Is BT a good super fund?

From time to time, you may ask yourself whether BT is a good super fund. Are you getting the performance results you expect, the service you need, can you engage with your super account easily, and is managing your super an easy and straightforward process? 

Here are a few reminders why you, and your super are in good hands with BT.

This article is in relation to BT Super, which is a part of the superannuation fund, Retirement Wrap ABN 39 827 542 991.

Our philosophy

BT has been helping members build and protect their wealth since 1969, and we put our members at the centre of everything we do. 

Super is more than helping you reach your retirement aspirations; it’s about preparing you and your loved ones for your best future, and for the lifestyle and financial security you deserve. 

We’re committed to constantly seeking ways to help you prepare for your best financial future. This philosophy underpins all aspects of our superannuation offering, including the investment options we make available, the approach we take to insurance and claims, the way we interact with our members and the support we offer across all aspects of wellbeing.

1. Strong performance returns

BT’s 450,000 MySuper members have seen strong returns for most members in the twelve months to 30 June 2021, with returns as high as 25.6%*.

Here are some key performance highlights:

Here are some key performance highlights:

1st Quartile (top 25%) performance1^

BT’s 1950s–2000s MySuper Lifestage funds, 12 months to 30 June 20211. The 1940s fund is 2nd quartile (top 50%) for the same period1^.

Between 25.1% and 25.6% returns2^

BT MySuper Lifestage funds for members born in the 1970s, 1980s, 1990s and 2000s, 12 months to 30 June 20212^.

5th highest performing MySuper fund in Australia over 12 months, and 9th ranked over 3 years3^

BT’s 1980s Lifestage fund3^.

2. Award-winning

Our industry awards and accolades are testament to our focus on placing our members at the centre of everything we do. Here are a few of the acknowledgements we’ve recently received.

  • Best Commercial Product – Personal, Super Review Super Fund of the Year Awards, 2019, 2020, 2021 – BT Super – Panorama (2020, 2021) BT Super for Life (2019) 4^.
  • 2021 Quality Star rating (5 star – top tier) – BT Super (Business), BT Super for Life 2021, Heron^.
  • 2021 Top 10 Insurance features – BT Super, BT Super for Life, 2021, Heron^.
  • Infinity Award for ESG sustainable investing, BT, 2020, 2021 – SuperRatings^.
  • AAA+ Quality Rating, BT Super, BT Super for Life, BT Super for Life Retirement, 2021, Rainmaker^.

3. Flexible investment options for all types of members

You can tailor, customise, and personalise your super experience, with support along the way.

Taking the hassle out of super

Lifestage investing is our MySuper investment option, meaning if you’re in this option, BT manages the investment strategy on your behalf. Lifestage investing means we apply an age-appropriate investment risk strategy based on whether you’re still in your working years, nearing retirement, or are in retirement.

Range of investment options

Of course, you can change your investment option(s) to suit your experience, knowledge, and needs. When you sign into your super, you can easily choose from an investment menu of managed funds spanning multiple asset classes, managers, costs, and investment philosophies.

Investing sustainably

We offer many sustainable investment options because for many members, consideration of environmental, community, and social and corporate governance factors in their investments is important, and can help drive aligned outcomes.

4. Empowering you to make the most of your super

BT provides the programs, tools and information to help you with your super, finances and your life, including:

Member services

BT Super members benefit from our free webinar program, and allows our members to manage and track super online, anywhere with BT Panorama, our award-winning# platform.

Monthly communications and member education

Each month, if you've opted in to receive electronic communications from us, you will receive updates that include multiple educational articles and videos, regulatory and industry updates, and super news.

Member support

Members are empowered with How-to video tutorials to help navigate your account; you can find and combine your super with SuperCheck; and you can use a host of tools and calculators 24/7.

Member feedback

We conduct regular “in the moment” surveys with our members and analyse their feedback to validate what we are sending you each month. This is an always-on program, ensuring we know what is important to you, as a member, on a continuing basis.

5. Life insurance to protect what's important

It’s important that you and your loved ones can be looked after in times of crisis like an accident, illness, or death. With BT Super, we have partnered with AIA Australia Limited (AIA) as our group life insurer. 

AIA is an award-winning global insurer with over 47 years’ experience in Australia. Their claims philosophy is simple – helping members when they need it most.

The premiums for life insurance can come directly out of your super account, meaning you pay for your insurance with reduced-tax dollars, rather than out of your pocket.

Members can access:

  • Different types of insurance cover
  • Automatic insurance for eligible employees with no medical checks required to receive a certain level of cover^^
  • Group premium rates.

And you can apply to change you insurance cover to suit your circumstances.
 

6. Wellbeing and benefits

Super is only one piece of the financial picture, so we offer a range of resources to support you in your wellbeing.

My Wellbeing portal

This has articles, recipes and videos, as well as a health assessment and wellbeing challenges, newsletters with articles on physical, mental and financial wellbeing, as well as wellbeing workshops and seminars.

Your can save today with Benefits Now

You have access to our Benefits Now program, which offers a range of specially selected discounts and deals to help you save money on everyday things like movie tickets, shopping, travel, and fitness. 

Retirement Hub 

Your can access a range of tools and calculators to help plan for your retirement including:

8. Community benefits

BT is a part of the wider Westpac Group, and this means we have deep roots in the community.

As one of Australia’s largest companies we have a strong role to play in helping to create positive social, economic, and environmental impact, for the benefit of all.

Our Sustainability Strategy means we continuously challenge ourselves on ways to create the most meaningful economic, social and environmental impact in the areas that matter most to our members and employer partners.

We strive to help people make better financial decisions, to be there when it matters most to them, and help people create a prosperous nation, for example we helped facilitate approximately 210,000 requests for members to access their super early during the initial impact of the COVID-19 pandemic.  

You might also be interested in

If you don’t know where to start your journey to better health, My Wellbeing can help.
Our Lifestage super investing adapts as you move through stages of your life, with higher returns when you’re younger and reduced risk closer to retirement.
Learn about the BT history, our brands and what we stand for. We also provide media resources and all the info you need to kick off your career with us.
Doing the right thing is at the heart of everything we do, with commitment to focus on issues that matter for our customers, people and the broader community.

* 12 month returns to 30 June 2021 for the 1980s BT Lifestage investment option.

^ Awards are opinions only, are not recommendations and are only one factor to be taken into account when deciding to acquire, dispose or hold a financial product. Awards and ratings are current at the time of publication but are subject to change.

# Investment Trends Platforms Competitive Analysis and Benchmarking Report, December 2020. See our media release dated 23 February 2021.

1 Super Ratings Fund Crediting Returns Survey (FCRS) using ‘all fund’ universes, June 2021.

2 APRA standard returns for BT’s MySuper Lifestage funds 12 months to June 30, 2021.

3 Rainmaker – Selecting Super Workplace Super Performance tables 30 June 2021.

4 2021 FE Money Management. All rights reserved. The information, data, analysis, and opinions contained herein (1) include the proprietary information of FE Money Management (2) may not be copied or redistributed (3) do not constitute investment advice offered by FE Money Management (4) are provided solely for informational purposes and therefore are not an offer to buy or sell a security (5) are not warranted to be correct, complete, or accurate. FE Money Management shall not be responsible for any trading decisions, damages, or other losses resulting from, or related to, this information, data, analyses, or opinions or their use. FE Money Management does not guarantee that a fund/product will perform in line with its Super Fund of the Year award as it reflects past performance only. Likewise, the Super Fund of the Year award should not be any sort of guarantee or assessment of the creditworthiness of a product/fund or of its underlying securities and should not be used as the sole basis for making any investment decision.

^^ Subject to the member meeting the eligibility conditions outlined in the PDS and ‘Insurance Guide’. This includes a maximum amount of insurance cover than can be offered to your Employer group, called an Automatic Acceptance Limit (AAL), age eligibility and other conditions.

 

This information last updated August 2021.

The information is prepared by BT Funds Management Limited ABN 63 002 916 458 (BTFM) the trustee of:  BT Super for Life, BT Super for Life Westpac Group Plan and BT Super part of the superannuation fund Retirement Wrap ABN 39 827 542 991; and Asgard Employee Super Account part of the superannuation fund the Asgard Independence Plan Division Two ABN 90 194 410 365.

BTFM is a member of the Westpac Banking Corporation ABN 33 007 457 141 (Westpac) group of companies. An investment in a BTFM product is not an investment in, deposit with or any other liability of Westpac, any division of Westpac or any other company in the Westpac Group. Past performance is not a reliable indicator of future performance. Westpac and its related entities do not stand behind or otherwise guarantee the capital value or investment performance of the product or any related assets of the product.

This information has been prepared as general advice only and does not take into account your personal objectives, financial situation or needs and so you should consider its appropriateness, having regard to your personal objectives, financial situation and needs before acting on it. Read the Product Disclosure Statement (PDS) to see if these products are right for you by visiting bt.com.au or asgard.com.au. Any tax considerations are general statements based on current tax law. You should obtain your own tax advice about your personal circumstances.