Please discuss your enquiries relating to KiwiSaver transfers (under the Trans-Tasman retirement savings portability scheme) with the trustee of your superannuation fund. Monday – Friday, SMSF Establishment Service Terms & Conditions, BT Cash Management Account, BT Cash Management Account Saver and related Payments Services Terms and Conditions, BT Cash Management Account Fees and Interest Rates, SMSF Administration Service Terms and Conditions, BT Cash Management Account Saver Fees and Interest Rates, BT Panorama Financial Services Guide (FSG). With BT SMSF, you have the freedom and support to take control of your super in the way you want. Payments under the Financial Claims Scheme are subject to a limit for each depositor for eligible deposits held in Westpac. Figure 16 below shows the range of … Source: Self-managed super funds: a statistical overview 2017–18, Australian Taxation Office. The AET self-managed super fund (AET SMSF) gives you the flexibility to take control of your super investments but provides you with establishment, administration and compliance support. Investing can help you lay the foundations for your best possible financial future by growing wealth and building financial security. How much does a self managed super fund (SMSF) cost? There are two SMSF trustee structures. Westpac Financial Services Ltd ABN 20 000 241 127 AFSL 233716 (WFSL) is the responsible entity and issuer of interests in BT Managed Portfolios. APRA-regulated funds. BTPS operates BT Panorama Investments (the investor directed portfolio service operated by BTPS). The Guide and Terms and Conditions for these services are available by visiting www.bt.com.au/smsf or calling 1300 554 267. Whether you have an existing fund or would like to establish a new one, the AET SMSF can help you with the four key elements of operating an SMSF: SMSF funds are not issued a USI number, instead they use their ABN number as an identifier. Average member had $58,000 in balance, according to APRA statistics. In addition, BTPS is the provider of the Panorama SMSF Establishment Service and the Panorama SMSF Administration Service. BTPS, BTFM and WFSL are subsidiaries of Westpac Banking Corporation ABN 33 007 457 141 (Westpac). 2. How can I access my superannuation early? Once you have transitioned to SuperStream rollovers, we’ll also send certain release authorities to you via SuperStream. The following form allows you to search all of BT. Who can be an SMSF trustee and what are their responsibilities? Make sure you have a separate copy of certified ID for each form … The Guide and Terms and Conditions for these services are available by visiting www.bt.com.au/smsf or calling 1300 554 267. Apart from any interest investors may have in … However, the 1,044,000 individual members of SMSFs account for only 7% of the total number of Australians in super, showing that SMSFs are clearly the preferred way for those with higher super balances to manage their retirement incomes. BT Super for Life is an online super product from BT Financial Group, a company that is owned by Westpac and has a 45-year history helping Australians manage their wealth. Estimates suggest a minimum balance of $200,000 – $500,000 is required to make an SMSF cost effective relative to other super funds. The ABN number of BT Superannuation Savings Fund is 83 835 373 437. Not even the industry regulator APRA keeps a list of super funds that accept KiwiSaver transfers. Open/Close Menu Policy and regulation. Simply complete the details of your existing super fund/s. Sunsuper for life Investment guide ... A self-managed super fund is also referred to as SMSF or DIY super fund. * BT Panorama won ‘Best Technology Offering’ at the Conexus Financial Superannuation Awards, 2017, 2018 and 2019. Part of the Westpac Group, BT Financial Group manages and administers Westpac and BT's range of superannuation and retirement investments. The recent passage through Parliament of Treasury Laws Amendment (Protecting Your Superannuation Package) Act 2019 (the PYSP) will require all RSE licensees to implement a number of reforms to address account erosion due to excessive fees or unnecessary insurance. BT Financial Group's superannuation trustees are licensed by the Australian Prudential Regulation Authority (APRA) under the Superannuation Industry (Supervision) Act 1993, as amended by the Superannuation Safety Amendment Act 2004 and allocated a unique RSE … APRA-regulated super funds will be unable to process your rollover request an SMSF to SMSF rollover will contravene the trustees' regulatory obligations. The following form allows you to search all of BT. Part of the Westpac Group, BT Financial Group manages and administers Westpac and BT's range of superannuation and retirement investments. fee impact varies significantly based on account balance size. Discover the benefits of insurance in letting you plan for the best, and helping you take care of yourself and those you love when you need it the most. BT has claimed the video as "an Australian first" and said members would receive a two-and-a-half-minute personalised video, addressing the member by name and telling them what their balance is. Explore insights and strategies to help you make the most of your self managed super fund. Manage your SMSF’s cash and invest in term deposits, all in one place. Awards and ratings are current at the time of publication but are subject to change. Ideas and tips to help you to prepare for your best financial future. Everything you need to get started - we’ll set up your SMSF, its investment platform and an integrated bank account . Super funds regulated by APRA are typically large funds with thousands of members – such as a large industry, retail or corporate fund. Investing can help you lay the foundations for your best possible financial future by growing wealth and building financial security. It is subject to investment risk, including possible delays in repayment of withdrawal proceeds and loss of income and principal invested. Open up your investment opportunities with access to thousands of investments on one platform. So SMSFs win the first battle on points but when you dig down through the data, there are some interesting sub-plots which provide a better insight into this SMSFs vs super funds debate. "BT Funds Management Limited...the Trustee of … A Product Disclosure Statement (PDS) or other disclosure documents for the Panorama products can be obtained by contacting BT on, Conditions, fees and charges apply for BT CMA, BT CMA Saver and Westpac term deposits issued by Westpac. The group has had approval for its BT Super for Life, BT Lifetime Super – Employer Plan, BT Business Super and Asgard Employee Super Account products. Step 4: I’m ready to start. Where a company is appointed as the trustee, with the SMSF’s members being the directors of that company. Westpac … An Investor Guide is available for BT Panorama Investments and a PDS is available for BT Cash and BT Managed Portfolios (the Panorama products). An SMSF is a super fund you can set up to manage yourself (or pay others to help you do so) to provide for your retirement. Open/Close Menu APRA's functions. Past performance is not a reliable indicator of future performance. Step 1 - Early contact with APRA; Step 2 - Lodging an application; Step 3 - Assessment; Step 4 - Post licensing; APRA's licensing process - frequently asked questions; Open/Close Menu Industry supervision The Stronger Super review was conducted between 2007 & 2013 and focused on the operation of Australia's superannuation scheme, it's structure and it's efficiency. BTPS operates BT Panorama Investments (the investor directed portfolio service operated by BTPS). APRA’s advice is to contact you super fund and ask. Understanding the differences can help you make a more informed choice. Employers can utilise this service to determine whether employer contributions qualify as superannuation guarantee payments. The information on this website has been prepared by BT Portfolio Services Ltd ABN 73 095 055 208 AFSL 233715 (BTPS) and is current as at August 2019. Australian Prudential Regulation Authority (APRA) is largely responsible for managing SPIN numbers. Westpac and its related entities do not guarantee an investment in or acquired through Panorama Investments. Any taxation position described is a general statement and should only be used as a guide. Super Fund Lookup is the ATO's external register of Self-Managed Super Funds' (SMSF) current compliance statuses. Prepare for your best financial future – discover how our superannuation accounts can help you save for retirement. Our notice explains how we use cookies and how you can manage them. MySuper funds are not a type of super fund but one of the options they offer, mostly as a default account for people who don’t choose their own super fund when they start a new job. According to APRA, in June 2017 the average ongoing annual fees for public superannuation funds were 0.8% of member fund balances. These disclosure documents can be obtained from BTPS by visiting www.bt.com.au/smsf or calling 1300 554 267. Prudential policy; Regulation impact statements; Open/Close Menu APRA's licensing process. In addition, BTPS is the provider of the Panorama SMSF Establishment Service and the Panorama SMSF Administration Service. Your individual situation may differ and you should seek independent professional tax advice. Download the free BT SMSF App now. APRA deputy chair Helen Rowell says the regulator agrees with the industry view that funds under $30 billion in assets should merge. After completing the form, attach a copy of certified ID. An end-to-end service to help you every step of the way . Also, is BT Super part of Westpac? BTPS, BTFM and WFSL are subsidiaries of Westpac Banking Corporation ABN 33 007 457 141 (Westpac). Where members are appointed as trustee in their individual capacity. The returns you can expect from your SMSF are determined by your balance. An SMSF works the same as any regular larger superannuation fund, but there are some differences in how they are regulated by the government and how they are administered. MySuper funds. BT Super for Life. Employers can utilise this service to determine whether employer contributions qualify as superannuation guarantee payments. Choosing the right super fund should be made with a long-term view, after all, if you start work at 18, you’ll be contributing to your super for over 40 years. Westpac may change these or introduce new ones in the future. BT Super is the new superannuation product that Westpac transitioned to in late 2019 and early 2020. The prudential regulator is concerned superannuation life insurance premiums are about to skyrocket, warning the supply of coverage through super … Westpac and BT are pleased to give you access to a super fund that lets you manage your super as quickly and easily as your online banking. Any taxation position described is based on current tax laws and should only be used as a guide. Rowell said APRA was aware of about 12 super fund mergers currently underway. To receive media releases, publications, speeches and other industry-related information by email BT Financial Group's superannuation trustees are licensed by the Australian Prudential Regulation Authority (APRA) under the Superannuation Industry (Supervision) Act 1993, as amended by the Superannuation Safety Amendment Act 2004 and allocated … APRA demands action on super life insurance. You should also consider obtaining personalised advice from a professional financial adviser before making any financial decisions in relation to the matters discussed hereto. BT Funds Management Limited ABN 63 002 916 458 AFSL 233724 (BTFM) is the responsible entity and issuer of interests in BT Cash and Westpac Financial Services Ltd ABN 20 000 241 127 AFSL 233716 is the responsible entity and issuer of interests in BT Managed Portfolios. A self-managed super fund (SMSF) is a private superannuation fund that you manage yourself.
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