Telstra super changes
The Government’s intended sale of the third tranche of will have implications for the superannuation arrangements of a large number of Telstra employees.
The large Commonwealth public service superannuation scheme, CSS, has informed members employed within Telstra that when the Australian Government ceases to be the majority owner of the business, contributory membership of its employer-financed superannuation arrangement will also cease.
“That means Telstra employees who are members of the CSS will cease to have their CSS membership,” the fund told its members.
The superannuation fund has told its members that they will have a number of choices, including preserving their entire benefit until age 55, rolling over the amount into a complying fund or taking a delayed updated pension that can be accessed at retirement.
AUTHOR
Mike Taylor
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