BT Super Questions & Answers
Why is BT Super performing so poorly if you ring to ask why they won’t tell you anything does anyone who works there have any idea what they are doing has to be the worst fund of all time
Tried to close my investment account on 17/07/2021. It took them till 17/09/2021. I needed the funds for a deposit. Made 2 complaints to them in August unanswered and escalated it 3 times due to urgency. They finally released the funds at 8pm on a Friday on settlement day. Money will not hit my bank account till 2 business days. I lost my deposit and will now pursue this with ACFA. Great fkn work I hope you crash and burn like AMP.
I would advise anyone who needs to rollover to another fund to do this via MyGov, 3 day turnaround period which is long enough but at least they're mandated to complete the transfer within that time.
I see so many complaints on this site about BT and BT's Panorama Platform. Is BT advising all of these dissatisfied customers that they can pursue their complaints with the Australian Financial Complaints Authority (AFCA) at no cost to the complainants. It seems very odd that all of these complaints seem to just be closed off by BT with no outcomes - Is that the case? Very strange as AFCA can order BT to make financial compensation and also needs to report systemic issues to ASIC.
BT does not want to talk to you and it's hard to get Info from them. After you complain they send you a standard email saying they will get back to you in 5days or if it is super 90days. They never get back to you . You then get a email saying that the matter has been rectified and complaint closed. Your only option is start again. It hard to contact AFCA as you do not have much info from BT. Last year I took them on and was compensated several thousand for their numerous errors but had to sign a confidential letter. I have also several good will payments which are really payments for errors.
Hello my name is Kenneth R Smith and I recently opened a superannuation fund with your firm so I could roll in my ATO LOST SUPER into your firm for quick and prompt release. I opened the account a month ago . The ATO appropriated the funds to your firm on May 21 . I was expecting payment 5 business days from then as I had many emails and letters saying that BT now have my funds and have been approved for release. Please explain why this process is taking so long . I'm about to be evicted from my dwelling I have financial obligations to meet and I'm on the verge of serious mental health issues due to the stress of being told so many different stories when it should of been 5 days . I'm now looking to a legal representative to possibly tell me what my options are . Fortunately I have the privelidge of having a very renowned QC who will endeavour to enquire about my situation. I'm sorry but when people are thinking about suicide due to financial hardship it becomes a very serious issue . Could you please assist me and contact me at your earliest convenience as I'm at breaking point and my family is suffering. Please reply asap. I appreciate your time and help in regards to this matter. I have a BT SUPER account and my mobile number is 0424 081847. My email is ....kennyk6777@gmail.com. Could you please endeavour to help me with my situation please .
Apologies for the delay Kenneth. I have tried calling you this PM. If you still require assistance, please call our team on 132 135. Kind regards BT
Can I withdraw my retirement wrap fund
Hi Mere, apologies for the delay in responding. To ensure we manageyour query correctly, please call 132 135 with your personal and account details and the correct process can be provided. Kind regards BT
Hi, am puting in a claim for SCI, on going through the claim forms have found them to be very excessive for a claim. My treating doctor and surgeons reports should all that should be required for claim, I am a contractor and they require claim forms from my employer?. They want me to fill out my own accessment forms?????. I am a contractor I am the boss. BT super are quick to take my money for said SCI insurance. I am covered for $5240.00 per month as stated on policy but not the case, they want 3 years of tax accessments? WHY. They only pay 75% of income not the $5240.00 I have been paying premiums for. I think my best plan is to give to my law firm and the government authorities to investigate as I find it just seems a way of not to honour my claim.
Hi Peter, I hope your claim has been resolved. We apologise for the delay in responding. If you would like to discuss your case and claim, please call 132 135. Kind regards BT
People are complaining about the service and every response is "call 132 135". Like we didnt think of that...
Well its more likely their phone system works, because their Panorama Platform has plenty of trouble!
Im have recently had a personal injury and i am waiting on my salary insurance with BT, can you guys provide any info?
How long does funds take to 2 transfer from bt super for life account to your westpac choice account is sonce rolled over
How long does funds take to 2 transfer from bt super for life account to your westpac choice account is sonce rolled over
How long does funds take to 2 transfer from bt super for life account to your westpac choice account is sonce rolled over
Why does a family member have to wait 3half years for decesed funds to be released when all legal documents you have and funds are still been taken out when he has been decesed for 3years half years why is he still paying his money out.
Why does one have wait for a decesed family member super for 3years and have provided all legal documents and BT are still taken his funds out of his super when he is decesed and he has no voice.
As BT is doing away with investment advisers do i have to sell my portfolio & start again if i go to a different fund.
You should take what money you have left and run as far away from these criminals as possible.
Due to not working now I would like to withdrawal $20,000 as I’m 58 years but have been told I will have to pay tax because I’m not 60 years of age & I have to pay a fee of $150 as the need to sell down my assets & it would take 2 weeks to do this. Is this correct? Plus I have to deal with a Peoples Choice Credit Union advisor.
I would suggest that you go to your advisor and get specific advice about your situation, all of these questions can only be answered when a professional knows your circumstances.
I've just placed some money with superwrap through a financial advisor. Having just read this page, you will need to explain why I should not cut my losses now and place my super elsewhere.
Ron McQuarrie
Hi Ron, I don't need to explain anything. I don't have any money in this fund. I do know that I never will . AJA
Hi Ron Thanks for your question We found that our year's fees (including financial advisor) amounted to just over $7,200. Most of our friends were paying a lot less. After consulting an independent financial advisor, we found our fees were reduced by almost half by switching from BT.
Obviously you need to weigh up all options
Perhaps consult another financial advisor for further information. They don't tend to charge for an initial consultation.
As I am not a financial advisor, I can't give you any advice. I can only say that we were not happy with the fees, considering that we lost an awful lot of our investment during the Global Financial Crisis but the fees remained the same
Kind regards and good luck
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