manage because depending on which division you’re in, premiums are either paid for by your employer, or are automatically deducted from your super account at the end of each quarter.

By having insurance cover through TelstraSuper, you potentially save money compared to insuring yourself individually through a retail policy, as TelstraSuper negotiates bulk rates for our members. Check your Product Disclosure Statement to see what cover you may be eligible for.  Also, a 15% rebate will be credited to your account for any insurance premiums you pay for.

It’s important to consider the impact of your insurance premiums on your super balance as they will reduce the amount of money you have in retirement. You should consider your own personal situation to determine if having insurance cover in TelstraSuper is right for you. You can receive advice about the insurance in your TelstraSuper account over the phone at no additional cost as this is included in your membership.

The needs calculator can provide you with an estimate of the type of cover and amount of cover you might need based on the information you provide about your circumstances.

TelstraSuper members can access simple personal advice about their insurance over the phone at no additional cost as part of their membership. You may wish to discuss your insurance needs with a financial adviser from TelstraSuper Financial Planning.

You can also use our needs calculator to estimate the type of cover and amount of cover you might need based on the information you provide about your circumstances.

A general rule of thumb is to base your cover on how much you’d require to replace your projected income over your working life, while factoring in potential costs such as debts, any major future expenses and education costs for children.

TelstraSuper members can access financial advice about their insurance over the phone at no additional cost as part of their membership. You may wish to discuss your insurance needs with a financial adviser from TelstraSuper Financial Planning. 

You can also use our needs calculator to estimate the type of cover and amount of cover you might need based on the information you provide about your circumstances.

The insurance cover you can apply for depends on the product you have, your age and your medical history. Read the relevant Product Disclosure Statement or Guide for your product. You can also find out more about the insurance we offer.

Depending on your super arrangement, your employer may pay your default Death & TPD premiums and Income Protection premiums, providing you have your Superannuation Guarantee (SG) contributions paid into your TelstraSuper account. You may need to opt in to this insurance within 120 days of starting your employment.

Membership category	Default Death cover	Voluntary Death cover	Default TPD cover	Voluntary Death cover	Income Protection cover
TelstraSuper Corporate Plus	Employer may pay#	Member	Employer may pay#	Member	Usually, Member*
TelstraSuper Personal Plus	Member	Member	Member	Member	Member
TelstraSuper RetireAccess	Member	Member	NA	NA	NA
TelstraSuper Division 2	Employer may pay	Member	Employer may pay	Member	NA
TelstraSuper Division 5	Employer may pay	Member	Employer may pay	Member	Employer may pay

Note: Any premiums your employer pays counts towards your concessional contributions caps.

* For employees of Foxtel, your employer pays your Income Protection premiums for the default level of cover
# Except for employees of Sensis (new employees from 1 July 2014), 1300 Australia, Chief Entertainment and Telstra SNP Monitoring, Telstra Health and Telstra Purple (new employees from 1 June 2019) where premiums will be deducted from your account quarterly in arrears or on withdrawal if you leave TelstraSuper Corporate Plus. It also excludes members who don’t have their Superannuation Guarantee (SG) contributions paid to TelstraSuper.

The premiums for any insurance cover which you pay for yourself are deducted in arrears from your TelstraSuper account at the end of each quarter, when you transfer to another TelstraSuper product or when you transfer to another TelstraSuper account or on withdrawal when you leave the fund. A 15% rebate will be credited to your account for any insurance premiums you pay for.

Insurance premiums are calculated by factors such as your age, gender (for voluntary cover), membership division, salary (for Corporate Plus members) and cover type. Your insurance premium details are available through your TelstraSuper online account. 

You can use our needs calculator to estimate the type of cover and amount of cover you might need based on the information you provide about your circumstances.

The  premiums calculator can help you estimate the cost of any new cover you’re thinking about. Depending on the division you are in, premiums can be either stepped which means they will generally increase each year as you get older, or fixed as an annual premium amount and reducing insurance cover as your age increases.  You may also have a combination of both premium types. To estimate the cost of premiums, please log into your online account or visit our premium calculator. A 15% rebate will be credited to your account for any insurance premiums you pay for.

Members who pay for their insurance premiums from their super accounts receive a 15% rebate into their account. The rebate is credited to the accounts of eligible members at the end of each quarter, when they leave TelstraSuper or transfer their super to another TelstraSuper account. The rebate doesn’t apply to any premiums paid for by employers.

Default cover is the base level amount of cover that is determined by a member’s age, membership division and employment status at the time cover commences, as detailed below.

• TelstraSuper Corporate Plus: when members join TelstraSuper, eligible members receive Death & TPD cover based on their age, salary and a pre-determined multiplier, subject to any opt-in conditions. Members who are required to opt-in, will retain their insurance even if they transfer to a different TelstraSuper product. Refer to our premium calculator by logging into your online account or the TelstraSuper Corporate Plus Insurance Guide to help calculate your default Death & TPD cover.
• TelstraSuper Personal Plus: when members join TelstraSuper Personal Plus, members can apply for one unit of default Death & TPD cover which is pre-determined by their age. Please refer to our premium calculator by logging into your online account or the TelstraSuper Personal Plus Insurance Guide to help calculate your base default Death & TPD cover.

Transferring Members

If you transfer into the Personal Plus division from another division, you will receive insurance cover equal to the default base cover you held previously (subject to policy criteria and conditions) and new premium rates will apply.  You will need to pay for this insurance cover and the premium will be based on a weekly unitised rate. A 15% rebate will be credited to your account for any insurance premiums you pay for. This cover will decrease as you get older. Base cover is determined by your age as at the last 1 July**.   Any Voluntary Cover* that you had will also be transferred and will be based on the applicable TelstraSuper Personal Plus Voluntary Cover rates.

** Refer to the TelstraSuper Personal Plus Insurance Guide for the amount of age-based Death & TPD cover eligible members can receive.
* Voluntary cover is cover that is obtained by satisfying our underwriting requirements and which is not top-up cover or default cover.

If you are under 25 years of age or have an account balance that is less than $6,000, you will be required to complete an Opt-in Member paid default insurance cover form within 120 days of commencing employment in order to receive member paid default cover. If you have previously completed the Opt-in form or otherwise made an election, this will not be required.

If you had Income Protection cover, this cover is temporarily transferred and to retain it you must meet our eligibility requirements.

In order to retain the Income Protection cover that you had in another division of the Fund, you will need to:

1. Commence permanent employment with a new employer; and
2. Complete a Continuing Income Protection form and submit it to TelstraSuper within 120 days of leaving your Telstra Group employer; and
3. Arrange for your new employer to pay a superannuation guarantee contribution into your new TelstraSuper Personal Plus account within 180 days of leaving your Telstra Group employer; and
4. If you are under 25 years of age or have an account balance that is less than $6,000, complete an Opt-in Member paid default insurance cover form within 120 days of commencing your new employment. 

You will receive a letter from TelstraSuper confirming your insurance details including premiums and what you need to do to keep your Income Protection insurance in TelstraSuper Personal Plus.  If you don’t opt-in within this time you will need to go through underwriting before insurance can be approved.

Voluntary cover is any cover above your default cover (which is not top-up cover) which you have been approved for by our insurer MLC Life Insurance.

Your eligibility for Income Protection cover depends on which division you’re in. Generally, if you’re in TelstraSuper Corporate Plus (you work for Telstra or a Telstra related employer) you will have the opportunity to opt-in for member-paid Income Protection insurance. You may also have the opportunity to apply for Income Protection if you’re in Personal Plus (for members who used to work at a Telstra employer but don’t anymore, or family members of Telstra employees).

Transferring Income Protection cover eligibility requirements 

If you had Income Protection cover, this cover is temporarily transferred to Personal Plus subject to eligibility criteria, conditions and exclusions contained in the relevant insurance policy. To retain this cover:

• you must have commenced new employment as a permanent employee;
• you can apply to continue your Income Protection cover via your online account* or by completing and returning the Continuing Income Protection form to TelstraSuper within 120 days of leaving your former employer;
• you must arrange for your new employer to pay a Superannuation Guarantee (SG) contribution into your TelstraSuper account within 180 days of leaving your former employer; and
• make an election to opt-in if you are under age 25 or have an account of less than $6,000 at the time of transfer

If you do not meet any of the above requirements, your cover will be cancelled, we'll refund any premiums paid during either the 120 or 180 days and you'll need to re-apply for if you wish to be covered.  

*if eligible. Eligible members are members with an account that allows insurance cover to be applied under an insurance policy and who are registered users of SuperOnline. Eligible members must also have a valid email address and must reside in Australia.

If you are a TelstraSuper Corporate Plus member and you identify as non-binary, eligibility will depend on you affirming a binary gender via the ‘Gender affirmation for insurance purposes’ form. This is because the relevant premiums are based on binary gender (male/female) pricing. Check the Product Disclosure Statement for more information.

You can find out if you have Income Protection cover by logging into your SuperOnline account or giving us a call on 1300 033 166. 

You can find out more about insurance, including eligibility in the insurance section or download the relevant Insurance Guide and Product Disclosure Statement for further details.

Check your insurance

Are you eligible?

 

Depending on your super arrangement you may be able to apply for voluntary Death only or Death & TPD insurance cover without providing any health evidence:

• as a result of a significant event occurring in your life, such as getting married, buying a home, milestone birthdays or welcoming a new child(ren) to family*. You’ll need to complete a Life Events Insurance Application form within 90 days of the specified event. For full details of life events covered and other conditions refer to your Insurance Guide.
• if you currently have insurance cover through another super fund or life insurance company. To transfer your external cover to TelstraSuper, you’ll need to complete a Transfer External Insurance Application form.
• As a Special offer for Corporate Plus members, if you have Default Cover, you can apply to increase your Death & TPD Cover and change your Income Protection waiting and/or benefit periods without the need for health evidence, provided you choose to do so within 120 days of commencing with your Telstra Group employer. To take advantage of this special offer, complete the Insurance Special Offer form or call us.

By applying and being approved for this insurance cover, you are electing to keep your member paid insurance cover even if your account becomes inactive, the account balance is less than $6,000 or you are under 25 years of age. This election will continue to apply if you transfer to a different TelstraSuper product. For more information about making an election see your relevant Insurance Guide.

If you identify as non-binary, eligibility will depend on you affirming a binary gender via the ‘Gender affirmation for insurance purposes’ form. This is because the relevant premiums are based on binary gender (male/female) pricing. 

Membership category	External transfer	Life event
TelstraSuper Corporate Plus	yes	yes
TelstraSuper Personal Plus	yes	yes
TelstraSuper RetireAccess	yes	yes (under age 65)
TelstraSuper Division 2	yes	no
TelstraSuper Division 5	yes	no

*For other life events, refer to the relevant insurance policy or Insurance Guide.

You can apply for voluntary Death only or Death & TPD insurance cover anytime subject to underwriting requirements. You can apply by logging into your account* or by completing an Insurance Telephone Application Request form. All premiums for voluntary cover are deducted in arrears from your TelstraSuper account at the end of each quarter, when you transfer to another TelstraSuper product, or on withdrawal when you leave the fund. A 15% rebate will be credited to your account for any insurance premiums you pay for.

*If eligible. Eligible member are members with an account that allows insurance cover to be applied under an insurance policy and who are registered users of SuperOnline. Eligible members must also have a valid email address and must reside in Australia.

Once your application has been received, MLC Life Insurance will contact you for an underwriting interview by phone. They will seek additional medical, occupational and general information where necessary in order to assess your application. Once their underwriting assessment is complete, we will inform you of the outcome. Any additional cover offered to you may include the following:

• Occupational Loadings – these are an increase to the premium as a result of the risk category assigned to your occupation.
• Medical Loadings – these are an increase to the premium as a result of the risk category assigned to your medical history.
• Exclusions – MLC Life Insurance may apply medical exclusions to your voluntary cover for which coverage is not provided in the event of a claim where the condition is directly or indirectly caused by the medical exclusion noted.

 If you identify as non-binary, eligibility will depend on you affirming a binary gender via the ‘Gender affirmation for insurance purposes’ form. This is because the relevant premiums are based on binary gender (male/female) pricing.

Top-up cover is:

• cover that was classified as top-up cover under a former insurance policy with TelstraSuper; or
• an amount of cover provided in addition to default cover upon a defined benefit member transferring into TelstraSuper Corporate Plus since 2014. 

If you transfer from the Defined Benefit to Corporate Plus you will be allocated a value of top up cover that is the difference between the new default cover in Corporate Plus and the value of your prospective service benefit held in your Defined Benefit as well as any voluntary cover you might have been approved for.

Opting In

If you are under 25 years of age or have an account balance that is less than $6,000 as at the transfer date, you will be required to complete an Opt-in Member paid default insurance cover form in order for your cover to transfer into the new arrangement. You will be sent this form if you are in this situation. If you have previously completed the Opt-in form or otherwise made an election, this will not be required.

If you are a TelstraSuper Corporate Plus member and you identify as non-binary, eligibility for some cover will depend on you affirming a binary gender via the ‘Gender affirmation for insurance purposes’ form. This is because the relevant premiums are based on binary gender (male/female) pricing. Check the Product Disclosure Statement for more information.

Insurance type	Sum insured
Death	Unlimited, subject to insurance underwriting requirements.
TPD	Maximum of $5m however it cannot be higher than your Death cover sum insured.

For any new insurance policy there is a 30 day cooling off period. After this time, you can cancel or reduce the amount of cover you have by calling us on 1300 033 166 or completing a Cancel or Reduce Insurance form. You can also cancel your insurance through your SuperOnline account.

It's important to note that if you cancel any insurance, including any default cover, and wish to reapply at a later date, evidence of your occupation, health and lifestyle will need to be provided to MLC Life Insurance for assessment. MLC Life Insurance may place an exclusion or premium loading on cover or may decline cover as a result of their assessment.

If you cancel your cover: 

• you will not be able to make a claim for insurance benefits for events or conditions that arise after your cover has cancelled
• we will no longer deduct insurance premiums for the cover you have cancelled
  
• your ability to restart your cover may be subject to health assessment and acceptance by our insurer who may place an exclusion or premium loading on cover and you may not be able to get cover
  
• if you are replacing your cover with alternative cover, you should not cancel until the replacement cover is in place.

Before you cancel your insurance you may wish to discuss your decision with a financial adviser from TelstraSuper Financial Planning on 1300 033 166.

It depends on your super arrangement.

If you have Income Protection and are a TelstraSuper Corporate Plus or  TelstraSuper Division 5 – Defined Benefit member your employer confirms your salary details once a year to TelstraSuper. If your salary has changed your Income Protection cover and premiums will be automatically adjusted and will be reflected on your statement and in your online TelstraSuper account.

Income protection benefits and premiums for TelstraSuper Personal Plus members is based on your salary at the date of your application for cover. Therefore, if you’re a TelstraSuper Personal Plus member and, your salary increases and you wish to be covered for the increased amount, you’ll need to be underwritten by MLC Life Insurance for the increased amount.  To do this, you can apply online* by logging into your online account or by completing an Insurance Telephone Application Request form. If your salary has decreased or you’re no longer working, then you’ll need to complete a Cancel or Reduce Insurance form so you’re not paying unnecessary premiums. You can also cancel your insurance via your online account.

*If eligible. Eligible member are members with an account that allows insurance cover to be applied under an insurance policy and who are registered users of SuperOnline. Eligible members must also have a valid email address and must reside in Australia.

Subject to any opt-in requirements, any Death, TPD or Income Protection cover you had will be transferred to a TelstraSuper Personal Plus account (along with your account balance) and premiums will be deducted in arrears from your TelstraSuper account at the end of each quarter, when you transfer to another TelstraSuper product or on withdrawal when you leave the fund. A 15% rebate will be credited to your account for any insurance premiums you pay for.

To receive this cover, you may need to opt-in within 120 days of leaving your previous employer. If you don’t opt-in within this time you will need to go through underwriting before insurance can be approved. 

If you have Income Protection cover, you will need to:

1. complete a Continuing Income Protection form within 120 days of leaving your Telstra Group or Telstra-approved employer; and
2. provide details of your new salary and occupation details; and
3. arrange for your new employer to pay your Superannuation Guarantee contributions into your new TelstraSuper Personal Plus account within 180 days of leaving your Telstra Group or Telstra-approved employer.  

You will receive a letter from TelstraSuper confirming your insurance details including premiums and what you need to do to keep your Income Protection insurance in TelstraSuper Personal Plus.

If you identify as non-binary, eligibility will depend on you affirming a binary gender via the ‘Gender affirmation for insurance purposes’ form. This is because the relevant premiums are based on binary gender (male/female) pricing.

Find out more about your insurance when you leave your Telstra employer. 

There is no set minimum balance to maintain insurance cover however sufficient funds are required to cover any administration fees, taxes and insurance premiums. If your account balance gets low and you are at risk of your insurance cover being cancelled, we'll notify you.

It’s important to be aware that your insurance will be cancelled if your account is ‘inactive’ for 16 months or longer at any time and you haven't elected to maintain your insurance. You can elect to keep your insurance by notifying us via the Elect to keep your insurance form.  If your account is inactive we’ll notify you in writing before cancelling your insurance.

If your cover is cancelled due to inactivity, you will have the opportunity to reinstate your cover, by requesting this in writing within 60 days of the date the cover was cancelled and making a payment into your account, if applicable.

If you leave the Telstra Group, whether to retire or to go to another job, your account balance will be transferred into our accumulation product, TelstraSuper Personal Plus. If you’ve retired, the funds can be used to set up a TelstraSuper RetireAccess income stream account. If you’re leaving the Telstra Group because of redundancy you can find out what will happen with your defined benefit.

Subject to any opt-in requirements, any Death, TPD or Income Protection cover you had will be transferred to a TelstraSuper Personal Plus account (along with your account balance or your defined benefit, if you transferred from the Defined Benefit) and premiums will be deducted in arrears from your TelstraSuper account at the end of each quarter, when you transfer to another TelstraSuper product or on withdrawal when you leave the fund.  A 15% rebate will be credited to your account for any insurance premiums you pay for .  

To receive this cover you may need to opt-in within 120 days of leaving your previous employer. If you don’t opt-in within this time you will need to go through underwriting before insurance can be approved. 

If you have Income Protection cover, you will need to:

1. complete a Continuing Income Protection form within 120 days of leaving your Telstra Group employer; and 
2. provide details of your new salary and occupation details; and
3. arrange for your new employer to pay your Superannuation Guarantee contributions into your new TelstraSuper Personal Plus account within 180 days of leaving your Telstra Group employer

You will receive a letter from TelstraSuper confirming your insurance details including premiums and what you need to do to keep your Income Protection insurance in TelstraSuper Personal Plus.

TelstraSuper offers world-wide cover, subject to applicable insurance policy conditions. Cover shall be provided 24 hours a day for all eligible insured members who are Australian residents while in Australia or overseas. Please call us if you would like a copy of the policy document or view them online.

Note: existing members will not be covered for insurance if they move indefinitely to another country.

MLC Limited (MLC Life Insurance) is the current Underwriter and Insurer for TelstraSuper. Claims made before 1 July 2020 are underwritten and assessed by TAL.

The insurance statement provides you with a summary of the insurance you hold through your TelstraSuper account. It includes the type of cover you have, the sum insured, the annual member paid premiums and annual employer paid premiums, if any. It also breaks down the amount of default and voluntary cover you have and any loadings and exclusions which apply.   

The Insurance in Superannuation Voluntary Code of Practice was launched in 2018. Since 2018, regulatory and legislative reforms introduced by the Government have replaced most of the measures from the voluntary code of practice. In particular, the Protecting Your Super package and Putting Members’ Interests First legislation have made substantial sections of the code redundant. Our insurance statement meets the Code’s requirements.  It provides you with information you may need to help you understand your insurance through TelstraSuper and is the super industry’s commitment to high standards when providing insurance to members of superannuation funds. This is the first year the statement of insurance has been introduced.

Our website has more information on insurance cover offered by TelstraSuper, including FAQs, at: https://www.telstrasuper.com.au/products-and-services/insurance/your-insurance-cover-options

Registered users can also log into their SuperOnline account to view their insurance cover and cancel or reduce their insurance cover.

You can also read the relevant Product Disclosure Guide and Insurance Guide, available on the website at https://www.telstrasuper.com.au/information-hub/product-disclosure-statements-and-guides 

Eligible members* can access TelstraSuper’s dedicated member insurance portal via their online account to view their insurance cover and submit and track insurance applications.

Members can also email us at underwriting@telstrasuper.com.au or call us on 1300 033 166 for more information regarding their insurance cover.

* Eligible members are members with an account that allows insurance cover to be applied under an insurance policy and who are registered users of SuperOnline. Eligible members must also have a valid email address and must reside in Australia.  Excludes Defined Benefit members.

Our website has information on how to submit an insurance claim, including FAQs and Claims Information Sheets.

Eligible members* can access TelstraSuper’s dedicated member insurance portal via their online account to view their insurance cover and submit and track insurance claims. Our member portal also provides members with access to a range of wellness programs offered by our Insurer, MLC Life Insurance.

Members can also email us at tsclaims@telstrasuper.com.au or call us on 1300 033 166 for more information regarding their insurance cover.

* Eligible members are members with an account that allows insurance cover to be applied under an insurance policy and who are registered users of SuperOnline. Eligible members must also have a valid email address and must reside in Australia. Excludes Defined Benefit members.

If you believe any of the information on your insurance statement is incorrect, please email us at contact@telstrasuper.com.au or call us on 1300 033 166.

There are several options for members to either apply for, vary, or cancel cover.

Online
Eligible members* can log in to their online account to access our dedicated member insurance portal to submit and manage their insurance applications online. You can also cancel or reduce your insurance cover via your SuperOnline account or via our dedicated member portal.

* Eligible members are members with an account that allows insurance cover to be applied under an insurance policy and who are registered users of SuperOnline. Eligible members must also have a valid email address and must reside in Australia. Excludes Defined Benefit members.

Application forms
Forms to apply for and/or vary insurance cover, as well as forms to cancel insurance cover, can be found here

Via email

Requests to manage your insurance cover can be made via email. Email us at underwriting@telstrasuper.com.au for more information.

By phone

Requests can be made over the phone to manage your insurance cover. Call us on 1300 033 166 for more information

The Code is the superannuation industry’s commitment to high standards when providing insurance to members of superannuation funds. The Code contains standards that we uphold on an ‘if not, why not’ basis when providing insurance benefits to our members and beneficiaries.

You can view the Code, including TelstraSuper’s transition plan to full compliance with the Code, on our website here.

The Cash investment option invests in a combination of bank deposits, negotiable certificates of deposit and other money market instruments. In order to optimise investment returns, some of these investments may have maturity dates of up to 12 months or slightly more into the future (although most are much shorter than that), so they are technically classified as Fixed Interest securities for the purpose of the Portfolio Holding Disclosure regulations. All of the securities held in the Cash portfolio are of high credit quality and highly liquid, and are commonly included in cash investment portfolios.

The Direct Access investment option allows members to invest in any Australian shares that form part of the S&P/ASX300 Index. The individual stock choices are made by the members themselves and the individual shares are not selected by the Trustee of the Fund. Therefore, the thermal coal exclusion does not apply to the Direct Access option.

As required by legislation, Portfolio Holding Disclosures are provided in a single CSV file format that includes all tables, asset classes and reporting requirements. As the reporting requirements for a particular asset class may differ from other assets classes, where a requirement is not applicable to a specific asset class, some headed columns will still be shown but are left intentionally blank as no relevant information is required to be inserted.

There is no switching fee for changing your investment option/s.

However, when you switch investment options, a buy-sell spread may apply. A buy-sell spread is a cost to recover the transaction costs related to the sale and purchase of assets.

The buy cost or sell cost ranges from 0.00% to 0.10%, depending on the investment option. The cost of the buy/sell spread is deducted in the calculation of unit prices at the time of the switch.

Buy-sell spreads don't apply to the Direct Access investment option. However, other fees such as activity fees may apply, which reflect transaction costs, brokerage or other services associated with investing via the Direct Access investment option. Please refer to the Direct Access PDS for more information regarding fees

Buy-sell spreads don't apply to the automatic, age-based investment switches within TelstraSuper's MySuper arrangement.

The easiest way to switch your investment is by:

• logging in to SuperOnline
• choosing “Investment choices”
• clicking “Update investment choice”.

A buy-sell spread is the cost of buying and selling investment units in the different investment options. It's similar, for example, to the brokerage costs you would pay if you were buying and selling shares - the cost of the transactions when you change your investments. The buy and sell prices of a particular investment option may differ due to the variable costs associated with buying or selling any underlying securities or assets. The difference in buy and sell prices (which is the aggregate of any buy cost and sell cost) is used to determine the buy-sell spreads.

The Property option is different to other investment options due to the illiquid nature of the underlying assets and the transaction costs associated with property investments.  

The fees and costs you pay depends on the membership category you're in.  As a not for profit fund we work hard to keep our fees competitive when compared to other super funds. There are no hidden fees. 

Find out more about possible fees and costs that you may be charged.

Fees and Costs

ABN stands for Australian Business Number and it’s used as a unique identifier – sort of like a tax file number but for a business. Businesses with an ABN are part of the Australian Business Register which is operated by the Australian Taxation Office.

Our ABN is 85 502 108 833.

USI stands for Unique Superannuation Identifier.

You might be asked to provide TelstraSuper’s USI when providing the details of your super account to a new employer. It can also be referred to as a “SPIN” or Super Product Identifier Number.

Our USI/SPIN is TLS0100AU.

As a not for profit fund we don’t charge entry, exit, contribution fees or commissions.  If you are coming from another fund, you may have a withdrawal fee in that fund, so you might want to refer to your current fund's product disclosure statement for details. 

Find out about the benefits of joining TelstraSuper, including our extensive range of value-added products and services.

Benefits of Joining

This is one of the most common questions we get asked.  The answer’s a personal thing. What’s enough for one person will differ for another.

To achieve the retirement lifestyle you want, it's best to plan early. However, everyone is different, so it’s important to consider things like:

• the age you want to retire
• the lifestyle you want to enjoy
• the income you want 
• other financial assets you have.

The Association of Superannuation Funds of Australia (ASFA) gives a guide for how much a person needs for a ‘modest’ or ‘comfortable’ lifestyle in retirement.  A comfortable retirement means you can have an annual holiday in Australia, eat out, buy good clothes and own a reasonable car.  If this sounds like what you’ll want when you finish work, then it’s a good starting point for what you’ll need saved in your super.  If you think you’ll want to do more (such as travel overseas every year) you’ll need to save more.

ASFA says to fund a comfortable retirement as a couple you’ll need $690,000 saved in your super. For a single person you’ll need $595,000.  TelstraSuper Financial Planning has estimated a guide for how much you may need, depending on when you want to retire and your annual income needs. 

Once you’ve got an idea of how much income you may need, you can then look at the different options available to help you get there. These include considering:

• your super and the retirement income options available to you,
• any other personal investments you might have, plus
• your eligibility for the Age Pension and other government benefits.

Have you tried our retirement income projector? It’s an industry-leading retirement income calculator, which allows you to estimate your projected super balance and whether you are likely to have an adequate retirement income.

Launch Retirement Lifestyle Planner

Preservation age is the age the Government allows you to access your super.  Your preservation age depends on your date of birth.  

Date of birth	Preservation age
Before 1 July 1960	55
1 July 1960 - 30 June 1961	56
1 July 1961 – 20 June 1962	57
1 July 1962 – 30 June 1963	58
1 July 1963 – 30 June 1964	59
After 30 June 1964	60

If you have reached preservation age and are considering withdrawing your money you should carefully consider the consequences, particularly given that super is tax-free on withdrawals from age 60 (provided your super is from a taxed source). You can open a retirement income stream – RetireAccess which will provide you with regular payments – much like the salary you earned while working.  This allows you to enjoy your retirement rather than worrying about managing your investments. 

TelstraSuper Financial Planning can advise you how best to maximise your super in line with your personal circumstances and obligations.

To make an appointment, call TelstraSuper Financial Planning on 1300 033 166 or request an appointment online.

Super is designed to support you in retirement so generally your super must stay in the system until you’re retired. 

You’re defined as "retired" if you’ve reached:

• preservation age (the age the Government allows you to access your super) and are retired permanently from work; or
• the age of 60 and have stopped working; or
• the age of 65 (whether you're still working or not).

When you retire you can take your super as a retirement income stream or a lump sum.  Although you’ll have access to your money, there may be tax implications if you remove it from the super system.

 You should carefully consider the consequences of withdrawing your money, particularly given that super is tax-free on withdrawals from age 60 (provided your super is from a taxed source). You can open a retirement income stream – RetireAccess which will provide you with regular payments – much like the salary you earned while working.  This allows you to enjoy your retirement rather than worrying about managing your investments. 

TelstraSuper Financial Planning can advise you how best to maximise your super in line with your personal circumstances and obligations.

To make an appointment, call TelstraSuper Financial Planning on 1300 033 166 or request an appointment online.

Talk to an adviser

Retirement income?

Transition to Retirement is a strategy that allows people to access an income stream once they reach preservation age (this is the age that the Government allows you to access your super – it’s based on your date of birth) and are still working.

The Transition to Retirement legislation was introduced to help people ease into retirement; by cutting back on working hours and supplementing any reduced income through their super. It also allows people who are approaching retirement but still working to salary sacrifice into super while at the same time receiving tax-effective income payments from a retirement income stream.

Through this strategy you can maintain your income, reduce your overall tax bill and increase your super.

To be eligible you must:

• have reached preservation age but be under 65
• be currently employed
• roll over some or all your funds to a retirement income stream such as TelstraSuper RetireAccess.

Visit to Transition to Retirement for further information.

TelstraSuper Financial Planning can help you develop a strategy that suits your lifestyle. To make an appointment, call TelstraSuper Financial Planning on 1300 033 166 or request an appointment online.

Learn more about Transition to Retirement