Over the last 12 months, Australian and international share markets have experienced periods of volatility which has led to lower returns for super members than in recent years.
To help you understand more about what’s happened in investment markets over the last year and what this means for your super – we take a closer look and put this into context for you.
It’s important not to over-react when investment markets move one way or another – market fluctuations are a normal part of the investing cycle. Make sure you have a plan for your super and stick to it.
Read our tips on what you should keep in mind when looking at your super and what’s happening in investment markets.
Take a long term view – market fluctuations are a normal part of the investing cycle. Over-reacting and making short term decisions can mean missing out on subsequent market improvements.
Understand how your super is invested – check your annual statement to see how your super is invested. It’s likely to be allocated to a range of types of investments, not just shares. This diversification helps offset market volatility in a particular investment type.
Have a super plan and stick to it – evaluate your attitude to risk and investing and build this into your plan. Review it regularly to ensure you’re still on track to meet your goals. Our Risk Profiler at bt.com.au can help.
Get advice from the experts – speak to your financial adviser if you have one. Or we can help with advice on your super, or a full financial plan. We can even help you find a financial adviser locally.
Make the most of your super – get involved, it’s your money and likely one of the single biggest investments you’ll ever make.
Annual statements for BT Super members are sent across July, August and September. Your statement includes important information on your contributions, how your super is invested and your super returns.
|Cash Fund Investments (CMT)||11/07/2016|
|Retail Investment Annual Statements||25/07/2016 to 05/08/2016|
|Retail Investment Tax Statements||27/07/2016 to 08/08/2016|
|Retail Investment CGT Statements||01/08/2016 to 09/08/2016|
|Guaranteed Income Plan||8/07/2016|
|Flexible Income Plan||11/07/2016|
|Variable Income Plan||11/07/2016|
|Westpac Rollover Bond and Rollover investment Bond (R&J)||28/07/2016|
|BT Super For Life||29/07/2016 to 11/08/2016|
|BT Classic Personal Plan (SRP)||18/07/2016|
|BT Retirement Selection plan (PSB)||15/07/2016|
|BT Superannuation Savings Fund and BT Superannuation Investment Fund (WSS/WSI)||19/07/2016|
|BT Lifetime Personal Super (LSF)||21/07/2016|
|Westpac personal super investment (E) and Westpac Simple (2)||2/08/2016|
|Westpac personal super (P)||3/08/2016|
|Westpac Lifetime Superannuation Service(Q, QT, QN)||4/08/2016|
|BT Business Super||From September|
|BT Lifetime Super Employer Plan||From September|
|BT Lifetime – Flexible Pension||13/07/2016|
|BT Classic Lifetime – Flexible Pension||13/07/2016|
|Complying Income Plan||7/07/2016|
Our Fund Fact Sheets give you a detailed view for each investment option available for your BT Super fund.
BT Super for Life – Fund Fact Sheets
BT Lifetime Super - Employer Plan – Fund Fact Sheets (Select your investment option(s) from the drop-down menu)
BT Business Super – Fund Fact Sheets (Select your investment option(s) from the drop-down menu)
BT Lifetime - Personal Super – Fund Fact Sheets (Select your investment option(s) from the drop-down menu)
Our BT Risk Profiler helps you understand how you feel about risk. It provides guidelines that may help you determine how to allocate the super funds you have available for investing among the major asset classes (i.e. shares, property, fixed interest and cash).
Can I transfer funds out of my super fund if I make a mistake?
Transfers into a super account cannot be reversed and generally will not be accessible until you retire. For more info regarding release of super, see bt.com.au/super/learn/the-basics.asp
How do I claim a tax deduction for my personal contributions?
You may be eligible to claim a tax deduction for personal superannuation contributions you have made. Generally, eligible persons include self-employed persons, substantially self-employed persons and non-employed persons.
If you wish to claim a tax deduction for personal contributions you’ve made during the 2014/15 financial year, you must:
* This form can also be used to vary the amount you wish to claim as a deduction.
Note: If you wish to claim a tax deduction for personal contributions you made during the 2014/15 financial year, you must complete and return your Notice to us either:
Whichever occurs first.
After receiving your Notice we will send you a letter, within 30 days, acknowledging the amount you will be claiming. You must receive this acknowledgment letter before you can claim a deduction for your contributions in your tax return.
What is the minimum annual pension percentage and how do I amend my minimum pension payment?
The minimum payment for an account based income stream is determined by multiplying the account balance by the age based percentage. The below table illustrates the age based percentage applicable for the current and the next financial year.
|Age (at commencement or each 1 July)||Percentage of account balance|
|95 or more||14.00||14.00|
BT Lifetime – Flexible Pension and BT Classic Lifetime – Flexible Pension members who’d like to change their pension payments or have any additional queries may call Customer Relations on 132 135.
BT Super for Life members who would like to update their pension payment amount should do so by logging in to their BT Super for Life account via Internet Banking, or by calling a BT Super for Life Customer Relations Specialist on 1300 653 553.
Will I receive a tax statement for my superannuation account?
No, tax statements are not produced for BT Superannuation accounts.
When will I receive a distribution payment for my investments?
The table below illustrates the quarterly distribution and statement mailing dates for Retail Investments.
|Product||Payment of distributions*|
|BT Investment Funds (including BT Classic Investment Funds)||From 11 July 2016|
|BT Investor Choice Funds||From 11 July 2016|
|Cash Funds (including BT Premium Cash Fund, BT Cash Management Trust & Westpac Cash Management Trust)||From 4 July 2016|
*Dates are indicative only
Will I receive a tax statement this year?
If your Fund(s) did paid you any distributions in this statement’s financial year (excluding distributions paid effective 1 July, which are considered part of the previous financial year), you will receive a tax statement. We are not required to produce a tax statement if no income is paid. Please note that an increase in the value of your units as a result of positive performance does not constitute income.
Will I receive a capital gains tax (CGT) statement this year?
If you redeemed or switched any units in your Fund, or transferred units to another investment in this statement’s financial year, you may receive a CGT statement. We are not required to produce a capital gains tax statement when no redemptions, switches or transfers have occurred. Please note that an increase or decrease in the value of your units as a result of performance does not constitute a capital gain or loss.
For SuperStream specific information, please refer to bt.com.au/help/basics-superstream.asp