BT Super for Life
Essentials
BT Super for Life
Super is your long-term savings for retirement. Westpac and BT are pleased to give you access to a super fund that lets you manage your super as quickly and easily as your online banking. BT is part of the Westpac Group.
BT and Westpac also make it easy to find your super with Westpac SuperCheck. Best of all it only takes a matter of seconds. Watch this video in less than 60 seconds, just like a Westpac SuperCheck.
SuperCheck
Find your super in seconds with a Westpac SuperCheck.
Side-by-side with your online banking
Manage your super right along side your everyday banking.
No commissions
Or contribution fees could add up to more super for you.
Benefits Now
Access to great deals and discounts on everyday items.
Start with a Westpac SuperCheck
Westpac SuperCheck takes the time and effort out of discovering how much super you have and where it is. If you’ve changed jobs, done casual or part-time work, moved house or changed your name, then you could be one of the many Australians who have lost track of some super.
We can help you track it down. Best of all it only takes a matter of seconds.
Check your super in seconds
Why pay extra fees?
At BT Super for Life we work hard to give your super the best chance to grow. No commissions, withdrawal or contribution fees means more money in your super account.
Understanding what you pay for
| Fee | Amount |
|---|---|
| Administration fees | $6.50 per month + 0.45%1 p.a. |
| Investment fee | Estimated 0% to 1.38%2 p.a. |
| Buy-Sell spread | Estimated 0% - 0.60%2 p.a. |
| Indirect cost ratio | Estimated 0% to 1.28%2 p.a. |
The above summary of the Fees and Costs are current as at 1st July 2019.
The above is a summary only of the fees and costs. Other fees and costs may apply depending on investment, insurance and advice decisions. Please refer to the PDS and AIB for further information.
BT Super for Life – Cash account interest rate
| Variable rate |
|
|---|---|
| Current interest rate | 1.25% p.a. 3 |
You can choose how your super is invested.
1. Let us invest your super based on your age
We'll do the hard work and invest your super based on your age in a Lifestage Fund. A Lifestage Fund is a well-diversified portfolio of assets designed and managed according to your age. Over time the fund will gradually shift to a more conservative asset mix. It generally does this by decreasing its allocation to growth assets and increasing its allocation to conservative assets.
2. Choose your own investment mix
If you prefer to choose your own investment mix, you can select from a range of investment options including diversified, specialist and sector-specific investment options.
Tools & Calculators
Things you should know
BT Super for Life Product Disclosure Statement
BT Super for Life Financial Services Guide
BT Super for Life Additional Information
The information shown on this site does not take into account your personal objectives, financial situation or needs and so you should consider its appropriateness having regard to these factors before acting on it. Any taxation position described is a general statement and should only be used as a guide. It does not constitute tax advice and is based on current tax laws and our interpretation. Your individual situation may differ and you should seek independent professional tax advice.
#You receive standard insurance cover for Death and Total & Permanent Disability (TPD), without the need for a medical assessment, when you open a BT Super for Life – Super account (subject to eligibility criteria and you having money in your account). Cover is subject to a pre-existing conditions exclusion. Other exclusions may also apply. Please refer to the Additional Information Booklet for more information about ‘What exclusions apply to Standard Cover'. If you want to apply for additional insurance cover, including Salary Continuance Insurance (SCI) cover, call our super specialists on 1300 653 553.
1 This is 0% p.a. for Cash. For example, if you invest in the cash investment option you will be charged $6.50 per month ($78.00pa) plus 0% p.a. of your account balance.
2 The fees and costs payable depend on the investment option you choose – refer to the Additional Information Booklet for further information.
3 Rate is current as at 15th August 2019. Rate is subject to change at any time. The interest paid out on a BT Super for Life Cash investment will differ according to the following scenarios:
In a BT Super for Life Retirement account, the interest paid will be 1.25% p.a. No tax is payable on the interest.
In a BT Super for Life Super or Transition to Retirement account, the interest paid will be 1.25% p.a. minus 15% tax. In a BT Super for Life Super account you are unable to access your benefit in this account until you're retired, reach your preservation age or meet a condition of release.
Interest rates shown are gross annualised rates before the deduction of management costs (currently nil) and earnings tax (currently 15%).
Interest rates are determined in advance and may increase or decrease at any time without notice.
Past interest rates are not an indication of future interest rates or performance.
Other fees such as performance fees and expense recoveries may apply.
Westpac SuperCheck involves a search for superannuation being undertaken by BT Funds Management Limited ABN 63 002 916 458, AFSL No.233724 (BTFM), the trustee and issuer of interests in BT Super for Life, which is a part of Retirement Wrap ABN 39 827 542 991. A Product Disclosure Statement (PDS) for BT Super for Life can be obtained by calling 1300 653 553 or by visiting bt.com.au. You should obtain and consider the PDS before deciding whether to acquire, continue to hold or dispose interests into BT Super for Life. BTFM is a member of BT Financial Group – A Division of the Westpac Group.
An investment with BT Financial Group is not an investment in, deposit with or any other liability of Westpac Banking Corporation ABN 33 007 457 141 (Westpac) or any other company in the Westpac Group. It is subject to investment risk, including possible delays in repayment of withdrawal proceeds and loss of income and principal invested. Westpac and its related entities do not stand behind or otherwise guarantee the capital value or investment performance of an investment with BT Financial Group.
Before requesting a rollover, you should consider where your future employer contributions will be paid (if your employer contributions are currently being paid to another fund) and check with your fund(s) to determine whether there are any fees, including exit or withdrawal fees, for moving your benefit, or other loss of benefits (e.g. insurance cover), noting that you may not receive the same type or level of benefits after the rollover. If you have a pre-existing medical condition you may not receive a benefit for a death or disability claim. Please check to see if you are covered before submitting your application.
Westpac Life Insurance Services Limited ABN 31 003 149 157, AFSL No. 233728 is the issuer of insurance cover offered through BT Super for Life. Further information about the insurance available through BT Super for Life is included in the PDS.
Superannuation is a preserved asset subject to conditions of release. You will need to satisfy a condition of release to access these funds.
©2018 BT Financial Group – A Division of Westpac Banking Corporation. Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714. Information current as at 16 September 2016.