What is MySuper?

Prepare for the best with MySuper that changes as you move through different stages in your life.

What is MySuper?

MySuper is part of the Stronger Super reforms, an Australian Government initiative designed to make Australia's superannuation system simpler and more efficient. It offers members who haven't made an investment choice, a simple super solution and a way to compare funds.

What is MySuper's lifestage approach?

Just as you adjust how you manage your money at different times in your life – starting your first job, getting married, buying a home, having children, changing jobs – MySuper changes with your different stages in life too.

No matter where you’re at, from the start of your career through to retirement, we adjust the type of investments to suit someone your age.

This means, while we’re looking after your super, you can get on with whatever else is happening in your life.

How does it work?

If you don’t make an investment choice for your super or you choose the BT MySuper Lifestage investment option, your super is invested based on the decade you were born and the investment mix automatically adjusts as you get older.

Sarah – in her 30s

Sarah was born in 1986. Based on her age, she'll be invested into BT's MySuper 1980s Lifestage fund.

  • This is designed for younger members who are a long way off retirement.

  • The investment mix for this age group is more growth oriented to target a higher return over the long term.

John – in his 50s

John was born in 1966. Based on his age, he'll be invested into BT's MySuper 1960s Lifestage fund.

  • This is designed for members whose retirement is still about 15 years away.

  • The investment mix for this age group is balanced between growth and conservative assets, which can smooth out returns as you get closer to retirement.

Rose – in her 70s

Rose was born in 1946. Based on her age, she'll be invested into BT's MySuper 1940s Lifestage fund.

  • This is designed for members who have finished or are about to finish work.

  • The investment mix for this age group is mostly conservative, designed to minimise the risk to retirement savings and generate income for your lifestyle once you transition into retirement and draw down on your super.

Prepare for the unexpected

The BT MySuper Lifestage investment option can also help you prepare for the unexpected and caters to your needs throughout your life. When you have your super in this investment option you will receive pre-approved Death and Total and Permanent Disablement (TPD)1 insurance that:

  • can provide up to $300,000 of cover without the need for medical checks.

  • doesn't affect your take home pay because premiums are paid from your super.

  • is flexible and automatically adjusts according to your age.

  • is adaptable because you can increase the level of insurance cover as and when you need to2.

Next: What to look for when comparing MySuper funds

When comparing super funds, it’s often hard to know all the things you should consider. Performance and fees are two obvious metrics, but there are other considerations that may also be just as important.

To learn more about MySuper, contact us today

Superannuation is an investment designed specifically to help you save for retirement. Here are some super basics to get you started.

We look at why it is important to check your super savings on a regular basis to see how you are progressing towards achieving your goals and prepare for the best.
Learn how to estimate the amount of super you may need to support your preferred retirement lifestyle. It’s about finding the retirement number that’s right for you.

1 Subject to eligibility conditions: please refer to the on-market disclosure documents
2 Subject to underwriting

Information current as at 15/08/2016.

A PDS is available for the superannuation products with a MySuper investment option and can be obtained by calling 132 135 or visiting the disclosure documents page. You should obtain and consider the PDS or other disclosure document before deciding whether to acquire, continue to hold or dispose of the superannuation product.

This information is general information only, it does not constitute any recommendation or advice; it has been prepared without taking into account your personal objectives, financial situation or needs and so you should consider its appropriateness having regard to these factors before acting on it. Any taxation position described is a general statement and should only be used as a guide. It does not constitute tax advice and is based on current tax laws and our interpretation. Your individual situation may differ and you should seek independent professional tax advice. You should also consider obtaining personalised advice from a professional financial adviser before making any financial decisions in relation to the matters discussed hereto.