26 May 2022 - BT Super and Mercer Super entered into a Heads of Agreement to merge
This dedicated webpage will help you find out more about the intended merger of BT Super into Mercer Super in 2023.
The merger will create a $65 billion super fund with the scale and potential to deliver stronger performance, lower fees and broader member services for more than 850,000 Australians.
This merger only affects members with BT Super, BT Super for Life and BT Super for Life – Westpac Group Plan accounts, whose super will be transferred to Mercer Super Trust.
The BT Super Trustee engaged broadly across the industry and underwent a robust and competitive process to find the right future partner who shares our passion to help members have the best possible retirement.
Learn more about the steps that were taken to ensure the best financial outcomes for members in this Westpac Wire interview with the BT Super Trustee Chair, Gai McGrath.
In addition, members’ existing insurance arrangements will be retained, providing peace of mind that there is no disruption to their cover or costs.
The merger remains subject to certain conditions and regulatory approvals.
BT Super and Mercer Super are working together to plan the transition for members in the first half of 2023.
We will keep members updated on our progress throughout the year via regular communications, this dedicated webpage and member information sessions. We will send members all the final details of the transfer in early 2023.
Mercer Super is a part of Mercer, a global retirement and investment expert with more than A$500 billion in assets under management. They have local superannuation expertise, a track-record of delivering the best possible retirement outcomes for Australians for more than 40 years and are recognised as a leader in sustainable investing by the Responsible Investment Association of Australasia (RIAA).
* SuperRatings Fund Crediting Rate Survey – Default Options as at March 2022. Includes Mercer SmartPath My Super Born 1969-73 and younger cohorts (which comprise 76% of MST default members).
This information is current as at 26 May 2022. The information is prepared by BT Funds Management Limited ABN 63 002 916458, AFSL 233724, RSE No. L0001090 (BTFM) who is the issuer of BT Super, BT Super for Life and BT Super for Life – Westpac Group Plan, which are part of Retirement Wrap ABN 39 827 542 991. BTFM is a subsidiary of Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian Credit Licence 233714 (Westpac).
The information provided has been prepared without taking account of your personal objectives, financial situation or needs. Because of this you should, before acting on this information, consider its appropriateness, having regard to your objectives, financial situation and needs.
A Product Disclosure Statement (PDS) (including the Guides) is available for BT Super and can be obtained by calling 132 135 or visiting bt.com.au/btsuper. A Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for BT Super for Life can be obtained by visiting bt.com.au/superforlife or calling 132 135. A PDS or FSG for BT Super for Life – Westpac Group Plan can be obtained by calling 1300 776 417 or signing into your account online.
You should consider the PDS before deciding to acquire, continue to hold or dispose of interests in BT Super, BT Super for Life and/or BT Super for Life – Westpac Group Plan. AIA Australia Limited ABN 79 004 837 861, AFSL No. 230043 is the issuer of insurance cover offered through BT Super for Life and BT Super for Life - Westpac Group Plan.
An investment in BT Super, BT Super for Life and/or BT Super for Life - Westpac Group Plan is not an investment in, deposit with any other liability of Westpac Banking Corporation ABN 33 007 457 141 or any other company in the Westpac Group. It is subject to investment risk, including possible delays in repayment of withdrawal proceeds and loss of income and principal invested. Westpac and its related entities do not stand behind or otherwise guarantee the capital value or investment performance of BT Super, BT Super for Life and/or BT Super for Life - Westpac Group Plan.