Understanding your super returns

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. 

Remember, super is a long term investment

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.  

Find out more

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.  

When do I receive my BT Super annual statement?

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.

Find out when you'll receive your statement

Investments Date
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

Understand how your super is invested

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)

How do you feel about risk and investing?

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).

Need advice? We can help.

We can help you with general advice, personal advice on specific needs or a single topic – for example, just your super – or with detailed advice and a full financial plan that looks at your whole picture. We can even find you a financial adviser locally.

Year End Q&A

Superannuation Q&A

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:

  • meet the eligibility criteria to claim a deduction (this can be found by visiting ato.gov.au and searching for ‘Claiming deductions for personal super contributions’)
  • complete and return a Notice of intent to claim or vary a deduction for personal super contributions* (‘Notice’) to us either:
    • on or before the day you lodge your income tax return for the 2015/16 financial year, or
    • before 30 June 2016
    whichever occurs first.

* 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:

  • on or before the day you lodge your income tax return for the 2014/15 financial year, or
  • before 30 June 2016

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
2015/16 2016/17
Under 65 4.00 4.00
65-74 5.00 5.00
75-79 6.00 6.00
80-84 7.00 7.00
85-89 9.00 9.00
90-94 11.00 11.00
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. 

Investment Q&A

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

View more information and distribution history.

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.

Employer Specific Q&A

For SuperStream specific information, please refer to bt.com.au/help/basics-superstream.asp

  • What is an ESA?
    • ESA stands for electronic service address. This is a provider that is assigned to a SMSF by the ATO. The owner of the SMSF must get this from the ATO
  • How can I be compliant if I only have 1 employee?
    • There are range of clearing house services available for employers needing to pay only one employee.
      • The ATO offers a free of charge small business clearing house for businesses with no more than 19 employees or no more than $2mil aggregated turnover.
      • Westpac Quicksuper
    • There are some exceptions to SuperStream
      • If you are a sole trader and pay into your own superannuation account, you can continue as normal
      • If you are the owner of a business and pay into a SMSF and your employees are family members who also get there super paid into the SMSF, you may be exempt (check with accountant first)
  • How far in advance should I process contributions before year end?
    • It is advised to have everything ready to go two weeks in advance. Creating new employees in a QuickSuper portal can take 24-48 hours to open a new account and provide you with an account number which may hold up the contribution.
  • How much employee information will I need?
    • SuperStream aims to get as much member data as possible to speed up the contribution process and deliver funds to our members accounts as soon as possible. Employees TFNs’ are now used as the main identifier for super accounts. The more information you can get the better.
For more information, contact BT