The Board overseeing Catholic Super and the Board of TelstraSuper have signed a binding Heads of Agreement and agreed to proceed with a ‘merger of equals’ between the two funds.

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We’re making changes to our retirement products

As many members will recall, in 2019 Catholic Super (and MyLife MyPension) entered a joint venture with Equip Super that resulted in a merger between the two funds in 2021. MyLife MyPension members have already enjoyed several benefits from this merger, most notably through a substantial reduction in investment fees.

The changes we’re making at 1 July 2023 help us to consolidate how we administer and operate the Fund, leading to better outcomes for our members. Importantly, these changes will also strengthen our foundation as a fund, positioning us for future growth and stability.

As part of this consolidation, the MyLife MyPension brand will be retired, with all members automatically moving into Catholic Super. Catholic Super has always been the super fund behind the MyLife MyPension brand, offering the same benefits. It’s a change in name only – you’ll still receive the same quality pension products and services that you’ve always received from us.

There’s nothing you need to do as a result of these changes, and your usual income payments from your account will not be affected. However, please note that there may be some temporary impacts to some of our services as the changes are implemented.

Do you need to do anything?

There’s nothing you need to do as a result of these changes, and your usual income payments from your account will not be affected.

Frequently asked questions

Catholic Super and MyLife MyPension have always operated as part of the same Fund under the same trustee.

Ultimately, it is a change in brand only – the products and services remain the same.

All teams in the Fund, including Investments, Service Centre and Financial Advice, employ the same staff that served you in MyLife MyPension.

Most Australian super funds don’t have a separate brand for their pension product. Retiring the MyLife MyPension brand brings Catholic Super in line with other funds and reducing the number of brands reduces costs for all members.

Catholic Super consistently achieves high member satisfaction scores when compared to industry peers, according to Roy Morgan’s recent Superannuation Satisfaction Report to September 2022*, Catholic Super members are among the most satisfied industry fund members in Australia. We look forward to welcoming you to Catholic Super.

*Roy Morgan, Customer Satisfaction - Financial Performance of Superannuation in Australia, September 2022

Catholic Super has recently upgraded our offer, products and services.

Catholic Super proactively engages members during their retirement journey with communications that contain information relevant to their life stage.

We have a retirement concierge team which phones members at certain stages of their lives to discuss their super and pension needs and offers assistance and support.

Catholic Super’s Retirement Income account offers MyPension, an innovative set-and-forget investment strategy. Our industry-leading investment team make the investment decisions for you using the ‘three bucket’ strategy, so you don’t have to worry about managing your investments.

Members are also able to:

  • Seek financial advice to determine and implement personal financial strategies;
  • Increase their financial knowledge and literacy through online education modules; and
  • Conduct self-assessments, set goals and track their progress through our tools and calculators.

Catholic Super’s Retirement Income account offers MyPension, an innovative set-and-forget investment strategy designed to take the hard work out of investing your retirement savings. We make the decisions for you using our ‘three bucket’ strategy, so you don’t have to worry about managing your investments.

If you choose MyPension, we’ll put three years’ worth of your chosen income into the Cash bucket. The remaining balance is then split between the Capital Stable bucket, and the Growth bucket.

Every April and October, we’ll review all three of your buckets and rebalance your overall portfolio with the objective of maintaining a minimum of two years' worth of income payments in your Cash bucket.

Despite the name, Catholic Super isn’t a religious organisation. 

Catholic Super was launched in 1971 to provide superannuation for teachers and other staff in Victorian Catholic Schools. And while we proudly continue to support many employers and members from the Catholic community to this day, we’re not affiliated with the Catholic Church itself. Indeed, we partner with a range of employers from a variety of different industries, including education, health care, aged care and transportation.

An option is to transition to our master brand, Equip Super.

Equip Super is committed to ensuring optimal outcomes for retirees through a personalised approach to solutions, products and services.

Members are able to:

  • Seek financial advice to determine and implement personal financial strategies;
  • Increase their financial knowledge and literacy through online education modules; and
  • Conduct self-assessments, set goals and track their progress through our tools and calculators.

Equip Super proactively engages members during their retirement journey with communications that contain information relevant to their life stage and through its retirement concierge service it phones members identified as needing further assistance and support.

Equip Super’s Retirement Income account offers MyPension, an innovative set-and-forget investment strategy designed to take the hard work out of investing your retirement savings. We make the decisions for you using our ‘three bucket’ strategy, so you don’t have to worry about managing your investments. (see FAQ What is the “three bucket strategy” that the Catholic Super MyPension employs? for information on how MyPension works)

Head to our website to learn more about Equip Super’s pension products and services. Note that the MyPension strategy is not available to Transition to Retirement pension members.

Over the phone, online via the member portal or through completing the Request to vary your pension payment form.

No. Your scheduled payments will go ahead as usual.

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