Mercer Super is one of Australia’s leading super funds and has been supporting Australians in achieving their desired retirement outcomes since 1995. Mercer Super is backed by global retirement and investment firm, Mercer, and has access to some of the best investment managers in the world, with deep experience across traditional and alternative asset classes. We harness this global scale, expertise and knowledge to seek out the best investment opportunities in Australia and around the world, and help grow and protect members' retirement outcomes

The Mercer Super Trust (Mercer Super) is a master trust that provides super plans best suited for a range of different employers and their members. It is a regulated superannuation fund for the purposes of the Superannuation Industry (Supervision) Act 1993 (SIS). Mercer Superannuation (Australia) Limited (MSAL) is the trustee of the Mercer Super Trust.

Prior to making the decision to merge with Mercer Super, the BT Su­per Trustee en­gaged broadly across the in­dus­try via a ro­bust and com­pet­i­tive process.

Following this process the BT Super Trustee believed that merging with Mercer Super would create a larger superannuation fund with the potential to deliver stronger performance, lower fees and broader member services.

BT Super members were transferred to Mercer Super on or around 1 April 2023 via a Successor Fund Transfer.

A Successor Fund Transfer (SFT) is a transfer of the members in a superannuation fund to a different fund (Successor Fund).

The receiving fund (in this instance Mercer Super) can only be considered a Successor Fund if both the transferring and receiving trustees agree to confer on the members’ equivalent rights and the Successor Fund Transfer is in the best financial interests of the members.

Mercer Super will send you a Welcome Letter containing information about your new account, as well as login details to access your account online.

Once you have these details you’ll be able to access your super account 24/7 either via the secure Mercer Super Member Online portal or the Mercer Super mobile app.

You can download the Mercer Super mobile app via Google Play or the App Store.

The change in Fund and Member identifiers will flow through to MyGov. BT Super closed your account and Mercer Super opened an account at the time of the transfer. 

Yes, most members will receive a reduction in fees. As the transfer from BT Super to Mercer Super is now complete, you can now enjoy one of the most competitive super offers in Australia. This includes zero dollar-based administration fee, and competitive investment fees including no buy-sell spreads and, in most cases, reduced asset-based administration fees.

As part of the transfer a new account with a new member number was established for you.

Your member number will be provided in your welcome letter.

If you are a Westpac Group Plan Defined Benefit member your account number will stay the same, however the Fund will be established under a new Unique Superannuation Identifier (USI).

Your new Mercer Super plan has its own Unique Superannuation Identifier (USI) which replaces the old BT Super USI.

There are three possible Mercer Super USIs, each corresponding to a different product. These are outlined in the table below.

Additionally, your welcome letter will contain the USI your employer needs to use, as well as your new member number.

You may have to take action if you were not part of an employer plan with BT Super, and had instead nominated BT Super as your Choice of Fund.

So your employer knows where to pay your Superannuation Guarantee contributions you should advise your employer/payroll personnel that the destination for future contributions has changed, as well as provide them with the new Unique Superannuation Identifier (USI).

There are three possible Mercer Super USIs, each corresponding to a different product. These are outlined in the table below.

Additionally, your welcome letter, which you will receive in mid-late April will contain the USI your employer needs to use, as well as your new member number.

If you were in an employer plan with BT Super, your employer will be provided instructions outlining how to access your USI and new member number.

No, transferring members did not incur costs for the transfer of super accounts from BT Super to Mercer Super.

There was no change to your beneficiaries, including non-lapsing binding nominations.

No. With a Successor Fund Transfer (SFT) your super was transferred into a new fund.

This means that any authorities that were in place on your BT Super account(s) did not automatically transfer over to Mercer Super, and your financial adviser doesn't have access to your Mercer Super account following the transfer.

To allow your financial adviser to obtain access to your account information, you will need to complete the relevant form, which can be lodged with Mercer Super from 18 April 2023.

Once the relevant form has been received and processed, your financial adviser can call Mercer Super on 1800 682 525, Monday to Friday, 8am – 7pm (AEST/AEDT) to obtain your account information / adviser summary.  (However there may be some short delays up until 1 May 2023.)

Mercer Super proportionally reduce your overall balance when making partial withdrawals. You cannot specify investment types to be drawn down.

Yes, your investment options changed, with your initial Mercer Super investment option(s) closely matching your BT Super investment options.  You will have received a Significant Event Notice from BT Super explaining how your assets will be transferred to the new investment options. You will also find information about your new investment options included in your Mercer Super Welcome Letter.

Mercer Super has a range of investment options available to members and you can read more about these in the investment menu document, or in the Product Disclosure Statement.

You can switch your investment options via our secure Member Online portal, the Mercer Super mobile app, or through the Mercer Super Helpline on 1800 682 525, Monday to Friday, 8am – 7pm (AEST/AEDT).

Investment switches are processed at 4pm each business day. Any requests received after 4pm will be processed the following business day.

Multiple switches can occur, however the last switch will over-ride any previous changes.

We’ve passed the annual performance test

Under the Australian Government’s Your Future, Your Super reforms, which came into effect on 1 July 2021, the Australian Prudential Regulatory Authority conducts an annual performance test for MySuper products, which is intended to hold super funds to account for underperformance through greater transparency and increased consequences.  

The 2023 annual performance test was extended to apply to both MySuper products and Trustee-Directed Products (TDPs).¹ 

We are pleased to confirm that Mercer Super passed the annual performance test in 2021, 2022 and 2023.

^{1. Generally, trustee-directed products are accumulation choice products with strategic asset allocations to more than one asset class and where the superannuation trustee or its related entity is responsible for designing or implementing the product’s investment strategy. Certain products are excluded, including where the superannuation interests are defined-benefit interests or where the superannuation interest supports a superannuation income stream that is in the retirement phase.}

Generally, any insurance cover you had previously will continue with Mercer Super, and your cover will be at least to the same level. 

Your insurance arrangements (such as insurance cover and costs) generally remain the same.

Note BT Super deducted insurance fees in advance, at the start of each month, whereas Mercer Super will deduct insurance fees in arrears, at the end of each month.

Provided your employer wishes to continue to cover the cost of your insurance cover, this will continue with Mercer Super.

Your employer will be contacted in April to inform them of the processing requirements.

No, if you have lodged an insurance claim through BT Super before the transfer date it will not be affected by the transfer. 

If your claim is still open once the transfer process has been completed, Mercer Super will provide you with the details of a new Case Manager who will look after your claim going forward.

Yes, you can lodge a request with Mercer Super from 18 April 2023, by calling Westpac Group Plan Defined Benefits on 1800 227 262, Monday to Friday, 8:30am-5:30pm (AEST/AEDT).     

Your BT Super Sims Group Defined Benefit account was transferred to Mercer Super ­on 1 April 2023.

Your Defined Benefit entitlements did not change following the completion of the transfer, and your employer, Sims Group continues to make contributions to the Sims Group Defined Benefit Plan.

Retaining your Defined Benefits was a requirement of the transfer to Mercer Super. Upon completion of the transfer, your Defined Benefits are provided from the Mercer Super Trust which is overseen by their Trustee, Mercer Superannuation (Australia) Limited (MSAL).

BT Super’s Trustee and the consulting actuary reviews the financial position of Defined Benefit plans on a quarterly basis. As at the end of September 2022, assets continue to be available to meet member benefit payments as they fall due and will continue to be available regardless of the transfer and sale. Now that the transfer process has been completed, the Trustee of the Mercer Super Trust will manage this responsibility.

Your Westpac Group Plan Defined Benefit account balance was transferred to Mercer Super on 1 April 2023.

Please note that your current contact centre for enquiries remains unchanged on 1800 227 262, Monday to Friday, 8.30am-5.30pm (AEST/AEDT). 

Your Defined Benefit entitlements did not change following the completion of the transfer and your employer, Westpac, continues to make contributions to the Westpac Group Plan.

Retaining your Defined Benefits is a requirement of the transfer to Mercer Super. Upon completion of the transfer, your Defined Benefits are provided from the Mercer Super Trust which is overseen by their Trustee, Mercer Superannuation (Australia) Limited (MSAL).

BT Super’s Trustee and the consulting actuary reviews the financial position of Defined Benefit plans on a quarterly basis. As at the end of September 2022, assets continue to be available to meet member benefit payments as they fall due and will continue to be available regardless of the merger and sale. Now that the transfer process has been completed, the Trustee of the Mercer Super Trust will manage this responsibility.

Your Defined Benefit Pension entitlements did not change following the completion of the transfer process, and the employer-sponsor, Westpac, continues to make contributions to the Westpac Group Plan.

No, the transfer did not change any nominated pension payment amount. However, the minimum pension amount will be re-calculated and may change the final pension payment amount in June for the 2022-23 financial year.

Minimum and maximum pension payment (if applicable) amounts may change in the future, if required under legislation.

For some members, there is a change in the frequency of pension payments, which may also impact the amount you are receiving on a recurring basis. Please refer to the next question, "Did my pension payment frequency change?".

Mercer Super offers members a choice of either monthly, quarterly or annual pension payment frequencies. If you’ve nominated one of these frequencies with BT Super your payment frequency remains the same.

However, if you’ve nominated with BT Super to receive your pension payment half-yearly, the frequency of that payment has changed to quarterly.

This will mean your existing payment arrangements will be split from two payments per year to four payments per year. For example, if you receive a half-yearly pension payment in February and August each year, the new payment arrangement once the transfer process has been completed, will have two additional payment dates going forward: February, May, August and November.

Please note: The annual overall payment amount of the pension payment will not change.

The frequency of your pension payment can be changed via our secure Member Online portal, the Mercer Super mobile app, or by contacting Mercer Super Helpline on 1800 682 525 Monday to Friday, 8am – 7pm (AEST/AEDT).

Yes, there are changes to the timing of pension payments.

All pension payments from your new Mercer Super account are made on or around the 15th of the applicable month, if that is a business day. If not, the payment will be made the following business day.

No, there is no action that you need to take as a result of the transfer. BT Super and Mercer Super have liaised directly with Centrelink to inform them of the transfer.

To obtain a copy of your Centrelink Schedule please contact Mercer Super on 1800 682 525, Monday – Friday, 8am – 7pm (AEST/AEDT).

You will have received a Significant Event Notice from BT Super from 30 January 2023 advising you of the transition.

You’ll receive your Mercer Super welcome letter explaining how to set up your online account and where to go to for help.

You’ll also have access to the Mercer Super member portal where you can check your balance, nominate beneficiaries or switch investment options – plus much more.

Mercer Super Product Disclosure Documents, forms, guides and Target Market Determinations are available on the Mercer Super website.

Yes, if you’ve opted to receive communications electronically or via post with BT Super, this preference will automatically continue.

BT Super members were transferred to Mercer Super on 1 April 2023 via a Successor Fund Transfer.

Mercer Super will send you a Welcome Letter containing information about your new account, as well as login details to access your account online.

Once you have these details you’ll be able to access your super account 24/7 either via the secure Mercer Super Member Online portal or the Mercer Super mobile app.

You can download the Mercer Super mobile app via Google Play or the App Store.

Access to your BT Super account ceased once the transfer process completed on 1 April 2023.