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How to apply

BT Super for Life

Conveniently use Internet Banking to view and manage your super

BT Super for Life is a flexible superannuation account that aims to make the most of your super by offering:

  • Low transparent fees - 42% less fees than the average retail super fund1
  • No commissions, entry fees or exit fees
  • Flexibility to manage your super via Internet Banking alongside your everyday bank accounts
  • Convenience of one fund for life you take with you from job to job
  • Flexibility to choose your own investment option, or let us choose an investment mix for you based on your age
  • Tax effective life insurance paid directly from your BT Super for Life account
  • Award winning performance
  • Our Branch Advantage™ – visit us in branch and we’ll help consolidate your super and locate your lost super, for FREE2
How to apply

Access to your super via Internet Banking

  • Simple access to your super and bank accounts with a single password
  • View your account balance online
  • Top-up your super from your savings at the click of a button
  • Manage your super with ease - change your investment options, view your transaction history and fund performance
  • Make easy withdrawals when you retire - set up regular withdrawals or make one-off withdrawals to your bank account

Branch Advantage™ to help consolidate your super2

Visit us in branch and we can help you:

  • Avoid the paperwork
  • Open your new BT Super for Life account
  • Track down your old super accounts
  • If you have multiple super funds help you combine your super2

This means no confusing forms, paperwork or calling old super funds. We will do everything required to open your new account and consolidate your old ones in branch for FREE!

Tax-effective life insurance

  • Insurance cover paid tax-effectively from your superannuation
  • Insurance cover that you don't need to budget for
  • 'No-questions-asked' Death and Total & Permanent Disability cover
  • Additional option of Customised cover which includes Salary Continuance Insurance

One fund for life – made up of three sub accounts

Depending on your stage in life open your account as one of the following:

Let BT manage your money for you

  • We invest your super according to your age and change your investment mix as you get older. This is known as a lifestage fund
  • When you are younger, your fund will be more growth-oriented. Over time the fund will shift to a more conservative asset mix

Choose your own investment options

  • Specify an investment mix yourself by making a choice from the investment options we offer, suited to your own investment style
  • Select from four different funds - Growth, Moderate, Conservative and Super Cash

Low, transparent fees

  • 42% lower than the average retail personal super fund^
  • No switching, establishment, contribution, withdrawal, termination fees or commissions

Management fee

  • 0% p.a. for Super Cash account
  • 0.99% p.a. of account balances for all other investment options

Administration fee

  • $5 per month

How to combine your super

The average Australian has multiple super funds. That's extra fees you could be saving if you just had the one account. We can take the hassle out of tracking down and combining your super2; just visit us in branch and we'll organise it all: for free. We call that our Branch Advantage™.

Visit us in branch with:

  • Your tax File Number
  • Any old super statements you might have lying around
  • ID like a passport and driver’s license

Bring in your shoebox of paperwork and we’ll help you get it sorted.

Just remember:

  • Your current fund may have withdrawal or exit fees applicable. Check what fees may apply before you proceed and determine whether closing the account is the right strategy for you.
  • Insurance cover – do you already have life insurance as part of your super fund? That cover will cease once you close the fund. Consider setting up appropriate insurance on your new, combined account.

Find your nearest branch

Logon & Apply

  • If you are an existing Bank of Melbourne customer and you have registered for Internet Banking, Logon and open your account.

Find your nearest branch

  • Visit us in branch

 

Requirements

  • It takes about 10 minutes to set up your account and you’ll need your Tax File Number

 

The Detail

This information has been prepared without taking account of your objectives, financial situation or needs. Because of this you should, before acting on this information, consider its appropriateness, having regard to your objectives, financial situation and needs.

An investment in BT Super for Life is not an investment in, deposit with or any other liability of Westpac Banking Corporation ABN 33 007 457 141, Bank of Melbourne, St.George or BankSA (which are Divisions of 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. Neither Westpac nor any other company in the Westpac Group has issued, stands behind or otherwise guarantees the capital value or investment performance of BT Super for Life.

See how our fees compare to other personal super providers.

1. Source of 42% less statement: Super Ratings Pty Ltd, commissioned by BT and based on information as at 30 December 2011 and on a survey of average fees of a sample of retail personal super funds for an account balance of $50,000 and $5,000 contribution p.a. Fees may change in the future which may affect this outcome.

2. There is no charge for accepting any rollovers, but before requesting a rollover, you should check with your other fund/s to see if there are any exit fees for moving your benefit, or other loss of benefit (e.g. insurance cover). There may be limited circumstances where your employer is not required to accept your Choice of Superannuation fund form eg. If you have already exercised Super Choice in the last 12 months.

BT Funds Management Limited ABN 63 002 916 458 is the issuer of interests in the BT Super for Life which is a part of Retirement Wrap ABN 39 827 542 991, RSE R1001327. You can download a Product Disclosure Statement (PDS) and Financial Services Guide (FSG), or obtain a copy by calling 1300 653 553, or visit any Bank of Melbourne branch. You should obtain and consider the PDS and FSG before deciding whether to acquire, continue to hold or dispose of interests in the Fund. An investment in BT Super for Life is not an investment in, deposit with or any other liability of Westpac Banking Corporation ABN 33 007 457 141 (Westpac), St.George Bank, BankSA, or Bank of Melbourne (which are Divisions of 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. Neither Westpac nor any other company in the Westpac Group has issued, stands behind or otherwise guarantees the capital value or investment performance of BT Super for Life.

Novel and innovative features of the BT Super for Life product are the subject of Australian Innovation Patent No. 2011101184.