It's your money and for most people, super is one of the central pieces in preparing for their retirement. Getting to grips with it early will give you greater control and the confidence to make the best financial choices for you.
BT Funds Management Limited ABN 63 002 916 458, AFSL No. 233724, RSE No. L0001090 (BTFM) is the trustee and issuer of interests in BT Super for Life and Panorama Super, which are part of Retirement Wrap ABN 39 827 542 991, RSE R1001327. BT Portfolio Services Ltd ABN 73 095 055 208, AFSL No. 233715 (BTPS) administers Panorama Super. BT Super Invest is part of Panorama Super.
The Product Disclosure Statement (PDS) for BT Super for Life and Financial Services Guide (FSG) for BTFM can be obtained by calling 1300 653 553, or from the Product Disclosure Statement page. The PDS for BT Super Invest and the Panorama FSG can be obtained by calling 1300 881 716, or from the Product Disclosure Statement page. You should obtain and consider the relevant PDS and FSG before deciding whether to acquire, continue to hold or dispose of interests in the relevant product.
BTPS is the provider of the Panorama SMSF Establishment Service and the Panorama SMSF Administration Service. The Guide and Terms and Conditions for these services are available by contacting BTPS.
Superannuation is a long-term investment. Generally, contributions to a superannuation fund are preserved. The government has placed restrictions on when you can access your preserved benefits. In general, benefits will not be able to be paid until a member is age 65, or has permanently retired and is above his/ her preservation age (i.e. 55 years up to 60 years depending on when the member was born).
The Government has set caps on the amount of money you can add to superannuation each year on a concessionally taxed basis. Contributions that exceed your contributions caps may have additional tax applied to them. The contributions caps change from time to time. Up to date information is available on the ATO website at ato.gov.au.
Before requesting a 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.