Personal (or member) contribution,
Spouse contribution, or
Employer contribution.
If you're making a voluntary contribution from your linked bank account, you can simply transfer funds into your Super for Life account (you will be asked to confirm the transfer, as you would not be able to transfer it back out unless eligible to rollout of your super fund).
Login to your online banking
Select EFT pay Anyone
Enter details:
a. Account Name: <SFL Account Name>
b. BSB: 262-410
c. A/C Number: <SFL Account Number>
d. EFT Description: insert the relevant option from the list
below:
i. MV: Member Voluntary (after tax)
ii. SG: Superannuation Guarantee
iii. SP: Spouse Contributions
iv. SS: Salary Sacrifice
v. EA: Employer Additional
IMPORTANT NOTE: Please ensure that the first 2 characters entered into the EFT description field matches one of the above contribution codes. If no EFT Description is entered, or if the first 2 characters of the EFT description does not match one of these contribution codes, the contribution will be categorised as a Superannuation Guarantee (SG) contribution and contributions tax will be applied.
For example, if your contribution is intended to be a Member Voluntary (MV) contribution, you must start each EFT description field provided in Internet Banking with MV.
Please note we are unable to split EFT contributions across multiple contribution types. If more than one contribution code is used in the EFT description, the entire contribution will be allocated to the contribution type that matches the code in the first 2 characters of the EFT description field (or categorised as SG if no valid code is entered in the first 2 characters). To prevent misallocation, please submit a separate EFT transaction for each contribution type you wish to make and enter the relevant contribution code in the first 2 characters of the EFT description field.
Biller Codes:
SG Contribution: 31864
Salary Sacrifice Contribution: 31880
Employer Additional Contribution: 31872
Personal Contribution: 31898
Spouse Contribution: 31906
Note: Legislative changes may place restrictions on contributions by employers. Visit the ATO website at ato.gov.au for more information on ways employers can make contributions and the data and payment standards.
Reference Number: SFL account number
If you're making a voluntary contribution from your linked bank account, you can simply transfer funds into your Super account (you will be asked to confirm the transfer, as you would not be able to transfer it back out unless eligible to rollout of your super fund).
Login to your online banking
Select EFT pay Anyone
Enter details:
a. Account Name: <BT Super Account Name>
b. BSB: 262-410
c. A/C Number: <BT Super Member Number>
d. EFT Description: insert the relevant option from the list
below:
i. MV: Member Voluntary (after tax)
Reference Number: BT Super member number
Biller Codes:
SG Contribution: 31864
Salary Sacrifice Contribution: 31880
Employer Additional Contribution: 31872
Personal Contribution: 31898
Spouse Contribution: 31906
Note: Legislative changes may place restrictions on contributions by employers. Visit the ATO website at ato.gov.au for more information on ways employers can make contributions and the data and payment standards.
BT Funds Management Limited ABN 63 002 916 458, AFSL No. 233724, is the trustee and issuer of interests in BT Super for Life which is a part of Retirement Wrap ABN 39 827 542 991.
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.
*There is no charge for accepting any rollovers, however before requesting the 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 other fund(s) to determine whether there are any 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. You may not be covered for injuries or illnesses that have arisen since you took out previous insurance, and you may lose loyalty benefits.
Rollovers Other super products: There may be a fee for accepting rollovers. Before requesting the rollover, you should also check with your other fund/s to see if there are any exit fees for moving your benefit, or other loss of benefits (e.g. insurance cover).
BT Super for Life: There is no charge for accepting any rollovers, but before requesting the 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 benefits (e.g. insurance cover).
Contributions: Superannuation is a long-term investment. The Government has placed restrictions on when you can access your preserved benefits. The Government has set caps on the amount of money you can add to superannuation each year on a concessionally taxed basis. In addition, the Government has set a non-concessional contributions cap. For more detail, speak with a financial adviser or visit the ATO website.
Superannuation is a long-term investment. The Government has placed restrictions on when you can access your preserved benefits. The Government has set caps on the amount of money you can add to superannuation each year on a concessionally taxed basis. In addition, the Government has set a non-concessional contributions cap. For more detail, speak with a financial adviser or visit the ATO website.