BT Super for Life has launched a new online superannuation search, which allows new BT Super for Life customers to find their old superannuation accounts and combine them as part of their application – with only a couple of clicks.
BT General Manager of Superannuation, Deanne Stewart, said Australians have an average of 2.4 superannuation accounts each and $17 billion in lost super.
“Australians with more than one superannuation account may be paying fees they don’t need to pay. Many Australians have five or six accounts each and over the course of their working life they can pay tens of thousands in unnecessary fees.
“What our new online application does is makes it easy for Australians to find superannuation they may have lost. Many Australians are put off sorting out their super because of complicated paperwork or they just don’t know where it is. We have not only made it easy, it only takes a minute or so to complete.
“BT Super for Life has a history of striving to make superannuation simple. We were the first to integrate superannuation into online banking so that customers can see their superannuation balance alongside their other savings and accounts. Now we’ve added to this by making finding and combining super much easier.”
The BT super search
- When someone opens a new BT Super for Life account, they can choose to provide their consent for a lost super search to take place.
- BT requests a lost super search from the ATO and identifies accounts belonging to the new customer.
- BT does the paperwork and sends it to the customer for them to sign and return.