TelstraSuper will raise the ages for member exposure to growth assets for its MySuper lifecycle products.
Members’ exposure to growth assets will be adjusted, reducing at age 50 instead of 45, and further decreasing at age 70 rather than 65. This approach aims to provide younger members with a longer time frame to navigate market fluctuations and benefit from growth-oriented investments.
This can add extra money to the retirement balance of an average TelstraSuper member over their working life by the time they reach 70. Lifecycle products gradually reduce members’ exposure to growth assets as they get older.
The changes take effect on 1 October.