Telstra Super has unveiled a specialised investment option aimed at pension members who are looking for an income stream.

The Diversified Income option was designed to "meet the needs of members primarily looking for an income stream, while still achieving some growth on their initial investment capital", Telstra Super said.

The option would invest 50 per cent in growth assets and 50 per cent in other financial assets, a spokesperson for the corporate fund said.

Members can access the income generated by the new option through their pension account.

"Our Diversified Income product was specifically developed in response to both feedback from our members and results emanating from a wide-ranging member research and segmentation study," Telstra Super general manager of development and distribution Kevin Moloney said.

"In this time of ongoing market volatility, it's never been more important for funds to listen carefully to their members and to ensure sufficient investment choices are available to meet their diverse needs.

"Product development and enhancement is a key operational pillar for Telstra Super and we look forward to sharing even more exciting developments with our members in the coming financial year."

The launch follows the fund's introduction of the Defensive Growth product on 1 July 2010, which now holds over $200 million in funds under management.

According to SuperRatings figures, the option achieved a one-year return of 6.42 per cent in the 12 months to 30 April 2012.