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As part of the ‘Protecting Your Superannuation’ legislation, super funds are required to close inactive super accounts with a balance of less than $6,000 and transfer the monies to the Australian Taxation Office (ATO). The ATO will attempt to proactively transfer these monies to an ‘active’ super account, if the member has one.
BT Financial Group today announced a fee cut for MySuper and Choice members almost halving their dollar-based administration fee from $108 pa to $56 pa.
There are good reasons to choose BT for your super solution, and give your retirement nest egg the benefit of our experience, our expertise and our flexible range of superannuation options.