BT gets APRA MySuper approval
The Australian Prudential Regulation Authority (APRA) has granted BT Financial Group approval for its MySuper licences, paving the way for the launch of new actively-managed funds.
As its MySuper solution, BTFG will launch a life-stage fund which automatically recalibrates asset allocation when a client nears retirement age.
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.
BTFG general manager, superannuation, Deanne Stewart said BT was well-placed under the MySuper regime.
“BT has long believed that an important part of the success of the superannuation system is the best possible investment outcomes for members. We believe this will be achieved through having life-stage funds which are actively managed during a person’s life,” Ms Stewart said in a BTFG statement.
“Five years ago we launched BT Super for Life, a low-cost superannuation account for all Australians.
This fund has been one of the strongest performers in the most recent financial year.
“Through BT Super for Life we have a proven track record in actively managing lifestage funds for members. This investment philosophy has now been applied across the superannuation range for the benefit of all default members.”
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