|Type of fee||Amount||How and when paid|
|Investment fee||0.50% pa of your account balance||Deducted from the assets of the Lifestage investment option and reflected in the daily unit price.|
|Administration fee||0.12% pa of your account balance (Lifestage: 0.45% pa
of your account balance
Rebate equal to 0.33% pa of your account balance)
|0.45% pa of your account balance is deducted from the Lifestage investment option and reflected in the daily unit price. A rebate equal to 0.33% pa of your account balance is deposited into your account every month1.|
|Buy – sell spread||Estimated at 0.36% for Lifestage investment option.||The cost will be reflected in the buy price of the investment option.|
|Advice fees relating to all members investing in a particular MySuper product or investment option||Nil|
|Other fees and costs2||Advice fee, if you agree a fee with your Financial Adviser
Insurance costs, if you have insurance cover in BT Super for Life.
|This amount may vary and is deducted from your account balance on the date the fee or cost is incurred.|
|Indirect cost ratio||Includes the Regulatory Change
Expense Recovery of up to
0.05% pa (estimated) of the investment option’s asset value.
Estimated performance-related fee3 of 0.03% to 0.04% pa of the investment option’s asset value.
Estimated other indirect costs3 of 0.13% to 0.14% pa of the investment option's asset value.
Estimated total indirect cost ratio: 0.21% to 0.23% pa of the investment option’s asset value.
|Regulatory Change Expense
Recovery amounts are
deducted from the assets of the Lifestage Investment Option and reflected in the daily unit price.
Performance-related fees are deducted from the assets of the Lifestage Investment Option and reflected in the daily unit price when investment performance targets are met.
Other indirect costs are incurred in managing the underlying investment assets of the Lifestage Investment Option and are reflected in the daily unit price.
1. Where you are still a member at the end of the month.
2. Additional fees and costs may apply. Please refer to the Product Disclosure Statement and Additional Information Booklets of your BT Super for Life account (available via your Internet Banking) for more information.
3. The performance-related fees and other indirect costs are estimated amounts in relation to the 12 months to 30 June 2017. The performance-related fees shown are not a representation of likely future performance.
BT Super for Life – 1960s Lifestage Investment Option
|BALANCE OF $50,000|
|Investment fees||0.50% pa||For every $50,000 you have in the MySuper Lifestage Investment Option you will be charged $250 each year.|
|PLUS Administration fees||0.12% pa (0.45% pa
Rebate of 0.33% pa1)
|And, for every $50,000 you have in the MySuper Lifestage Investment Option you will be charged $225 in administration fees Less a rebate of $165 for a total of $60.|
Indirect costs for the MySuper Lifestage fund
|0.21% pa2||And, indirect costs of $105 each year will be deducted from your investment.|
|EQUALS Costs of product||If your balance was $50,000, then for that year you will be charged fees of $415 for the MySuper Lifestage Investment Option.|
1. The example above assumes you are a member of BT Super for Life – Westpac Group Plan throughout the year for the purpose of calculating the rebate.
2. The Indirect costs above comprises of an estimated Regulatory Change Expense Recovery of 0.05% pa, estimated Performance-related fees of 0.03% pa and estimated other indirect costs of 0.13%. Please see ‘Performance-related fees’ in the Additional Information Booklet No.1 for more information.
Note: Additional fees may apply. Please refer to the ‘Additional explanation of fees and costs’ section of the Additional Information Booklet No.1. This example is illustrative only. What it costs you will depend on the investment option you choose.
BT Funds Management Limited ABN 63 002 916 458, AFSL No. 233724, RSE No. L0001090 is the trustee and issuer of interests in BT Super for Life which is a part of Retirement Wrap ABN 39 827 542 991, RSE R1001327.
A Product Disclosure Statement (PDS) is available by logging in to your online banking. You should obtain and consider the relevant PDS before deciding whether to acquire, continue to hold or dispose of interests in the relevant product.
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. Further information about the insurance available through BT Super for Life is included in the PDS.
The relevant Financial Services Guide (FSG) can be obtained by contacting your adviser or from the PDS downloads page.
The above information provides an overview or summary only and it should not be considered a comprehensive statement on any matter or relied upon as such. The information does not take 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.
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. There may be limited circumstances where your employer is not required to accept your Choice of Superannuation fund form e.g. if you have already exercised Super Choice in the last 12 months.