Australia Court Finds $20 Billion Trustee Telstra Super (Now Known as Tetra Servicing) Accountable in Failure to Comply with International Dispute Resolution Procedures by Failing to Respond to Complaints Within 45-Day Mandatory Timeline Telstra Super is Trustee for Telstra Superannuation Scheme with $20 Billion AUM & 85,000 Members, Telstra Superannuation Scheme Merged with Aware Super in 2026 April
8th May 2026 | Hong Kong
An Australia court has found $20 billion trustee Telstra Super (now known as Tetra Servicing) accountable in failure to comply with international dispute resolution procedures by failing to respond to complaints within the 45-day mandatory timeline. Telstra Super is trustee for Telstra Superannuation Scheme with $20 billion AUM & 85,000 members. In 2026 April, Telstra Superannuation Scheme merged with Aware Super. Announcement (7/5/26): “The Federal Court has found Telstra Super (now known as Tetra Servicing Pty Ltd) failed to comply with its internal dispute resolution procedures. On 30 April 2026, the Court found that Telstra Super failed to respond to about one third of the relevant complaints made between 22 October 2021 and 13 January 2023 within the mandatory 45-day timeline. In about 30% of those cases, Telstra Super provided its response more than 100 days after it had received the complaint. The Court also found that, in respect of some complaints, Telstra Super failed to explain why there was a delay in responding and failed to inform some complainants about their right to take their complaint to AFCA. The Court did not find that Telstra Super failed to do all things necessary to deliver financial services efficiently, honestly and fairly when it failed to comply with its procedures. Nor did it find that Telstra Super failed to adequately resource its internal dispute resolution process. ASIC Deputy Chair Sarah Court said it was unacceptable that such a high percentage of complaints were mishandled, with many members left in the dark about the reasons behind these delays, further compounding their frustration. The proceedings against Telstra Super are the first ASIC has brought under the internal dispute resolution requirements, which came into effect in October 2021. Under the requirements, superannuation trustees must respond to most complaints within 45 days. Background – Telstra Super Pty Ltd was the trustee of the Telstra Superannuation Scheme, a fund with 85,000 members and over $27 billion in funds under management as at 30 June 2025. Telstra Super merged with Aware Super on 30 April 2026. Telstra Super members are now members of Aware Super. The members’ account balances and benefits were automatically transferred to Aware Super. After the merger, Telstra Super Pty Ltd changed their name to Tetra Servicing Pty Ltd. The mandatory internal dispute resolution obligations, and ASIC’s guidance on internal dispute resolution, are set out in ASIC’s Regulatory Guide 271 Internal dispute resolution (RG 271). In December 2022, ASIC gave notice to Superannuation trustees to improve their internal dispute resolution systems and outlined ASIC would consider regulatory action where it held serious concerns (22-347MR). As announced in ASIC’s 2025-26 Corporate Plan, ASIC has also commenced the next phase of its multi-year project on superannuation member services. We are focusing on how Superannuation trustees use complaints data to identify and address systemic issues. Our focus includes testing trustee compliance with relevant provisions in RG 271.”
“ Australia Court Finds $20 Billion Trustee Telstra Super (Now Known as Tetra Servicing) Accountable in Failure to Comply with International Dispute Resolution Procedures by Failing to Respond to Complaints Within 45-Day Mandatory Timeline Telstra Super is Trustee for Telstra Superannuation Scheme with $20 Billion AUM & 85,000 Members, Telstra Superannuation Scheme Merged with Aware Super in 2026 April “
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Australia Court Finds $20 Billion Trustee Telstra Super (Now Known as Tetra Servicing) Accountable in Failure to Comply with International Dispute Resolution Procedures by Failing to Respond to Complaints Within 45-Day Mandatory Timeline Telstra Super is Trustee for Telstra Superannuation Scheme with $20 Billion AUM & 85,000 Members, Telstra Superannuation Scheme Merged with Aware Super in 2026 April
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