BT Super ABN: An Overview
BT Superannuation Fund (ABN 92 648 219 165) is a self-managed superannuation fund (SMSF) regulated by the Australian Taxation Office (ATO). The fund was established on October 11, 2007, and its name was changed to The Trustee for BT Superannuation Fund on February 18, 2009.
Trustee and Issuer
BT Funds Management Limited (BTFM) is the trustee and issuer of BT Super ABN. BTFM is a subsidiary of Westpac Banking Corporation and has been operating since 1992.
Insurance Cover
Insurance cover in BT Super ABN is provided through TAL Life Insurance Services Limited (TLISL). TLISL is part of the TAL Dai-ichi Life Australia Pty Limited group of companies and has been providing insurance products since 1935.
Investment Options
BT Super ABN offers a range of investment options, including shares, ETFs, managed funds, and cash. Members can choose to invest in a single option or create a diversified portfolio.
Government Restrictions
The Australian government has placed restrictions on accessing preserved benefits in superannuation. These restrictions are designed to encourage people to save for their retirement and prevent them from accessing their superannuation savings prematurely.
Choice of Superannuation Fund
Individuals have the right to choose their superannuation fund. However, there may be limited circumstances where an employer is not required to accept a Choice of Superannuation fund form. For example, if an individual has already exercised Super Choice in the last 12 months.
Conclusion
BT Super ABN is a self-managed superannuation fund that offers a range of investment options and insurance cover. The fund is regulated by the ATO and is a long-term investment option. However, it is important to be aware of the government restrictions on accessing preserved benefits in superannuation and the limited circumstances where an employer may not be required to accept a Choice of Superannuation fund form.
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FAQs
What is BT Super ABN?
BT Super ABN (92 648 219 165) is a self-managed superannuation fund (SMSF) regulated by the Australian Taxation Office (ATO).
Who is the trustee and issuer of BT Super ABN?
BT Funds Management Limited (BTFM) is the trustee and issuer of BT Super ABN.
What investment options are available in BT Super ABN?
BT Super ABN offers a range of investment options, including shares, ETFs, managed funds, and cash.
Is insurance cover available with BT Super ABN?
Yes, insurance cover is available through TAL Life Insurance Services Limited (TLISL).
Are there any government restrictions on accessing preserved benefits in BT Super ABN?
Yes, the Australian government has placed restrictions on accessing preserved benefits in superannuation. These restrictions are designed to encourage people to save for their retirement and prevent them from accessing their superannuation savings prematurely.
Can I choose BT Super ABN as my superannuation fund?
Yes, you have the right to choose your superannuation fund. However, there may be limited circumstances where your employer is not required to accept your Choice of Superannuation fund form.
What are the benefits of investing in BT Super ABN?
BT Super ABN offers a range of benefits, including:
* Choice of investment options
* Insurance cover
* Long-term investment option
* Government tax concessions
What are the risks of investing in BT Super ABN?
As with any investment, there are risks involved in investing in BT Super ABN. These risks include:
* Investment risk: The value of your investment can go down as well as up.
* Insurance risk: Insurance cover is subject to the terms and conditions of the insurance policy.
* Government policy risk: The government may change the rules and regulations governing superannuation, which could impact your investment.