Telstra Super Superannuation Fund Overview and Benefits

The Telstra Super Superannuation Fund is a great option for Telstra employees and their families. It's a defined benefit scheme that provides a guaranteed income in retirement.

The fund is designed to help you achieve a comfortable retirement, with a range of benefits to support you along the way. With Telstra Super, you can enjoy a higher income in retirement, thanks to the fund's tax-effective structure.

One of the key benefits of Telstra Super is its flexibility. You can choose from a range of investment options to suit your needs, and adjust your contributions as your circumstances change.

To join TelstraSuper, you can complete an online application on their website, providing your personal details, including your name, address, date of birth, and contact information.

You'll also need to provide your Tax File Number, although it's not mandatory, as it will help your fund accept certain types of contributions and avoid higher tax rates on your benefit payments.

TelstraSuper's online application process is straightforward, and you'll receive your member number immediately after completing the application, allowing you to log in to your online account right away.

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Pty Ltd refers to a type of business structure in Australia.

Telstra Super Pty Ltd is a specific example of a company with this structure.

You can contact Telstra Super Pty Ltd's team on 1300 033 166 or via live chat on their website or in the app if you have issues with the app or your username.

Their customer support team is available to help with any problems you're experiencing.

Your super fund's ABN, or Australian Business Number, is a unique identifier that helps track your super contributions.

The TelstraSuper ABN number is 85502108833.

A USI, or Unique Superannuation Identifier, is not directly related to the ABN, but it helps you or your employer know you are paying super contributions into the correct super fund.

TelstraSuper's administration details are publicly available, which is a good thing for transparency. The fund's RSE licensee is Telstra Super Pty Ltd.

The fund is structured as a corporate entity, which is a common type for super funds. TelstraSuper is a non-profit organization, which means its primary goal is to provide benefits to its members, not to make a profit.

Let's take a look at the investment expenses ratio, which is a key factor in determining the fund's overall performance. TelstraSuper's investment expenses ratio is 0.3%, which is higher than the average of 0.18%.

Here's a comparison of TelstraSuper's operating expenses ratio with the average: 0.3% vs 0.49%. This suggests that the fund is relatively efficient in its operations.

The fund's board structure is also worth noting. TelstraSuper has a mix of male and female directors, with 5 females (63%) and 4 males (38%) on the board. This is a notable achievement, as the average number of female directors on super fund boards is 40.7%.

Here's a summary of the board composition:

The total remuneration of the directors on the trustee board is $818,000, which is higher than the average of $743,412. The average remuneration per director is $91,000, which is lower than the average of $102,069.

To join TelstraSuper, you can complete an online application on their website. This is a straightforward process that requires some personal details, including your name, address, date of birth, and contact information.

You'll also need to provide your Tax File Number, which is not required but recommended as it can affect your benefit payments and contribution types.

To roll over any existing super funds, you'll need to fill out your account details after joining, and TelstraSuper will take care of the rest.

Once you've completed the application, you'll receive your member number right away and can log in to your online account immediately.

You'll automatically be invested in TelstraSuper's MySuper option, which is a lifestage option that invests according to your age.

When you join the fund, you can switch to another investment option at any time. The MySuper option invests in a way that's tailored to your age, making it a convenient choice.

TelstraSuper's average annual return over the past 10 years has been 7.56%. This is a relatively modest return, especially considering inflation is currently around 5%.

Past performance is not an indicator of future performance, so it's essential to consider other factors when choosing a superannuation fund.

TelstraSuper offers a variety of investment options to suit different needs and preferences. You'll automatically be invested in the MySuper option when you join the fund, which is a lifestage option that invests according to your age.

With TelstraSuper, you can switch to another investment option at any time. The fund offers three types of investment options: Lifestage (MySuper), pre-mixed, and single-sector options. If you don't choose an option, your super will be invested in the MySuper lifestage investment option.

You can choose from a range of investment options, including Australian Shares, International Shares, Property, Fixed Interest, and Cash. TelstraSuper also offers transition-to-retirement (TTR) pension investment options for those who are planning to retire.

The information provided by TelstraSuper is based on data from SuperRatings Pty Limited and Lonsec Research Pty Ltd. In some cases, data may not be available from SuperRatings, and the data is provided directly by the superannuation fund.

Here are some of the investment options available with TelstraSuper:

Keep in mind that past performance data and fee data are for the period ending December 2024.

Average performance is a key factor in evaluating a superfund's success.

TelstraSuper's average annual return over the past 10 years has been 7.56%.

While that may seem decent, with inflation currently hovering around 5, it's not as impressive as other superannuation funds in the market.

A superannuation fund's performance over the past 12 months can also be a good indicator of its current standing, with TelstraSuper's performance at 9.07%.

Past performance is not an indicator of future performance, so it's essential to keep that in mind when evaluating a superfund.

Fees can add up and eat into your superannuation savings. The annual administration fee for Telstra Super is $547, based on a superannuation balance of $50,000.

This fee is just one of the costs you'll need to consider when choosing a super fund. Activity fees and insurance fees are also excluded from this figure.

It's essential to understand all the fees associated with your super fund to make informed decisions about your investments.

TelstraSuper is a profit-to-member super fund, meaning it's run to benefit its members. This approach ensures that the fund's decisions are made with the goal of delivering the best possible outcomes for its members.

The fund offers a range of investment options, so you can choose how your super is invested in line with your risk tolerance and investing preference. This flexibility allows you to tailor your investment strategy to suit your individual needs.

One of the standout features of TelstraSuper is its lifestage MySuper option, which invests your balance into a mix of asset classes based on your age. As you get older, your investment mix will change to suit your new stage of life.

TelstraSuper also offers death and total permanent disablement (TPD) and income protection cover to eligible members. This provides an added layer of security and peace of mind for those who are eligible.

Here are some of the key features of TelstraSuper:

You can access your account online or through the mobile app to see your latest transactions, account balances, and investment updates. This makes it easy to stay on top of your super and make informed decisions about your financial future.

TelstraSuper's average annual return over the past 10 years has been 7.56%.

This is a respectable figure, but it's not considered market-leading, especially when compared to the current inflation rate of around 5%.

TelstraSuper's performance is often compared to other superfunds, and its returns are generally in line with the industry average.

The fund's returns may not be the highest, but they're still a good choice for those looking for a stable and reliable investment option.

Australia's inflation rate is a key factor to consider when evaluating a superfund's performance, and TelstraSuper's returns have held up relatively well in this regard.

TelstraSuper offers a range of investment options to suit your risk tolerance and investing preference.

One of the notable features of TelstraSuper is its transition-to-retirement (TTR) pension investment options, as mentioned in Example 3. This means you can start accessing your superannuation savings while still working, but it's essential to understand the conditions and implications of doing so.

TelstraSuper's TTR pension investment options allow you to take advantage of the fund's range of investment options, including the Lifestage MySuper option, which adjusts your investment mix based on your age.

Here are some key facts about TelstraSuper's TTR pension investment options:

With TelstraSuper's TTR pension investment options, you can start planning for your retirement and make the most of your superannuation savings.

TelstraSuper has a reputation for excellence, as evidenced by the awards it has won in recent years.

One of the notable awards TelstraSuper has received is the Super Fund of the Year award.

Its commitment to providing top-notch services has not gone unnoticed, as it has also been recognized for its exceptional customer service.

TelstraSuper's focus on delivering results has earned it the Super Fund of the Year award.

TelstraSuper offers a range of insurance options to support its members. One of the types of insurance provided is life insurance, which offers death cover.

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TelstraSuper also provides total and permanent disablement (TPD) cover, which can help protect your lifestyle and financial security if you become permanently disabled.

Income protection cover is another type of insurance offered by TelstraSuper, designed to help replace your income if you're unable to work due to illness or injury.

TelstraSuper's insurance options are designed to provide peace of mind and financial security for its members.

A USI, or Unique Superannuation Identifier, is a special number that helps you or your employer know which super fund contributions are being paid into. Each super fund has its own unique USI, and for Telstra Super, that number is TLS01000AU.

Having a USI is important because it ensures that your super fund contributions are going into the right account. This helps prevent any confusion or errors in the future.

A USI is a unique identifier, just like a name or a phone number, and it's specific to each super fund.

As a TelstraSuper member, you have access to a range of insurance options that can provide financial support during difficult times.

You can choose from income protection cover, which pays a benefit if you're unable to work due to illness or injury. This can help you maintain your lifestyle and pay your bills while you recover.

Total and permanent disablement cover provides a lump sum payment if you become totally and permanently disabled and can no longer work. This can help you cover your living expenses and provide for your loved ones.

Death cover is another option, providing a lump sum payment when you die. This can help your loved ones repay debts and maintain their lifestyle.

TelstraSuper offers three main types of insurance: life insurance (death cover), total and permanent disablement (TPD) cover, and income protection cover.

Here are the types of insurance offered by TelstraSuper:

Telstra Super's industry is a key aspect of its operations. As a retail super fund, it's one of the largest in Australia, with over 2 million members.

The fund's governance structure is designed to ensure accountability and transparency. This includes an independent Board of Directors, which oversees the fund's operations and makes key decisions.

Telstra Super's Board of Directors has a mix of industry experts and independent directors, providing a balanced perspective on the fund's operations.

Telstra Super is owned by Telstra, a telecommunications company. This is a significant fact for those interested in the superannuation industry.

Telstra Corporation Limited established Telstra Super in June 1990. This shows that the company has a long history in the superannuation sector.

Some superannuation funds are owned by well-known companies, while others are independent. It's essential to research and understand the ownership structure of a fund before investing.

Telstra Super's ownership by Telstra can be a positive factor for some investors, as it may provide stability and security. However, it's crucial to evaluate the fund's overall performance and fees before making a decision.

Here's a list of some key facts about Telstra Super's ownership:

TelstraSuper is looking for a merger partner to meet the best interests of its 84,000 members.

The fund is in a strong and healthy position with positive net member growth, but believes size and scale are increasingly important for its long-term strategy.

A merger will facilitate the rebranding of the fund, which is currently a separate entity from the Telstra Group.

Telstra has confirmed its ongoing commitment to TelstraSuper as its default superannuation fund, and a merger will help the fund move forward with a new separate identity.

With $26 billion under management, TelstraSuper is close to reaching the $30 billion floor for fund sustainability believed by APRA.

The fund's current custody contract with J.P. Morgan expires in 2025, and a merger will facilitate the timely replacement of its current custodial arrangements.

TelstraSuper's board sees this as an exciting opportunity for members to transition to a larger entity with industry-leading benefits and services.

Australians are increasingly looking for their investments to be made responsibly, with four in five expecting their super, banks, and other investments to be invested responsibly.

Data from the Responsible Investment Association Australasia (RIAA) shows that 17% of Australians are already investing in ethical and responsible products.

TelstraSuper is one such fund that's making a conscious effort to invest responsibly. It doesn't invest in companies where a majority of earnings have been derived from thermal coal production.

Nor does it invest in tobacco products or controversial weapons, which is a big plus for those who care about the environment and social impact.

TelstraSuper was named as a 2022 ESG Leader Super fund by Rainmaker, which is a great recognition of its efforts.

TelstraSuper is an industry fund, which means it's a superannuation fund that's run to benefit its members.

Industry funds are designed to benefit their members, and TelstraSuper is no exception.