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Account Types

Conveniently see and manage your super online with BT Super for Life

BT Super for Life is a superannuation fund with three different account types. Each type offers a range of specific features depending on your age, stage of life and what your financial objectives might be.

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What do you need?

The BT Solution

A super account if you are working and accumulating superannuation. Your employer can make super payments into your account and you can make personal contributions into your super account. See and manage your account online. Find out more

You have retired and want to start withdrawing money from your superannuation. You can make regular and one-off withdrawals from your super into your St.George Bank account. There is no tax on investment earnings in this account. Find out more

You are between 55 to 65 years old and have not yet retired, but would like to start making withdrawals from your super account directly into your St.George Bank account. Find out more

BT Super for Life - Savings account

Saving for your life after work has never been easier. A BT Super for Life – Savings account allows you and your employer to add to your super. This may include personal and spouse contributions, employer contributions, money from other super funds, or Government co-contributions. With a BT Super for Life – Savings account, you can top-up your super from your other St.George accounts, as easily as using Internet Banking. Plus, you'll be able to check your super balance every time you logon, and keep track of your transaction history and fund performance, all at the click of a button. And, because it's always there in front of you, you'll never lose track of your super.

This account may be for you if:

  • You or your employer are adding money to your super on an ongoing basis and you haven't retired
  • You have retired and you want to leave your money in a tax-effective super environment, and you do not want to withdraw regularly from your super

Later, when you want to start making withdrawals from your super as a source of income, you may want to consider a BT Super for Life – Retirement account or a BT Super for Life – Transition to Retirement account.

BT Super for Life - Transition to Retirement account

The BT Super for Life – Transition to Retirement account is designed specifically for people aged between 55 and 65 years who are still working. Under the 'Transition to Retirement' rules you can access your super while still working, instead of only being able to access your super when you retire. This is a tax-effective strategy and means you could:

  • Draw an income stream from your existing superannuation
  • Salary sacrifice your before tax income to boost your super without affecting your take home pay

Using a BT Super for Life – Transition to Retirement account, you can easily make one-off and regular withdrawals from your super directly into your St.George account. At the same time, you and your employer can continue to add to your super using a BT Super for Life – Savings account. This can allow you to salary sacrifice into super using pre-tax dollars while withdrawing from your existing super to supplement the reduced income. It can be a tax-effective way to boost your super without affecting your take home pay. Alternatively, you may want to use the rules to cut your working hours. Using the two accounts, you can continue to work part-time while accessing your existing super from a BT Super for Life – Transition to Retirement account to supplement your income. You open your BT Super for Life - Transition to Retirement account with a sum of money and then make withdrawals to live on. The regulations also set a minimum percentage that needs to be withdrawn each financial year. We can help you set this up automatically so it's one less detail you'll have to worry about.

This account may be for you if:

  • You are aged between 55 and 65 years, and
  • You have not retired (you may be semi retired)

When you stop working and retire, it's easy to change to a BT Super for Life – Retirement account which allows you to minimise tax on investment earnings and meet specific withdrawal limits set by the government.

BT Super for Life - Retirement account

When you retire, a BT Super for Life – Retirement account gives you easy access to your money. You can make regular and one-off withdrawals from your super into your St.George account, while minimising tax on investment earnings. You open your account with a sum of money and then make withdrawals to live on. The regulations also set minimum and maximum percentages that need to be withdrawn each financial year. We can help you set this up automatically so it's one less detail you'll have to worry about.

This account may be for you if:

  • You are 65 or over
  • You are 60 or over and have left an employment arrangement since turning 60. You may have already started working for another employer or plan to do so in the future
  • You are 55 or over, and do not intend to work more than 10 hours a week in the future
  • Regardless of age, your superannuation is unrestricted non-preserved

Depending on your situation, you may be able to hold two account types at the same time. For example if you start working again you could open a BT Super for Life – Savings account so that you or your employer can still add money to your super.

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