TelstraSuper has been supporting members’ retirement outcomes for more than three decades. 

As the superannuation industry continues to evolve, the TelstraSuper Trustee Board has decided that merging with the right partner is the best way to serve members in the long run. Following a comprehensive review of the options available, the Board has determined that TelstraSuper will merge with Aware Super. 

By joining Aware Super, TelstraSuper members will benefit from being part of a much larger fund, which provides the potential for better products and services, lower fees and access to more investment opportunities. 

Importantly, both TelstraSuper and Aware Super have many shared values, including a strong focus on long-term performance, member engagement, personalised service, guidance and financial advice.  

Once the merger is complete, TelstraSuper members will become members of Aware Super, resulting in a combined fund that is expected to manage around $237 billion for around 1.3 million Australians.^[M7]  

Aware Super is one of Australia's largest profit-for-member superannuation funds with $208 billion in funds under management* and around 1.2 million members*. Aware Super strives to deliver strong long-term returns for its members and the help, guidance and advice they need to prepare for and enjoy their best possible retirement.

Aware Super started as First State Super in 1992, looking after the retirement savings of NSW government employees. This gave them a deep appreciation of the importance of frontline workers like nurses, teachers and police, as well as an understanding of their retirement needs. Over the years, they’ve successfully brought together members from different funds through mergers: Health Super in 2011, VicSuper in 2020, followed by WA Super later that year.

You can visit Aware Super - Australian Superannuation Fund for detailed information about Aware Super’s products and services, investment performance, updates, and member resources.

*Aware Super, 31 December 2025.

The merger is set to take effect from 30 April 2026, when your super will be automatically transferred to Aware super, at which point you’ll become a member of Aware Super.  

However, from 17 April 2026 until 11 May 2026 a phased limited service period will apply, and some services and transactions will be temporarily unavailable. (See further details on the limited service period below).

From 11 May 2026, you will start to have access to Aware Super’s broader range of services.

Aware Super has a head office in Sydney. However, their wide national footprint means they offer walk-in offices in Melbourne, Perth, Parramatta, Gosford, Sydney CBD and Wollongong.

Members can also visit additional offices by appointment including in Ballarat, Wagga Wagga, Orange, Geelong, Frankston, Tamworth, Canberra, Armidale, Penrith, Mittagong, Maitland, Gymea, Brisbane, Nowra, Newcastle, Taree, Forster, Coffs Harbour, Port Macquarie, and Kingscliff.

By joining Aware Super, TelstraSuper members will benefit from being part of a much larger fund, which provides the potential for better products and services, lower fees and access to more investment opportunities. 

Importantly, both TelstraSuper and Aware Super have many shared values, including a strong focus on long-term performance, member engagement, personalised service, guidance and financial advice.

Aware Super is a highly regarded, award-winning fund, having won SuperRatings Fund of the Year in 2024 and 2025^[A5] and Chant West’s Pension Fund of the Year 2024 and 2025^[A6].

It is one of Australia’s largest profit-for-member funds, where profits are reinvested for members’ benefit. Aware Super also has significant experience in managing defined benefit arrangements and complex fund designs, so is well placed to support our membership.

 Visit aware.com.au/awards for more information.

Aware Super won SuperRatings Fund of the Year in 2024 and 2025^[A5] and Chant West's Pension Fund of the Year, also in 2024 and 2025^[A6]. 

You can visit  awaresuper.com.au for detailed information about Aware Super’s investment performance. 

Aware Super is a profit-for-member super fund, similar to TelstraSuper. Aware Super is led by a Board of Directors and an executive team. Christine McLoughlin is the Chair of the Board, and Deanne Stewart is the CEO. Like TelstraSuper, the Board includes equal representation from member and employer representatives, plus an independent Chair.

Aware Super started as First State Super in 1992, looking after NSW government employees, giving them a deep appreciation for and understanding of frontline workers like nurses, teachers, police and first-line responders. In 2006, it opened up membership so anyone could join. Over the years, Aware Super has successfully brought together members from different funds through mergers: Health Super in 2011 then in 2020 VicSuper, followed by WA Super later that year.

After merging with TelstraSuper, the Aware Super Board will add two new directors: one nominated by the ACTU and one by the Telstra Group. Aware Super is not a part of the industry super network advertising campaign. You can find out more about the origin of Aware Super at Who is Aware Super?

Where an employee does not have an existing superannuation fund or does not choose an alternate super fund, Aware Super will become the default super fund for new Telstra Group employees and associated employers.

Aware Super is led by a Board of Directors and an executive team. Christine McLoughlin is the Chair of the Board, and Deanne Stewart is the CEO. 

The Board includes equal representation from member and employer representatives, plus an independent Chair. After merging with TelstraSuper, the Aware Super Board will add two new directors: one nominated by the ACTU and one by the Telstra Group.

For the merger to go ahead it has to pass a strict test to ensure that it’s in members’ best financial interests as a whole, and that TelstraSuper members’ rights in respect of their benefits are equivalent (or better) in Aware Super.

After considering all relevant factors, including independent expert advice, the TelstraSuper Board has determined that members will, as a whole, have equivalent or better rights in respect of their benefits in Aware Super, and that the merger is in members best financial interests as a whole.

The merger will occur via a Successor Fund Transfer (SFT) which automatically transfers members of one fund to another fund. In this case, TelstraSuper members will be automatically transferred to Aware Super. This will occur on 30 April 2026, at which point you'll be a member of Aware Super. 

Once the merger is complete, TelstraSuper members will be transferred across to Aware Super and become members of Aware Super. Telstra Super Pty Ltd will no longer exist in its capacity as trustee of the TelstraSuper Fund.       

You have been sent a Significant Event Notice (SEN) outlining what this change means for you as well as key details about the transfer, the limited service period, and any actions you may need to take. You can find a copy of the SEN in your SuperOnline mailbox - please take time to review this important information carefully. You can also access a copy of the Significant Event Notice and tailored frequently asked questions via the links below. If you aren’t sure which group you fit into you can check your SEN in SuperOnline or contact us on 1300 033 166.

You don’t need to take action for your account to be transferred to Aware Super – this will happen automatically on 30 April 2026.

However, we recommend that you review the Significant Event Notice outlining what this change means for you as well as key details about the transfer, the limited service period, and any actions you may need to take. You can find a copy of the Significant Event Notice in your SuperOnline mailbox - please review this important information carefully. This may have also been provided to you as a physical letter, depending on your communication preference.  This notice also outlines important things you might want to consider before the merger, along with important information about changes to your fees, insurance and investments. 

IMPORTANT - If you have any payments deducted from your TelstraSuper account by a third party (for example, to an external insurance provider), you may need to inform them of the change to ensure these payments continue and to avoid any impact on services linked to those payments.

You will need to provide the following details:

• Aware Super’s USI: 53 226 460 365 001
• Aware Super’s ABN: 53 226 460 365
• Your Account Number: Your Aware Super account number will be the same as your TelstraSuper account number*. You can find this number on the cover letter of your Significant Event Notice (SEN), on your TelstraSuper super statement or by logging in to SuperOnline. Please ensure you provide the account number without any spaces.

*Please note, your member number and account number are different. Your member number is the number we use to identify you. Your account number is the number your employer uses to pay your super contributions. If you have more than one TelstraSuper account, you will have multiple account numbers but only one member number.

*Please note, if you need to update your current mailing address with TelstraSuper and wish to do this by physical letter, you must do this prior to 28 April 2026.

You will be able to access SuperOnline and the TelstraSuper app up until 5.30pm on 30 April 2026. 

From 17 April 2026 to 11 May 2026 a phased limited service period will apply, and some services and transactions will be unavailable. Please refer to the limited service period information provided in your Significant Event Notice, as well as on the Merger Hub for full details and timing.

From 28 April 2026 at close of business, there will be 'Read only' access to TelstraSuper's SuperOnline and App, and access will cease at close of business on 30 April 2026.

Access to Aware Super's Member Online portal (similar to SuperOnline) and App, as well as their full range of digital services, tools and calculators including the insurance portal, begins from 11 May 2026.

Only transactions and statements from the last five years of your active accounts will be visible to you in Aware Super’s Member Online. If you wish to have copies of your TelstraSuper statements and transactions beyond the last five years or for your closed accounts (if applicable), you must download or print them before 30 April 2026. We encourage you to download a copy of your TelstraSuper statements and transactions via SuperOnline before this date.

No. You don’t need to do anything as TelstraSuper and Aware Super will work directly with your Corporate Plus Employer to ensure their records are updated. 

No. If you have provided your TFN to TelstraSuper, this will carry over to Aware Super.

Most members will keep their existing membership and account numbers when their account(s) are transferred to Aware Super.

Please note, if your member number is already in use by Aware Super, you’ll be assigned a new member number. If you are affected by this change you will be advised in a separate communication and it will also be confirmed in your welcome letter from Aware Super. Otherwise, your Aware Super account number will be the same as your TelstraSuper account number without any spaces. You can find this number on the cover letter to your Significant Event Notice. You can also find your existing member number on your TelstraSuper super statements or by contacting us on 1300 033 166.

Your member number is the number we use to identify you. Your account number is the number your employer uses to pay your super contributions. If you have more than one TelstraSuper account, you will have multiple account numbers but only one member number.

A Data Migration Strategy is supporting the merger that includes several rounds of testing, extensive reconciliation and auditing across the balances being transferred to ensure their accuracy.

Once the transfer is complete, you will receive an exit statement from TelstraSuper and a welcome letter from Aware Super. These letters will contain the amount that TelstraSuper has transferred across to Aware Super.

Your TelstraSuper balance on exit will be exactly the same as your Aware Super opening balance.

We are committed to protecting your privacy and the security of your personal information. You can access our Privacy Policy at telstrasuper.com.au/privacy.

 As part of the merger, the information we hold about you will be transferred to Aware Super which will include security questions and answers. Any of your information that is transferred before 30 April 2026 will be handled in accordance with our Privacy Policy. On transfer, Aware Super’s Privacy Policy will apply and will describe how your personal information will be managed from that date. You can access the Aware Super Privacy Policy at aware.com.au/privacy.

In late May 2026 you will receive an exit letter/statement from TelstraSuper, which will show your TelstraSuper account and final account balance (which was transferred to Aware Super).

After 11 May 2026, Aware Super will send you a welcome letter via your communication preference that was recorded with TelstraSuper prior to the merger. The welcome letter will include a summary of your Aware Super account, information about online access and services available to you, as well as any other relevant terms of your membership.

TelstraSuper members can access comprehensive advice through Aware Super under a referral agreement. General advice, factual information and support will continue to be provided by TelstraSuper until the merger is complete. Once the merger is complete, general advice, factual information and support will be provided by Aware Super.

If you are changing employers before the merger is completed, you can remain with TelstraSuper as a Personal Plus member until your account is transferred to Aware Super.

If your new employer makes contributions to your Personal Plus account, you’ll need to inform them of the change and advise them to submit your contribution on or after 11 May 2026 to ensure your super contributions continue without interruption.

Details to provide to your employer to ensure any contributions from your employer - such as super guarantee (SG) and voluntary contributions (if applicable) - are paid into your new Aware Super account after the merger are as follows:

Aware Super’s USI: 53 226 460 365 001

Aware Super’s ABN: 53 226 460 365

Your Account Number: Your Aware Super account number will be the same as your TelstraSuper account number. You can find this number on the cover letter to the SEN. Please ensure you provide the account number without any spaces.

Important: If your employer pays a contribution to Aware Super between 30 April and 10 May 2026, it will be redirected to your employer because your account won’t exist yet.

It is also important to note that any employer contributions received by TelstraSuper after 28 April 2026 will be redirected back to your employer.

Contribution splitting between spouses will be affected for a limited time period while the merger is being completed.  If you’d like to transfer or ‘split’ some of the eligible contributions made to your account to your spouse’s account, you will need to do so before 24 April 2026. After the merger, because your account will be in a different fund, only new contributions that are received from 1 May 2026 will legally be able to be transferred or split. Aware Super will not be able to transfer or ‘split’ contributions that were made while you were a member of TelstraSuper. 

You’ll need to make a full withdrawal (if eligible) or transfer your money into another super fund and notify your employer of your chosen fund’s details. Your request will need to be received by 24 April 2026 otherwise your account will be transferred to Aware Super. 

Before making any decision, you should understand the impacts to any insurance cover you may hold. You should talk to a qualified financial adviser.  

A limited service period is a short time when some services and transactions will be limited or unavailable.

It usually happens during big system changes, like a fund merger, so the fund can safely update and transfer information. Your money stays invested, but certain actions - like switching options or making changes - will be paused until the work is finished.

To support the merger, a phased-in limited service period will run between 17 April 2026 to 11 May 2026. This period is necessary to transfer member account details, data, and administration services to Aware Super.

The table below lists the key cut-off dates for certain services and transactions that will be temporarily unavailable during the limited service period from 17 April to 11 May 2026. 
  

Please note, if we receive your requests before the cut-off dates listed, we’ll endeavour to process them. If you’re sending your form by post, please make sure you allow enough time for it to reach TelstraSuper before the cut-off date.  Due to expected high volumes of work requests during this period, processing times may be slower than usual.

Any request received by TelstraSuper before the relevant cut-off time, where not all the required information to complete the processing of such requests was included, will likely not be processed. We’ll notify you if your application is incomplete or cannot be processed. If your request is rejected for any reason, you’ll need to recommence the process from the start with Aware Super.

Where your requests are forwarded to Aware Super, you may be contacted and asked to resubmit your request using the required Aware Super form or process. Requests received after the cut‑off dates generally will not be processed. If this happens, Aware Super will contact you and ask you to resubmit your request using the required Aware Super form or process.

From 11 May 2026, Aware Super will start processing all forms, including insurance applications and claims, submitted to Aware Super from 1 May 2026.

From 24 April 2026 you won’t be able to contribute to your or your spouse’s TelstraSuper account via any method. If you wish to contribute after this date you will need to do so to Aware Super after 11 May 2026.

As with personal contributions, employer contributions – including any contributions made through salary sacrifice arrangements - will be accepted and applied to your account after the limited service period, effective the date Aware Super processes the contribution. 

Yes. Although the limited service period begins on 17 April 2026 for some TelstraSuper services or transactions, you can still make investment switches up until 4pm on 24 April 2026. After this time, investment switches will be unavailable until 11 May 2026.

You can update your investment option(s) with Aware Super from 11 May 2026 and choose from their range of investment options. Aware Super has a wider range of investment options for you to choose from including term deposits, Indexed and Socially Conscious options. 

Up until 6pm AEST on 30 April 2026 TelstraSuper’s member servicing teams will be available to support you if you have any questions about the limited service period or need help with a request or service. Across the limited service period you can continue contact TelstraSuper on 1300 033 166 or via live chat through your SuperOnline account.

Between 1 May 2026 to 10 May 2026 you can call Aware Super on 1300 650 873 for general information only between 8am to 8pm (AEST) on weekdays. During this time, Aware Super will have read only access to your account and you won’t be able to make changes.

From 11 May 2026, when the limited service period ends, the Aware Super contact centre will start to have access to your new account to help answer any questions you may have. You can call them on 1300 650 873 between 8am to 8pm (AEST) on weekdays.  For information and support on transitioning to Aware Super, members can also visit aware.com.au/mergerfaqs.

If you’d like to release money from your Telstra Super account to pay a Division 293 tax liability, this request needs to be received by us from the ATO before 24 April 2026. We suggest you factor this date into any request you make to the ATO to release funds.

From 24 April 2026 you won’t be able to contribute to your or your spouse’s TelstraSuper account via any method. If you wish to contribute after this date you will need to do so to Aware Super after 11 May 2026. 

Your BPAY details will change. If you have a recurring BPAY set up with your bank, please cancel it before 24 April 2026. If the arrangement isn’t cancelled, your next payment will fail and not be sent.

Aware Super’s Direct Debit details are different from TelstraSuper’s. Information about Aware Super’s Direct Debit arrangement is available on their website.

If you’d like to claim a tax deduction or vary a tax deduction for personal super contributions made to your account for the 2025/26 financial year or for the previous financial year (2024/25), we strongly encourage you to submit your request to TelstraSuper by 24 April 2026.

After the merger, members will need to make these requests directly to Aware Super, which will process the request for the relevant financial year in which the contribution was made.

Your account will transfer from TelstraSuper Corporate Plus to Aware Super Future Saver Employer Sponsored and Personal. A Product Disclosure Statement (PDS) about your new product will be included with your Aware Super welcome letter in May 2026.  You can also download the PDS and the Insurance Handbook for employees of Telstra Group Limited and Associated Employers via aware.com.au/pds from 30 April 2026.

After the merger, there will be some changes to fees and costs. Most TelstraSuper members will benefit from lower fees and costs with Aware Super. Aware Super will begin charging fees and costs from 1 May 2026.

You can view a direct comparison between TelstraSuper’s fees and costs with those of Aware Super in Table 1 -  Fees and costs summary comparison and Table 2 - Investment fees and costs and transaction costs comparison in your Significant Event Notice.

Important: If you have multiple accounts with TelstraSuper, or have both an Aware Super and TelstraSuper account, you may end up paying more fees overall as the $52 per year admin fee and fee caps apply per account at Aware Super. To avoid paying fees on multiple accounts, you may want to consider consolidating your accounts.  However, there may be implications, including to any insurance arrangements, so it’s important to speak to a qualified financial adviser before making any decisions. You can also speak to Aware Super after the merger if you have questions about their products.  

To find out more about the impacts to your insurance by consolidating you can refer to the relevant PDS and handbook for your product which will be available at aware.com.au/pds from 30 April 2026.

Access to Aware Super’s Member Online portal (similar to SuperOnline) and App, as well as their full range of digital services, tools and calculators including the insurance portal, begins from 11 May 2026.

Your digital credentials (member number and/or username and password) will be securely migrated to Aware Super. You can use either your member number or username to log in to Aware Super’s digital platform, Member Online, and the Aware Super app from 11 May 2026. If a username is already in use by Aware Super, you will need to create a new username.

If you receive a new member number and don’t currently have a username, you may need to register for online access from 11 May 2026. Instructions for this will be provided in your Aware Super welcome letter. 

You can check your employer contributions by using your member number or username to login to Aware Super’s digital platform Member Online or the Aware Super app from 11 May 2026. Employer contributions will be accepted and applied to your Aware Super account after the limited service period, effective the date Aware Super processes the contribution.

You can update your personal and contact details with TelstraSuper before 28 April 2026. Your personal and contact details will be securely and automatically transferred to Aware Super on 1 May 2026 as part of the merger.

You’ll be able to make updates to your personal details once the limited service period ends on 11 May 2026 when you access to Aware Super’s Member Online portal and the Aware Super app begin. Aware Super will begin to process transactions from 11 May 2026.

If you have both an Aware Super account and a TelstraSuper account, you will end up with at least two Aware Super accounts after the merger. Having multiple Aware Super accounts may incur higher fees overall. Members can request for these accounts to be consolidated with Aware Super after the merger. There may be some implications to consolidation, including to any insurance arrangements, so it’s important to speak to a qualified financial adviser before making any decisions. You can also speak to Aware Super if you have any questions about their products. 

To find out more about the impacts to your insurance by consolidating you can refer to the relevant PDS and handbook for your product which will be available at aware.com.au/pds from 30 April 2026.

Only transactions and statements from the last five years of your active accounts will be visible to you in Aware Super’s Member Online. If you wish to have copies of your TelstraSuper statements and transactions beyond the last five years or for your closed accounts (if applicable), you must download or print them before 30 April 2026. We encourage you to download a copy of your TelstraSuper statements and transactions via SuperOnline before this date.  

If you have a death benefit beneficiary nomination, it will transfer to Aware Super and apply to each of your accounts.

If you have a non-binding death benefit nomination, you won’t be able to make changes to it after the transfer to Aware Super as Aware Super doesn’t accept new or updates to existing non-binding death benefit nominations. Instead, you can make a lapsing or non-lapsing binding death benefit nomination.

Aware Super offers members the opportunity to make or update a non-lapsing death benefit binding nomination anytime online.

After the transfer to Aware Super, if you have multiple accounts and want to update beneficiaries, you must make changes for each account individually (because in Aware Super a death benefit nomination attaches to each of your individual accounts rather than to your Aware Super membership).

Existing third party authorities won’t transfer to Aware Super. You’ll need to set up a new third party authority with Aware Super after 11 May 2026.

Yes, if you have a valid power of attorney in place, it'll be transferred to Aware Super.

The spouse combined account administration fee rebate will no longer apply. However, reduced individual account fee caps will apply. You can view a comparison between TelstraSuper’s fees and costs with those of Aware Super in Table 1 - Fees and costs summary comparison in your Significant Event Notice.

Yes. The Aware Super mobile app will be available for use from 11 May 2026. The app allows you to check your transactions, balance and fees and make personal contributions to your super. You can also use the app to update your personal details and communications preferences.

You can download Aware Super’s mobile app from the Google Play store (for Android) or the App store (for Apple) and login from 11 May 2026.

Like TelstraSuper, Aware Super provides a range of services to help members with their accounts at no extra cost. This includes general financial advice and intra fund advice. Like TelstraSuper this will continue to be included as part of your Aware Super membership. In addition to getting help with understanding your super, and insurance within your account, making contributions, and choosing how to invest, Aware Super can assist with setting up a pension account and estimating how long your pension might last and incorporating Centrelink eligibility estimates, where relevant.

From May 11 2026, Aware Super will start to have access to your new account to help answer any questions you may have. You can call them on 1300 650 873 between 8:00am to 8:00pm (AEST) on weekdays.

You can learn more about Aware Super’s advice and guidance offering here. 

Like TelstraSuper, Aware Super provides annual super statements after the end of each financial year, however they don’t provide an annual Insurance Statement. You will be able to view your insurance from 11 May 2026 and at any time thereafter in Aware Super’s online member platform, Member Online, and in the Aware Super app.

We also encourage you to download a copy of your TelstraSuper statements and transactions via SuperOnline before 30 April 2026.

From 24 April 2026, you won’t be able to contribute to your or your spouse’s TelstraSuper account via any method, including BPAY. If you wish to contribute after this date you will need to do so to Aware Super after 11 May 2026.

Your BPAY details will change. If you have a recurring BPAY set up with your bank, please cancel it before 24 April 2026. If the arrangement is not cancelled, your next payment will fail and not be sent.

To set up BPAY contributions with Aware Super after the transfer, log in to Member Online to get your BPAY biller code and your reference number.

Aware Super offers a Retirement Bonus when members transfer from accumulation to the retirement phase. However some of the eligibility criteria and calculations will differ from TelstraSuper’s arrangements:

• TelstraSuper currently pay 0.5% capped at $8,000, whereas Aware Super will pay 0.7% capped at $14,000.
• TelstraSuper has no minimum eligibility period, however Aware Super’s is based on the average daily balance over a 6-month period and amount transferred.
• Continuous account tenure in a Corporate Plus, Personal Plus or Transition to Retirement Income stream account prior to the merger (and before a transfer to a Retirement Income account) will be factored into the 6-month eligibility period.
• Funds invested in the Cash investment option will not be eligible for the Retirement Bonus post transfer to Aware Super.
•  Funds held within a Defined Benefit or Voluntary Accumulation Account (VAA) will not be eligible for the Retirement Bonus, however defined benefit members who transfer to an eligible account for a 6-month period may be eligible

 You can find out more about Aware Super’s Retirement Bonus here.

After you become and Aware Super member, if you wish to rollover any super balances into your new Aware Super account, you must do so after 11 May 2026 using Aware Super’s USI & ABN details:

• Aware Super’s USI: 53 226 460 365 001 
• Aware Super’s ABN: 53 226 460 365

Your Account Number: Your Aware Super account number will be the same as your TelstraSuper account number. You can find this number on the cover letter to this notice. Please ensure you provide the account number without any spaces.

As part of the merger, there may be changes to your investments.

MySuper Lifecycle members

If on 30 April 2026:

• any part of your balance invested in a MySuper investment option, or
• MySuper Lifecycle is part of your future contribution strategy,

your entire account and future contribution strategy will automatically move to the Lifecycle stage at Aware Super that matches your age after the merger (see ‘Jack’ example below). This could significantly affect your investment allocations. Please read the FAQ below: How does Aware Super’s Lifecycle investment approach compare to TelstraSuper’s? 

If you aren’t a MySuper Lifecycle member (that is, you do not have any funds invested in a MySuper option and/or your future contribution strategy does not include MySuper. Lifecycle), your account will be transferred to the Aware Super option(s) that most closely match how your balance is currently invested with TelstraSuper. Your investments will be transferred in the same proportions. However, the investment characteristics may differ between these options.

Alternatively, from 11 May 2026 when the limited service period ends you’ll be able to update your investment option(s) with Aware Super and choose from their range of investment options. But your account will already have been invested in the Aware Super MySuper Lifecycle as part of the transfer.  

Non-MySuper Lifecycle members

If you aren’t a MySuper Lifecycle member, your account balance will be transferred to the Aware Super investment option(s) that most closely matches how your account balance is invested with TelstraSuper in the same proportions. However, the investment characteristics may differ between these options.

If you’ve made a choice about how you’d like contributions to be invested, your future contributions (post-merger) will be invested in the Aware Super investment option(s) that most closely matches how your account balance is invested with TelstraSuper, in the same proportions.

You can see how TelstraSuper investment options compare with the corresponding Aware Super investment options in Table 4: Investment option comparison in your Significant Event Notice.  Note in particular there are some important differences in relation to the Property investment option. These are explained in the Significant Event Notice (see ‘Important information about the Property investment option’).

To learn more about Aware Super’s investment options, read the Investment and Fees Handbook available at aware.com.au/pds.

Like TelstraSuper, Aware Super use a lifecycle investment approach for their default MySuper offering. If any part of your account balance is invested in TelstraSuper’s MySuper Lifecycle investment option, or if you have MySuper lifecycle is part of your future contribution strategy, this is where your funds and future contributions will be invested when your account transfers to Aware Super.

Similar to TelstraSuper’s MySuper Lifecycle investment option, Aware Super’s Lifecycle approach invests more of your super in growth assets (such as shares and property) when you’re younger and gradually shifts your investment mix to more defensive assets (such as cash and fixed interest) as you get older. However, there are a few important differences:

• TelstraSuper’s Lifecycle strategy has 4 stages, while Aware Super’s has 11 stages, allowing for a more gradual transition over time.
• Other than members aged 61 to 64, members moving into Aware Super’s Lifecycle investment option will hold more growth assets than at an equivalent age in TelstraSuper. Growth assets can help grow your balance more in the long term, but tend to rise and fall more in the short term*. This may result in greater fluctuations in the value of your investment.
• Unlike TelstraSuper, Aware Super doesn’t offer partial investment in their MySuper Lifecycle approach.

You can see how the two Lifecycle approaches compare in Table 3 – MySuper Lifecycle comparison in your Significant Event Notice.

For more details, refer to the ‘MySuper Lifecycle’ section of the Investment and Fees Handbook available at aware.com.au/pds.
 

* Historical investment performance is not indicative of future investment performance.

Aware Super has a wider range of investment options for you to choose from including term deposits, indexed and socially conscious investment options.  

You can view a comparison of the investment characteristics of TelstraSuper investment options and corresponding Aware Super investment options in Table 4 - Investment option comparison in your Significant Event Notice.

You can change your investment strategy with Aware Super anytime from May 11 2026, when the limited service period no longer applies.

To learn more about Aware Super’s investment options, read the Investment and Fees Handbook available at aware.com.au/pds or Visit Aware Super's Investment Options page at aware.com.au/invest to explore the details of the many investment options available.

After the merger, there will be some changes to investment fees and costs. Most TelstraSuper members will benefit from lower investment fees and costs with Aware Super.

You can view a direct comparison between TelstraSuper’s investment fees and costs and transactions costs with the corresponding Aware Super option Aware Super in Table 2 - Investment fees and cost and transaction costs comparison in your Significant Event Notice.

For more information about Aware Super’s investment fees and costs, including the fees and costs of other Aware Super options not listed above, read the Investment and Fees Handbook available at aware.com.au/pds or go to aware.com.au/fees.

Note: Investment fees and costs and transaction costs are not fixed and may vary from year to year. The amounts in the table in your Significant Event Notice are indicative only.

Aware Super’s daily investment switch cut off time is 3pm on a business day (AEST/AEDT). TelstraSuper’s is 4pm on a Melbourne business day.                         

Like TelstraSuper, Aware Super offers a Member Online portal where members can change how their super is invested. You’ll be able to access this from 11 May 2026. 

Although the limited service period begins on 17 April 2026 for some services or transactions, you can still make an investment switch up until 4pm (AEST) on 24 April 2026. After this time, investment switches will be unavailable until 11 May 2026.

Although the balance of your account before and after transferring to Aware Super won’t change, the number of units you hold and the relevant unit price will be different. This is because the unit price of the corresponding Aware Super investment options are different.

Aware Super has a similar range of asset classes to TelstraSuper but uses different labels in some instances, for example Aware Super uses ‘Private equity’ instead of ‘Private Markets’, and ‘Credit income’ instead of ‘Alternative Debt’. The below table compares TelstraSuper’s asset classes with the corresponding Aware Super asset classes. Note that Aware Super does not have an equivalent to the ‘Opportunities’ asset class.
 

There are many similarities between TelstraSuper and Aware Super in terms of their approach to sustainable investment. For example, both funds: 

• Integrate environmental, social and governance (ESG) considerations into their investment processes (as outlined in their responsible investment policies);
•  Implement stewardship programs through voting, corporate engagement and advocacy and are signatories to the Australian Asset Owners Stewardship Code;
• Participate in many of the same major industry initiatives and collaborative organisations; 
• Have an exclusion framework and investment restrictions in relation to tobacco, thermal coal and controversial weapons¹; 
• Provide publicly available responsible investment reporting.

In addition, both funds have an exclusion framework and similar investment restrictions. However, there are some important differences:

• Aware Super’s materiality threshold for thermal coal is lower (10% of revenue compared to TelstraSuper’s 25%), so it will exclude more companies;
• Aware Super’s materiality threshold for controversial weapons is lower (no threshold compared to TelstraSuper’s threshold of 5% of revenue), so it will exclude more companies;
• Aware Super’s controversial weapons restriction applies to a broader range of weapons, including depleted uranium, incendiary weapons and white phosphorous weapons; and
• Aware Super has an investment restriction for nuclear weapons, subject to a 5% revenue threshold and verified involvement.

Note that while Aware Super does not have a fund-wide restriction for Russian-domiciled securities, it does not currently invest in any Russian-domiciled securities due to Australian Government sanctions on Russia.

Other differences in the fund’s sustainable investment approach include:

• The climate targets differ in scope. TelstraSuper limits its target to listed equities and real assets, while Aware Super’s target applies across the whole fund.
•  Aware Super has an international provider that undertakes stewardship activities on their behalf.

To read more about Aware Super’s approach to sustainable investment, refer to the Responsible Ownership section of the Investment and Fees Handbook available at aware.com.au/pds or go to aware.com.au/responsiblesuper.

As part of our merger on 30 April 2026 with Aware Super, the insurance provider will change from Nippon Life Insurance Australia and New Zealand Limited ABN 90 000 000 402 AFSL 230694 trading as Acenda (formerly MLC Limited) to Aware Super’s insurer, TAL Life Limited ABN 70 050 109 450 AFSL 237848. This will be effective from 1 May 2026.

This will result in changes to your insurance:

Most members will maintain the same type of cover upon joining Aware Super. Aware Super will recalculate members’ sums insured as at 1 May 2026. As a result, the amount of cover you receive may be different to the amount of cover you hold in TelstraSuper Corporate Plus. Also, the premiums and the insurance terms, conditions and policy definitions will change.

There will be changes to the way insurance is calculated and provided by Aware Super:

• Corporate Plus members will have cover recalculated based on “age attained” instead of your “age next birthday at last 1 July”.  If you had a birthday between 1 July 2025 and 30 April 2026, your default cover may reduce on 1 May 2026. If you have voluntary cover, you may experience an increase in premiums on 1 May 2026.  This is because you will have reached the “age attained” in Aware Super. This essentially brings forward age-based changes that normally apply in your TelstraSuper account each year at 1 July.   
• Eligible Corporate Plus members aged 60 and over who are employed on a permanent basis or as a fixed term contractor: your current age-based default Death & TPD cover will change to formula-based cover from 1 May 2026. Your total cover will be recalculated using your employer reported salary under Aware Super’s Employer Tailored Basic Cover. You may experience an increase in premiums on 1 May 2026.
• Members who have already attained 75 years of age won’t have insurance cover after the merger, as Death cover ceases under the new policy terms at age attained 75. This means that if you’re already 75 years of age and still hold insurance, it will be cancelled on 30 April 2026.

Aware Super will confirm your insurance arrangements and new premiums in writing in late May 2026; and you’ll be able to see this information by logging in to Aware Super’s Member Online from 11 May 2026, where you can also apply to make changes to your insurance and submit a disability insurance claim.

Your Significant Event Notice summarises the key changes so you can see what’s changing at a glance. Additionally, Table 5 - Employer Tailored Basic Cover and Table 6 - Insurance terms, conditions and policy definitions in your Significant Event Notice contain more details of what’s changing from 1 May 2026.

For more details, including information on the new insurance premium rates that will apply to your insurance cover from 1 May 2026, please read the Changes to Insurance Booklet provided with your Significant Event Notice. You can learn more about the age changes for insurance cover in section 1.2 and 1.3 in the Changes to Insurance Booklet, which is also available at telstrasuper.com.au/merger. Alternatively,  you can call us on 1300 033 166 and we will mail you a copy. 

The Aware Super Future Saver Insurance Handbook – Telstra Group Limited and Associated Employers will be available at aware.com.au/pds from 30 April 2026.  You can also contact Aware Super after the merger to obtain a copy of the relevant insurance policies which will be issued by TAL Life Limited.

New insurance premium rates will apply to automatic default cover, (Employer Tailored Basic Cover) and any additional insurance you have with Aware Super from 1 May 2026.

In addition to insurance premiums, a new insurance administration fee of $1.85 per month ($22.20 per year) will apply.  Collectively, these are called insurance costs.

If you pay for any of your insurance costs (rather than your premiums being covered by additional employer contributions), Aware Super will generally deduct these from your Aware Super Future Saver account at the end of each month, rather than quarterly.  

Insurance costs, including how to calculate the cost of your cover, are outlined in section 1.4 and 1.7 in the Changes to Insurance Booklet.

Where your employer makes additional contributions to your account to cover some or all of your insurance costs (including the insurance administration fee), the deduction will occur when Aware Super receives that contribution.

As at the date of your Significant Event Notice, arrangements with individual employers were still being finalised. If your participating TelstraSuper employer currently makes additional employer contributions to TelstraSuper to cover the cost of insurance premiums for Death, TPD, or IP cover, as an additional employee benefit, we don’t expect this to change when your membership transfers to Aware Super. If this changes before the merger, we’ll update you using the TelstraSuper Merger Hub. If anything changes after the merger, Aware Super will let you know.

There are changes to various insurance terms and conditions, including the introduction of new policy definitions, and some existing insurance terms and conditions will cease to apply. A summary of the key changes is provided in Table 6 Insurance Terms and Conditions/Key changes to policy definitions in your Significant Event Notice.  

Additionally, you can find more information in sections 1.3 and 1.6 in the Changes to Insurance Booklet that summarises the changes provided with your Significant Event Notice. This booklet is also available at telstrasuper.com.au/merger. Alternatively, you can call us on 1300 033 166 and we will mail you a copy.  

If your employer pays additional contributions towards insurance premiums and the insurance administration fee, Aware Super provides a 15% rebate on insurance costs (both premiums and the insurance administration fee).

If your employer doesn’t pay additional contributions towards insurance premiums or the insurance administration fee, Aware Super provides a 15% rebate on insurance premiums.

The rebate will be credited to your account when the insurance costs are deducted at the end of each month, or on exit where you request a full withdrawal of your account. 

Your application to apply or increase insurance cover must be received by 17 April 2026. 

If your application is accepted before 30 April 2026, you will receive a confirmation from TelstraSuper and your insurance will be transferred to Aware Super on 1 May 2026, where it will then be provided by TAL Life Limited. 

However, if your application has not been finalised before 30 April 2026, you may need to submit a new application with Aware Super which will be assessed by TAL Life Limited.

After the merger, you'll still be able to apply for new or increased insurance cover in Aware Super if eligible.

From 11 May 2026, Aware Super will start processing all forms, including insurance applications and claims, submitted to Aware Super from 1 May 2026.

If you have a claim in progress or need to make a claim, it’s important to understand how the merger affects your cover and payments. The table in the Claims section of your Significant Event Notice outlines what happens to a claim before and after 30 April 2026.

 For more information on the impact of the merger on insurance disability claims, see section 1.1.1 in the Changes to Insurance Booklet. 

Like TelstraSuper, Aware Super provides annual statements after the end of each financial year, however they don’t provide an annual Insurance Statement. You will be able to view your insurance from 11 May 2026 and at any time thereafter in Aware Super’s platform, Member Online, and the Aware Super app. 

As part of our merger on 30 April 2026 with Aware Super, the insurance provider will change from Nippon Life Insurance Australia and New Zealand Limited ABN 90 000 000 402 AFSL 230694 trading as Acenda (formerly MLC Limited) to Aware Super’s insurer, TAL Life Limited ABN 70 050 109 450 AFSL 237848. This will be effective from 1 May, 2026.

If you become eligible or are currently eligible and considering obtaining insurance cover, there are some important updates you should be aware of. These relate to changes affecting Death, Total & Permanent Disablement (TPD), and Income Protection (IP) cover, as well as updated insurance premiums, terms and conditions, and policy definitions.

If you wish to apply for insurance cover, you’ll need to read the TelstraSuper Personal Plus Insurance Guide (available at telstrasuper.com.au/pds) and the Changes to Insurance Booklet (available at telstrasuper.com.au/merger) to ensure you understand the changes.

If you wish to apply for insurance over, your application must be received by 17 April 2026. You’ll need to read the TelstraSuper Personal Plus Insurance Guide (available at telstrasuper.com.au/pds) and the Changes to Insurance Booklet (available at telstrasuper.com.au/merger) to ensure you understand the changes.

If you left a Corporate Plus or Defined Benefit Employer on or after 1 January 2026 and you are under age 25 or have an account balance of less than $6,000, you may be eligible to reinstate your Death & TPD cover (by opting in by 28 April 2026) or apply to continue your IP cover (by 17 April 2026) after your transfer to TelstraSuper Personal Plus.

All other members who leave a Corporate Plus or Defined Benefit employer between 1 January 2026 and 30 April 2026 (inclusive) and who wish to retain their IP cover after their transfer to TelstraSuper Personal Plus, will need to complete the requirements outlined in the TelstraSuper welcome letter by 17 April 2026, subject to eligibility and applicable terms and conditions.

If you do not take action with TelstraSuper by the cut off dates outlined above, Aware Super will still accept your request after the merger. You can reinstate your Death & TPD cover and/or apply to continue your IP cover with Aware Super up until 30 June 2026, subject to the relevant terms and conditions.

For more details on how to reinstate your cover, please see section 2.5 in the Changes to Insurance Booklet.