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?

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.

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 5:30pm on 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.

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.

Most members will keep their existing member 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 be also in your welcome letter from Aware Super.

Your Aware Super account number will be the same as your TelstraSuper account number without any spaces.

You can find your account number on the cover letter to your Significant Event notice for this account.

If you have a Retirement Income Account, in addition to your Term Allocation Pension Account, your Retirement Income account number will be on the cover letter of the Significant Event Notice you receive for this account.

If you have more than one Retirement Income Stream account, you’ll need to refer to your last statements or SuperOnline for all your account numbers. (Your Significant Event Notice for your Retirement Income Stream accounts will only show one Retirement Income Stream account number).

You can find your TelstraSuper member number on your statements or by contacting TelstraSuper 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.

There is no buy/sell spread applied to the exit from TelstraSuper and joining Aware Super.

The transfer to Aware Super won’t impact your Transfer Balance Cap. Your transfer balance cap is set and monitored by the ATO, and the merger does not change your cap or reset it.

Recent changes to the law mean that members with a Term Allocated Pension account may be able to make a full withdrawal of their benefit prior to December 2029. This change wasn’t implemented at TelstraSuper. However, after your Term Allocated Pension is transferred to Aware Super, you’ll be able to fully withdraw or roll out of your Term Allocated Pension at any time (until December 2029). We recommend speaking with a financial adviser to understand how this may affect you.

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 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 submitted to Aware Super from 1 May 2026.

Additionally, from April 29 2026 close of business, there will be ‘Read only’ access to TelstraSuper’s SuperOnline and App.

From 30 April 2026, the last day of TelstraSuper membership, TelstraSuper phone lines, online services and other member services will cease at 6pm (AEST). This includes the “read only” SuperOnline and App access.

Yes. See FAQ on changes to allocated pension payment dates during and after the limited service period. 

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.

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 23 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. 

If you wish to change your bank details for your allocated pension payments this will need to be done before 23 April 2026. If this is not done before 23 April 2026, you will need to do this once you are at Aware Super from 11 May 2026 when the limited service period has ended. 

Your account will transfer from TelstraSuper Term Allocated Pension to Aware Super Term Allocated Pension. A Product Disclosure Statement (PDS) about your new product will be included with your welcome letter in May 2026. You can also download the PDS 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 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 valid death benefit beneficiary nomination, it’ll transfer to Aware Super and apply to each of your accounts. However, we encourage you to take this opportunity to review your arrangements to make sure they are up to date. If you would like to change or update your existing nomination, complete and return a Nomination of Beneficiary form before 28 April 2026.

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 nomination.

Aware Super offers members the opportunity to make or update a non-lapsing 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.

If you have a reversionary beneficiary nomination in place at TelstraSuper at the time of the transfer, regardless of relationship type, it’ll transfer to Aware Super and can be changed at any time. However, future reversionary beneficiary nominations at Aware Super must be a spouse/defacto partner.

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.

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’ll need to create a new username. If you receive a new member number (see member number FAQ) 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.

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. 

No. You do not need to change your bank details.  

However, if you wish to change your bank details for your allocated pension payments this will need to be done before 23 April 2026. If this is not done before 23 April 2026, you will need to do this once you are at Aware Super from 11 May 2026.   

Yes, all your TelstraSuper accounts will be transferred across and automatically transferred to the investment option(s) that most closely matches your current investment choice.  

No. There’ll be no impact to your Centrelink benefits as part of the transfer to Aware Super. Your account creation date with TelstraSuper will be grandfathered and maintained at Aware Super.

Yes. You can access the Aware Super mobile app from 11 May 2026 using either your member number or username. The app allows you to check your allocated pension payments, transactions, balance and fees. You can also use the app to update your personal details and communications preferences.  You can download Aware Super’s mobile app from your Play store (for Android) or the App store (for Apple). 

Like TelstraSuper, Aware Super provides annual statements after the end of each financial year.   

Your last scheduled TelstraSuper member pension payment for fortnightly, monthly, or annual payments will be paid a couple of days earlier commencing 27 April 2026.  

TelstraSuper may be required to complete an additional pension payment if you haven’t met your required pension minimum for the financial year. In the event this is required a pro rata pension minimum payment will be paid to you as part of an additional pension run and distributed 30 April 2026. TelstraSuper will confirm ahead of this date if this payment is required.

Your current pension payment elections, including the payment amount and frequency, will generally remain unchanged after the merger. Aware Super will send you a welcome letter that includes a summary of your Aware Super account and confirmation pension payment amount and details.

Pension payment dates following the merger are shown below:
 

** Please note that if the transition activities take longer than expected, this date will change. If this occurs, we will let you know. 

Aware Super’s fortnightly income payments are processed every second Tuesday, and all other frequencies are processed on the 13th of the relevant month. If this date falls on a public holiday or weekend, your payment will be processed by Aware Super on the prior business day.

For more information, please refer to your welcome letter and the Term Allocated Pension PDS that will be available from 30 April 2026 from aware.com.au/pds.

You can also find more information from the Retirement Income payment calendar available on Aware Super’s website for more information. This calendar and content also applies to Term Allocated Pension members.

If you wish to change your pension schedule, this will need to be done before 23 April 2026 or after 11 May, due to the limited service period while the merger is finalised. 

If you wish to change your pension payment amount, this will need to be done before 23 April 2026 or after 11 May, due to the limited service period while the merger is finalised. 

No, your pension payments amounts will stay exactly as you’ve nominated. The merger does not change the drawdown amount you’ve chosen or the way it is applied.

However, as noted above, TelstraSuper may be required to complete an additional pension payment if you haven’t met your required pension minimum for the financial year.

Recent changes to the law mean that members with a Term Allocated Pension account may be able to make a full withdrawal of their benefit prior to December 2029. This change wasn’t implemented at TelstraSuper. However, after your Term Allocated Pension is transferred to Aware Super, you’ll be able to fully withdraw or roll out of your Term Allocated Pension at any time (until December 2029). We recommend speaking with a financial adviser to understand how this may affect you.

Upon transfer to Aware Super, your account will be automatically transferred to the investment option(s) that most closely matches how your account balance is invested in TelstraSuper, and in the same proportions. Your pension payments will be withdrawn from the investment option(s) that most closely matches your existing drawdown profile.

You can find more about how Aware Super’s Retirement Income investment options and characteristics compare with Telstra’s Term Allocated Pension investment options in Table 3 - Investment option comparison of 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 Retirement Income PDS available at aware.com.au/pds. You can also find information on the Aware Super investment options on their website at aware.com.au/invest.

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

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 costs and transaction costs comparison of your Significant Event Notice. 

For more information about Aware Super’s fees and costs, including the fees and costs of other Aware Super options not listed in the Significant Event Notice, read the Aware Super Term Allocated Pension Product Disclosure Statement (PDS) and the Retirement products PDS update available at aware.com.au/pds from 30 April 2026.

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.

At Aware Super, you’re able to nominate where your pension payment is drawn from however if no nomination is made, then a default payments order will apply. 

Under the default payment order, income will initially be withdrawn from the first investment option on the list below that you hold. If funds in that option run out, Aware Super will then withdraw income from the next investment option on the list that you hold, and so on, until all relevant allocations are exhausted.

Default payment order

• 1 Cash 
• 2 Bonds  
• 3 Defensive  
• 4 Conservative Indexed 
• 5 Conservative 
• 6 Conservative Socially Conscious 
• 7 Conservative Balanced Indexed 
• 8 Conservative Balanced 
• 9 Conservative Balanced Socially Conscious 
• 10 Balanced 
• 11 High Growth 
• 12 Property 
• 13 Australian Shares 
• 14 International Shares 

Your existing pension payment profile will be maintained upon transfer to Aware Super. Your payment amount will also stay the same for the rest of the financial year after the merger, unless you chose to receive only the minimum pension and have already been paid the minimum amount for the year at TelstraSuper.

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 23 April 2026. After this time, investment switches will be unavailable until 11 May 2026.

Aware Super does not have a cash allocation feature for their retirement product.  

The final cash allocation from the lifestyle investment will be completed by the end of March. There will be no cash allocation completed for month of April 2026 onwards. 

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 learn more about Aware Super’s approach to sustainable investment read to the Responsible Ownership section of the Aware Super Term Allocated Pension PDS available at aware.com.au/pds from 30 April 2026 or go to aware.com.au/responsiblesuper.