$95
$1.1k

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Pros and Cons
Pros and Cons
- Online capabilities including trading and reporting, as well as preferred reporting features.
- Data feeds available to both financial planning and accounting software.
- Award winning customer service recognised by industry awards with regular adviser feedback conducted to ensure service is of a high standard.
Summary
BT SuperWrap Personal Super Plan was established in 1999 and has been designed to provide a wide range of investment options to members and their authorised advisor. BT SuperWrap offers a comprehensive range of more than 500 diversified and single sector managed funds, S&P/ASX 300 listed securities, term deposits and cash. The BT Wholesale Balanced Returns option underperformed the relevant SuperRatings Index over each time period assessed to 30 June 2020; however, the extensive investment menu means returns may vary depending on the option and manager selected.Fees are higher than the industry average across all account balances assessed. The percentage-based administration fee is capped at $1,500 for account balances over $1,000,000 and there are no switching fees, although a buy-sell spread may apply. A minimum balance of $2,500 must be held in a cash account. Any associated cash account interest charges have not been included in the calculated fees below.BT SuperWrap Personal Super Plan's insurance offering allows eligible members to apply for an unlimited amount of Death cover and up to $5 million of TPD cover. Members can also apply to increase cover following the occurrence of a prescribed Life Event without additional underwriting. Income Protection with a benefit period of 2 years, 5 Years or to age 65, covering up to 80% of salary, is available following 14-day through to 720-day waiting periods. The online account provides members with a consolidated view of all investments and full transparency of taxation entitlements within each account. Eligible members may also protect their investments from market downturns with Wrap Capital Protection, to ensure a minimum amount is received at the end of a specified term.
Features and Fees
BT Fees and Features
- Features
- Insurance Cover
- Fees
Features
Binding nominations | |
Account size discount | Online Access |
Home loans | Financial planning service |
Non-lapsing binding nominations | Employer size discount |
Anti-detriment payments | Credit cards |
Insurance Cover
Health insurance | Insurance life event increases |
Total and permanent disability cover | Long term income protection |
Fees
Admin fee $95 | Administration fee (%) 1.01% |
Switching fee $30.5 | Investment fee |
Indirect cost ratio (%) 0.91% | Exit fee $0 |
Pros and Cons
- Online capabilities including trading and reporting, as well as preferred reporting features.
- Data feeds available to both financial planning and accounting software.
- Award winning customer service recognised by industry awards with regular adviser feedback conducted to ensure service is of a high standard.
BT SuperWrap Personal Super Plan was established in 1999 and has been designed to provide a wide range of investment options to members and their authorised advisor. BT SuperWrap offers a comprehensive range of more than 500 diversified and single sector managed funds, S&P/ASX 300 listed securities, term deposits and cash. The BT Wholesale Balanced Returns option underperformed the relevant SuperRatings Index over each time period assessed to 30 June 2020; however, the extensive investment menu means returns may vary depending on the option and manager selected.Fees are higher than the industry average across all account balances assessed. The percentage-based administration fee is capped at $1,500 for account balances over $1,000,000 and there are no switching fees, although a buy-sell spread may apply. A minimum balance of $2,500 must be held in a cash account. Any associated cash account interest charges have not been included in the calculated fees below.BT SuperWrap Personal Super Plan's insurance offering allows eligible members to apply for an unlimited amount of Death cover and up to $5 million of TPD cover. Members can also apply to increase cover following the occurrence of a prescribed Life Event without additional underwriting. Income Protection with a benefit period of 2 years, 5 Years or to age 65, covering up to 80% of salary, is available following 14-day through to 720-day waiting periods. The online account provides members with a consolidated view of all investments and full transparency of taxation entitlements within each account. Eligible members may also protect their investments from market downturns with Wrap Capital Protection, to ensure a minimum amount is received at the end of a specified term.
Read More
BT Fees and Features
- Features
- Insurance Cover
- Fees
Features
Binding nominations | |
Account size discount | Online Access |
Home loans | Financial planning service |
Non-lapsing binding nominations | Employer size discount |
Anti-detriment payments | Credit cards |
Insurance Cover
Health insurance | Insurance life event increases |
Total and permanent disability cover | Long term income protection |
Fees
Admin fee $95 | Administration fee (%) 1.01% |
Switching fee $30.5 | Investment fee |
Indirect cost ratio (%) 0.91% | Exit fee $0 |
Fund fees vs. Industry average
Fund past-5-year return vs. Industry average
Investment allocation
Investment option performance
Product | Past 5-year return New | Admin fee $635 | Company ![]() | Calc fees on 50k $1.2k | Features Advisory services Death insurance Income protection Online access Term deposits Variety of options | SuperRatings awards ![]() | Go to site | More details |
Past 5-year return 5.39% | Admin fee $635 | Company ![]() | Calc fees on 50k $1.3k | Features Advisory services Death insurance Income protection Online access Term deposits Variety of options | SuperRatings awards ![]() | Go to site | More details | |
Past 5-year return New | Admin fee $275 | Company ![]() | Calc fees on 50k $845 | Features Advisory services Death insurance Income protection Online access Term deposits Variety of options | SuperRatings awards ![]() | Go to site | More details | |
Past 5-year return New | Admin fee $635 | Company ![]() | Calc fees on 50k $1.2k | Features Advisory services Death insurance Income protection Online access Term deposits Variety of options | SuperRatings awards ![]() | Go to site | More details | |
Product | Past 5-year return 4.28% | Admin fee $108 | Company ![]() | Calc fees on 50k $593 | Features Advisory services Death insurance Income protection Online access Term deposits Variety of options | SuperRatings awards ![]() ![]() | Go to site | More details |
Product | Past 5-year return New | Admin fee $108 | Company ![]() | Calc fees on 50k $563 | Features Advisory services Death insurance Income protection Online access Term deposits Variety of options | SuperRatings awards ![]() ![]() | Go to site | More details |
Product | Past 5-year return 4.28% | Admin fee $108 | Company ![]() | Calc fees on 50k $593 | Features Advisory services Death insurance Income protection Online access Term deposits Variety of options | SuperRatings awards ![]() ![]() | Go to site | More details |
Past 5-year return New | Admin fee $95 | Company ![]() | Calc fees on 50k $1.1k | Features Advisory services Death insurance Income protection Online access Term deposits Variety of options | SuperRatings awards ![]() | Go to site | More details |
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FAQs
How do you find lost superannuation funds?
Lost superannuation refers to savings in an account that you’ve forgotten about. This can happen if you’ve opened several different accounts over the years while moving from job to job.
You can use your MyGov account to see details of all your superannuation accounts, including any you might have forgotten. Alternatively, you can fill in a ‘Searching for lost super’ form and send it to the Australian Taxation Office, which will then search on your behalf.
Am I entitled to superannuation if I'm a contractor?
As a contractor, you’re entitled to superannuation if:
- The contract is mainly for your labour
- You’re over 18 and earn more than $450 before tax in a calendar month
- You’re under 18, you work more than 30 hours per week and you earn more than $450 before tax in a calendar month
Please note that you’re entitled to superannuation even if you have an Australian business number (ABN).
How is superannuation calculated?
Superannuation is calculated at the rate of 9.5 per cent of your gross salary and wages. So if you had a salary of $50,000, your superannuation would be 9.5 per cent of that, or $4,750. This would be paid on top of your salary.
The ‘superannuation guarantee’, as it is known, has been at 9.5 per cent since the 2014-15 financial year. It is scheduled to rise to 10.0 per cent in 2021-22, 10.5 per cent in 2022-23, 11.0 per cent in 2023-24, 11.5 per cent in 2024-25 and 12.0 per cent in 2025-26.
Can I choose a superannuation fund or does my employer choose one for me?
Most people can choose their own superannuation fund. However, you might not have this option if you are a member of certain defined benefit funds or covered by certain industrial agreements. If you don’t choose a superannuation fund, your employer will choose one for you.
Can I carry on a business in an SMSF?
SMSFs are allowed to carry on a business under two conditions.
First, this must be permitted under the trust deed.
Second, the sole purpose of the business must be to earn retirement benefits.
How do you pay superannuation?
Superannuation is paid by employers to employees. Employers are required to pay superannuation to all their staff if the staff are:
- Over 18 and earn more than $450 before tax in a calendar month
- Under 18, work more than 30 hours per week and earn more than $450 before tax in a calendar month
This applies even if the staff are casual employees, part-time employees, contractors (provided the contract is mainly for their labour) or temporary residents.
Currently, the superannuation rate is currently 9.5 per cent of an employee’s ordinary time earnings. This is scheduled to rise to 10.0 per cent in 2021-22, 10.5 per cent in 2022-23, 11.0 per cent in 2023-24, 11.5 per cent in 2024-25 and 12.0 per cent in 2025-26.
Employers must pay superannuation at least four times per year. The due dates are 28 January, 28 April, 28 July and 28 October.
What are reportable employer superannuation contributions?
Reportable employer superannuation contributions are special contributions that an employer makes on top of the regular compulsory contributions. One example would be contributions made as part of a salary sacrifice arrangement.
How much superannuation do I need?
According to the Association of Superannuation Funds of Australia (ASFA), here is how much you would be able to spend per week during retirement:
Lifestyle | Singles | Couples |
---|---|---|
Modest | $465 | $668 |
Comfortable | $837 | $1,150 |
Here is the superannuation balance you would need to fund that level of spending:
Lifestyle | Singles | Couples |
---|---|---|
Modest | $50,000 | $35,000 |
Comfortable | $545,000 | $640,000 |
These figures come from the March 2017 edition of the ASFA Retirement Standard.
The reason people on modest lifestyles need so much less money is because they qualify for a far bigger age pension.
Here is how ASFA defines retirement lifestyles:
Category | Comfortable | Modest | Age pension |
---|---|---|---|
Holidays | One annual holiday in Australia | One or two short breaks in Australia near where you live | Shorter breaks or day trips in your own city |
Eating out | Regularly eat out at restaurants. Good range and quality of food | Infrequently eat out at restaurants. Cheaper and less food | Only club special meals or inexpensive takeaway |
Car | Owning a reasonable car | Owning an older, less reliable car | No car – or, if you do, a struggle to afford the upkeep |
Alcohol | Bottled wine | Casked wine | Homebrew beer or no alcohol |
Clothing | Good clothes | Reasonable clothes | Basic clothes |
Hair | Regular haircuts at a good hairdresser | Regular haircuts at a basic salon | Less frequent haircuts or getting a friend to do it |
Leisure | A range of regular leisure activities | One paid leisure activity, infrequently | Free or low-cost leisure activities |
Electronics | A range of electronic equipment | Not much scope to run an air conditioner | Less heating in winter |
Maintenance | Replace kitchen and bathroom over 20 years | No budget for home improvements. Can do repairs, but can’t replace kitchen or bathroom | No budget to fix home problems like a leaky roof |
Insurance | Private health insurance | Private health insurance | No private health insurance |
What is lost superannuation?
Lost superannuation refers to savings in an account that you’ve forgotten about. This can happen if you’ve opened several different accounts over the years while moving from job to job.
How can I keep track of my superannuation?
Most funds will allow you to access your superannuation account online. Another option is to manage your superannuation through myGov, which is a government portal through which you can access a range of services, including Medicare, Centrelink, aged care and child support.
What contributions can SMSFs accept?
SMSFs can accept mandated employer contributions from an employer at any time (Funds need an electronic service address to receive the contributions).
However, SMSFs can’t accept contributions from members who don’t have tax file numbers.
Also, they generally can’t accept assets as contributions from members and they generally can’t accept non-mandated contributions for members who are 75 or older.
How does superannuation work?
Superannuation is paid by employers to employees, at least once every three months. The ‘superannuation guarantee’ is currently 9.5 per cent – which means that your employer must pay you superannuation equivalent to 9.5 per cent of your salary. The guarantee is scheduled to rise to 10.0 per cent in 2021-22, 10.5 per cent in 2022-23, 11.0 per cent in 2023-24, 11.5 per cent in 2024-25 and 12.0 per cent in 2025-26.
Superannuation is generally taxed at 15 per cent. However, if you earn less than $37,000, you will be automatically reimbursed up to $500 of the tax you paid. Also, if your income plus concessional superannuation contributions exceed $250,000, you will also be charged Division 293 tax. This is an extra 15 per cent tax on your concessional contributions or the amount above $250,000 – whichever is lesser.
You can withdraw your superannuation when you meet the ‘conditions of release’. The conditions of release say you can claim your super when you reach:
- Age 65
- Your ‘preservation age’ and retire
- Your preservation age and begin a ‘transition to retirement’ while still working
How do you get superannuation?
You’re automatically entitled to superannuation if:
- You’re over 18 and earn more than $450 before tax in a calendar month
- You’re under 18, you work more than 30 hours per week and you earn more than $450 before tax in a calendar month
What is salary sacrificing?
A salary sacrifice is where your employer takes part of your pre-tax salary and pays it directly into your superannuation account. Salary sacrifices come out of your pre-tax income, whereas personal contributions come out of your after-tax income.
How do I change my superannuation fund?
Changing superannuation funds is a common and straightforward process. You can do it through your MyGov account or by filling out a rollover form and sending it to your new fund. You’ll also have to provide proof of identity.
Is superannuation compulsory?
Superannuation is compulsory. Generally speaking, it can’t be touched until you’re at least 55 years old.
What happens if my employer falls behind on my superannuation payments?
The Australian Taxation Office will investigate if your employer falls behind on your superannuation payments or doesn’t pay at all. You can report your employer with this online tool.
What are the age pension's residence rules?
On the day you claim the age pension, you must be in Australia and you must have been an Australian resident for at least 10 years (with no break in your stay for at least five of those years). The following exceptions apply:
- You’re exempt from the 10-year rule if you’re a refugee or former refugee
- You’re exempt from the 10-year rule if you’re getting Partner Allowance, Widow Allowance or Widow B pension
- You can claim the age pension with only two years of residency if you’re a woman whose partner died while you were both Australian residents
- You might be able to claim the age pension if you’ve lived or worked in a country that has a social security agreement with Australia
How much is superannuation?
Superannuation is currently 9.5 per cent – which means that your employer must pay you superannuation equivalent to 9.5 per cent of your salary.
The ‘superannuation guarantee’, as it is known, has been at 9.5 per cent since the 2014-15 financial year. It is scheduled to rise to 10.0 per cent in 2021-22, 10.5 per cent in 2022-23, 11.0 per cent in 2023-24, 11.5 per cent in 2024-25 and 12.0 per cent in 2025-26.
How is superannuation regulated?
The Australian Prudential Regulation Authority (APRA) regulates ordinary superannuation accounts. Self-managed superannuation funds (SMSFs) are regulated by the Australian Taxation Office.