BT launches digital-first corporate super product

Update on BT’s new corporate super product, BT Super:

• First corporate super offer harnessing digital capability of BT Panorama
• 40+ quality investment options from leading global fund managers
• Competitively priced against key industry and retail peers
• Comprehensive wellbeing program for employers and employees
• Built for employers no matter their size
  

BT has launched a new corporate super product, BT Super offering members investment choice from leading global fund managers and harnessing the digital capability of BT Panorama.

BT Head of Workplace Super, Matthew Englund said: “BT is driving super innovation to meet employer and member needs at a time when member choice and access to contemporary quality products are top of mind.”

BT Super provides members with access to a competitively priced range of investments from leading investment managers including Fidelity Investments, Pimco, Magellan Financial Group and Pendal Group.

Harnessing the award-wining digital capability of BT Panorama¹, BT Super offers members improved functionality and tools including support to help members review their risk profile, update their beneficiaries and select their investment options if they choose.

BT Super offers access to a wellbeing program including BT’s My Wellbeing portal to help members achieve their health and wellness goals, and a benefits program, Benefits Now offering savings on a range of lifestyle products and services.

Mr Englund said: “The needs of employers can vary so we had to find a way to meet every employer and their employee’s needs. We know that smaller businesses sometimes have limited time and resources, so they tend to want ease of use, help with managing compliance, and support when they need it, while larger employers may be more focussed on the range of investment options and employee benefits offered to their employees.

“BT Super has been developed with feedback from employers and employees to cater to their needs, no matter their size. Because employers and their members are increasingly looking for mobile capability, it was important that BT Super be first and foremost digital, providing access via BT Panorama and Westpac Live. Now corporate super members as well as retail members with a Westpac account can see their banking and superannuation side by side and on the go” Mr Englund said.

The launch of BT Super complements BT’s contemporary super product offerings which are targeted at different customer needs and segments, ranging from a simple, My Super offer through to products to help members actively manage their portfolio and investments. This includes BT Super for Life, a simple, direct non-advised, offering including My Super, BT Super Invest, a direct non-advised offering for aspiring and experienced investors to design and manage their superannuation investments and BT SMSF, for hands-on investors who want to fully manage their own self-managed super

BT Super features include:

• Access to 44 investment options including lifestage funds, diversified funds, passive funds, sustainable and specialist funds;
• Access to QuickSuper, BT’s SuperStream-compliant portal making it easy for employers to make super contributions. Employers can pay all employees in one payment, regardless of the super fund;
• On demand help from a team of superannuation specialists to support employers with technical expertise around super;
• Access to BT’s new member portal that will enable members to digitally update their investment options, see their insurance details, update their beneficiaries and review their financial situation via WealthReview;

The launch of BT Super is an important milestone for BT as it will facilitate the simplification of BT’s Super business including to streamline our existing corporate and retail super products.

[1] Investment Trends, May 2018 Planner Technology Report. The 2018 Investment Trends Planner Technology Report found BT Panorama rated by advisers ahead of the industry across the majority of service categories measured, including mobile access/app (20 per cent higher), online functionality (12 per cent higher), range of investments offered (5 per cent higher) and ease of use (4 per cent higher). BT Panorama was recognised as Best Technology Offering at the 2017 Conexus Financial Superannuation Awards