Skip to main content Skip to accessibility page Skip to search input

One fund for life

Conveniently take your super with you from job to job, and through each stage of your life

BT Super for Life is made up of three easy-to-use sub-accounts; each specifically designed to cater to your needs in every life stage. The accounts work together so you’ll only ever need the one super fund - to take you from job to job, and into retirement.

 

BT Super Accounts

Open your BT Super for Life account as one of the following:

  • Savings Account: for when you're working and saving for retirement
  • Transition to Retirement Account: suitable if you're between 55 and 65, not yet retired, and you want to start withdrawing money from super
  • Retirement Account: You are now retired and ready to start withdrawing money from your super

BT Super for Life - Savings account

With a BT Super for Life - Savings account, accelerating your retirement savings is as easy as online banking.

  • One password to access your super and online banking together - anywhere, anytime
  • Top-up your super with a transfer from your bank account at the click of a button
  • Monitor your financial position at a glance with super and bank account balances on one screen
  • Manage your super with ease - check your balance, change your investment options, view your transaction history and fund performance

How does it work?

  • 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.
  • Plus, with low fees and no commissions, and the ability to choose an investment strategy that suits you, the BT Super for Life - Savings account makes your super savings work even harder.

This account may suit 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 to live on, you can easily transition your funds to the specially designed BT Super for Life - Retirement account or the 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 in the workforce. Under the new Transition to Retirement rules you can now access part of your super while still working, instead of only being able to access it when you retire.

This means you could:

  • Continue adding to your retirement savings with pre-tax dollars via salary sacrifice to your BT Super for Life - Savings account, while withdrawing from your existing super to supplement the reduced income. It can be a tax-effective way to boost your super without sacrificing your lifestyle.
  • Cut your working hours without sacrificing your lifestyle, by accessing super to supplement your income. 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.

How does it work?

  • The account is opened with an initial sum from your super savings, from which you can make withdrawals as you need.
  • Government super rules mean you must withdraw between 4% and 10% of your account each financial year. We can set this up automatically for you so it's one less detail you'll have to worry about.
  • With features like low fees and no commissions, and the ability to choose an investment strategy that suits you, the BT Super for Life - Retirement account makes your retirement savings work even harder.

This account may suit you if:

  • You are aged between 55 and 65 years,
  • 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 where the 10% maximum restriction disappears.

BT Super for Life - Retirement account

With a BT Super for Life - Retirement account, accessing your money in retirement is easy. With your super and online banking together in one place, you can make regular and one-off withdrawals from your super straight into your everyday banking account at the click of a button - all the while minimising tax on your investment earnings.

How does it work?

  • The account is opened with an initial sum from your super savings, from which you can make withdrawals as you need.
  • The regulations also set a minimum percentage that needs to be withdrawn each financial year. We can set this up automatically for you so it's one less detail you'll have to worry about.
  • With features like low fees and no commissions, and the ability to choose an investment strategy that suits you, the BT Super for Life - Retirement account makes your retirement savings work even harder.

This account may suit you if:

  • You are 65 or over, or
  • 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, or
  • You are 55 or over, and do not intend to work more than 10 hours a week in the future, or
  • 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.

 


 

Other ways to open an account

You can also apply over the phone or in branch.

Visit a branch

Find your nearest branch by using our online locator.

Visit a branch

Find your nearest branch by using our online locator.

 


 

What you'll need

  • Your Tax File Number (TFN). We may already have your TFN on file. If not, finding your TFN is easy. You can find it on a recent payslip or you can call the ATO on 13 28 61.
  • Valid email address