BT Lifetime
Super –
Employer Plan
Part 1
Annual Report
for the year ended 30 June 2015
This Annual Report has two parts:
�Part 1 – BT Lifetime Super –
Employer Plan Annual Report
30 June 2015
�Part 2 – Defined Benefit
Annual Report 30 June 2015
Members should read both parts.
BT Funds Management Limited
ABN 63 002 916 458
AFSL 233724
Westpac Banking Corporation
ABN 33 007 457 141
Table of contents
Table of
Contents
Recent developments in superannuation
1
Proposed changes to superannuation
3
Product changes
4
Understanding your investment
13
Investments exceeding 5%
page 1
17
Other important information
page 3
21
Financial information
page 4
25
page 6
page 6
About this Annual Report
BT Lifetime Super – Employer Plan (BT Super) forms part of the Retirement Wrap super fund (Fund) ABN 39 827 542 991 and is issued by
BT Funds Management Limited ABN 63 002 916 458, AFSL 233724 (‘BTFM’, ‘Trustee’, ‘we’, ‘our’ or ‘us’), the Trustee of Retirement Wrap.
A Product Disclosure Statement (PDS) is available for BT Lifetime Super – Employer Plan and can be obtained by calling 132 135, or visiting
bt.com.au. You should obtain and consider the information before deciding whether to acquire, continue to hold or dispose of interests in
BT Lifetime Super – Employer Plan.
The investment manager for the BT investment options is BT Investment Management (Institutional) Limited ABN 17 126 390 627,
AFSL 316455 and for the BT Multi-manager investment options, the investment manager is Advance Asset Management Limited
ABN 98 002 538 329, AFSL 240902. The Trustee may use other investment managers from time to time which are detailed within relevant
disclosure material.
An investment in BT Lifetime Super - Employer Plan is not an investment in, deposit with or any other liability of Westpac Banking
Corporation ABN 33 007 457 141 (the Bank) or any other company in the Westpac Group. It is subject to investment risk, including
possible delays in repayment of withdrawal proceeds and loss of income and principal invested. The Bank and its related entities do not
stand behind or otherwise guarantees the capital value or investment performance of any investment option offered through BT Lifetime
Super - Employer Plan.
Past performance is not a reliable indicator of future performance. This Annual Report provides an overview or summary only and it should
not be considered a comprehensive statement on any matter or relied upon as such. This information has been prepared without taking
account of your objectives, financial situation or needs. Because of this you should, before acting on this information, consider its
appropriateness, having regard to your objectives, financial situation and needs. BT Funds Management Limited’s Financial Services Guide
can be obtained by calling 132 135, or visiting bt.com.au.
The taxation position described is a general statement and should only be used as a guide. It does not constitute tax advice and is based
on current tax laws and our interpretation. Your individual situation may differ and you should seek independent professional tax advice.
The Annual Report was prepared on 30 November 2015.
Recent developments in
superannuation
1. 2015/16 superannuation thresholds
3.Preservation Age increases
The superannuation contributions caps and various
other superannuation thresholds that apply for the
2015/16 financial year are as follows:
Generally you can access your superannuation
when you have permanently retired on or after
reaching your preservation age or after you reach
age 65. You can access your superannuation in
other limited circumstances such as if you become
permanently incapacitated, are suffering from a
terminal medical condition or are suffering severe
financial hardship.
Low rate cap:
$195,000
Concessional contributions cap:
– Age 49 or over on 30 June 2015
$35,000
– Under age 49 on 30 June 2015
Non-concessional contributions cap:
Capital Gains Tax (CGT) Cap (lifetime limit):
$30,000
$180,0001
$1,355,000
Government Co-contributions:
– Maximum co-contribution2
$500
– Lower threshold
$35,454
– Upper threshold (cut off)
$50,454
1 if you were under age 65 on 1 July 2015 you may be able
to make up to $540,000 of non-concessional contributions
over three financial years. If you triggered the ‘bring forward
non‑concessional cap’ in 2013/14 you can only make
non-concessional contributions up to $450,000 over
the relevant 3 year period.
2 the maximum co-contribution payable is phased out by
3.333 cents for every dollar of total income over the lower
threshold, until it reaches zero at the upper threshold.
2.Higher concessional
contributions cap
An increased concessional contribution cap of
$35,000 pa (not indexed) is available for members
aged 59 years or over on 30th June 2013 or 49
years or over from 30 June 2014 (see table below).
Income Year
2015-16
2014-15
2013-14
Concessional cap for those aged
59 years or 49 years or 49 years or
over on 30
over on 30
over on 30
June 2013
June 2014
June 2015
$35,000
$35,000
$35,000
$35,000
$35,000
$30,000
$35,000
$25,000
$25,000
If you are aged between preservation age and age
65 you can also commence a transition to retirement
pension allowing you to access your superannuation
in the form of a non-commutable income stream.
If you were born before 1 July 1960 your
preservation age is 55. If you were born on or
after 1 July 1960 your preservation age is between
56 and 60 depending on your date of birth (see the
table below).
Date of Birth
Before
1 July 1960
1 July 1960 –
30 June 1961
1 July 1961 –
30 June 1962
1 July 1962 –
30 June 1963
1 July 1963 –
30 June 1964
After
30 June 1964
Preservation When you will reach
Age
Preservation Age
Before
55
1 July 2015
1 July 2016 –
56
30 June 2017
1 July 2018 –
57
30 June 2019
1 July 2020 –
58
30 June 2021
1 July 2022 –
59
30 June 2023
After
60
30 June 2024
From 1 July 2015 the general concessional
contribution cap is $30,000 pa.
The higher cap will cease to apply when the general
concessional contributions cap reaches $35,000 as
a result of indexation.
Annual Report 2015
1
Recent
developments in
- Con’t 
superannuation – Con’t 
4. Terminal Medical Condition
of release
* Your super account will generally be considered
‘lost’ if:
From 1 July 2015, the certification period has been
extended from 12 to 24 months for individuals
suffering from a terminal medical condition.
`` no contributions or rollovers have been added
to your account in the last year and either the
Trustee has never had an address for you or mail
sent to you by the Trustee has been returned
unclaimed, or
If you are suffering from an illness or have incurred
an injury that is likely to result in death within
24 months, you may be eligible to access your
super as a tax-free lump sum benefit.
It’s important to note that if you hold insurance and
you withdraw your entire superannuation benefit
you will lose any insurance you currently have.
To continue your insurance you will need to leave
sufficient balance in your account to fund future
premiums. This information is intended as a guide
only and does not constitute advice. Before making
a withdrawal under Terminal medical condition
you should speak to your financial adviser about
the impacts this could have on your insurance
entitlements.
`` for default employer super plans, no contributions
or rollovers have been added to your super
account in the last five years
5. Lost member accounts transferred
to the ATO
If your account is considered to be lost*, the Trustee
may be required to transfer your account balance to
the ATO if:
`` your account balance is less than the small lost
account threshold; or
`` the Trustee is satisfied that it will never be
possible to pay an amount to you (because you
cannot be identified based on the information
reasonably available to the Trustee).
From 31 December 2015, the small lost account
threshold will increase to $4,000 (currently $2,000)
and from 31 December 2016 it will increase further
to $6,000.
If your account balance is transferred you will be
able to reclaim it from the ATO. The ATO will pay
interest on unclaimed super money amounts paid
directly to eligible individuals for the period the
money was held by the ATO after 1 July 2013.
Any interest paid is tax free.
2
BT Lifetime Super – Employer Plan
Proposed changes to
superannuation
ATO payment of unclaimed
super money
In certain circumstances superannuation funds may
be required to transfer super account balances
to the ATO as unclaimed superannuation money.
Currently, the ATO can only pay this money directly
to a person, if they have reached age 65 or the
amount is less than $200.
It is proposed that from 1 July 2016, the ATO will
be able to pay unclaimed superannuation money
directly to individuals suffering from a terminal
medical condition. Requests for payment can
be made using the ATO Payment of unclaimed
super money - individual form. Certified copies of
medical certificates must also be provided from two
registered medical practitioners, one of which is a
specialist in the area related to the individual’s illness
or injury, certifying that the individual suffers from an
illness, or has incurred an injury, that is likely to result
in the death of the individual within 24 months.
Individuals can also request the ATO to transfer
unclaimed superannuation money held on their
behalf to a complying super fund at any time.
Annual Report 2015
3
Product changes
Insurance definition changes impacting BT Lifetime Super – Employer Plan
As a result of changes to superannuation regulations, the insurance definitions for Total and Permanent
Disablement (TPD) and Salary Continuance Insurance (SCI) were amended for new insurance cover issued
within BT Lifetime Super – Employer Plan on or after 1 July 2014. These definitions, along with the other
terms of your cover, determine whether you are eligible for a payment from the insurer due to a terminal
medical condition or incapacity.
The table below illustrates the changes to these definitions.
Type of cover
Total and
Permanent
Disablement
(TPD)
4
Pre 1 July 2014 definition
Total and Permanent Disablement
You may receive a lump sum benefit for TPD under
either of the definitions outlined below.
Definition 1
You have suffered the total and irrecoverable loss
of use of:
both hands
both feet
one hand and one foot
the sight of both eyes
one hand and the sight of one eye; or
one foot and the sight of one eye.
OR
Definition 2
(a)If you’re an Insured Member under age 65 and
are working 15 or more hours per week
(including Casual employees, Contractors and
spouse members):
you are unable to follow your usual occupation
by reason of an illness, accident or injury for
a period of six consecutive months after the
occurrence of the illness, accident or injury;
and
in the opinion of the Insurer (after consideration
of medical and other evidence satisfactory to
it), you’re unlikely ever to be able to follow your
usual occupation and any other occupation for
which you’re reasonably suited by education,
training or experience.
(b)If you are:
an Insured Member aged 65 and above an
Insured Member under age 65 and are working
less than 15 hours per week (including as
a Casual employee, Contractor or spouse
member)
a non-working Insured Member (excluding
non‑working spouse members and nonworking personal members)
an Insured Member who has been on employer
approved leave for a period greater than 24
months, or
an Insured Member working in a ‘Special Risk
Occupations’
Post 1 July 2014 definition
Total and Permanent Disablement
You may receive a lump sum benefit for TPD under
either of the definitions outlined below.
Definition 1
You have suffered the total and irrecoverable loss of
use of:
both hands
both feet
one hand and one foot
the sight of both eyes
one hand and the sight of one eye, or
one foot and the sight of one eye
and
in the opinion of the Insurer (after consideration
of medical and other evidence satisfactory to it),
you’re unlikely ever to be able to follow your
usual occupation and any other occupation for
which you’re reasonably suited by education,
training or experience.
OR
Definition 2
(a)If you’re an Insured Member under age 65 and
are working 15 or more hours per week (including
Casual employees, Contractors and spouse
members):
you are unable to follow your usual occupation by
reason of an illness, accident or injury for a period
of six consecutive months after the occurrence of
the illness, accident or injury; and
in the opinion of the Insurer (after consideration
of medical and other evidence satisfactory to it),
you’re unlikely ever to be able to follow your usual
occupation and any other occupation for which
you’re reasonably suited by education, training
or experience.
(b)If you are:
an Insured Member aged 65 and above
an Insured Member under age 65 and are
working less than 15 hours per week (including
as a Casual employee, Contractor or spouse
member)
a non-working Insured Member (excluding
non‑working spouse members and non-working
personal members)
an Insured Member who has been on employer
approved leave for a period greater than
24 months, or
BT Lifetime Super – Employer Plan
Type of cover
Total and
Permanent
Disablement
(TPD)
Pre 1 July 2014 definition
and
you’re continuously and totally unable to perform
at least two of the following Activities of Daily
Living, as certified by a Medical Practitioner
appointed by the Insurer:
Bathing: the ability to wash oneself either in the
bath or shower or by sponge bath, without the
standby assistance of another person.
Dressing: the ability to put on and take off all
garments and medically necessary braces or
artificial limbs usually worn, and to fasten and
unfasten them, without the standby assistance
of another person.
Eating: the ability to feed oneself once food has
been prepared and made available, without the
standby assistance of another person.
Toileting: the ability to get to and from and
on and off the toilet, without the standby
assistance of another person and ability to
manage bowel and bladder functions through
the use of protective undergarments or surgical
appliances, if appropriate.
Transferring: the ability to move in and out
of a chair, without the standby assistance of
another person.
(c)If you’re an Insured Member under age 65 and
are a non-working spouse member or
non-working personal member and you’re
continuously and totally unable to perform at
least two of the following ‘home duties’ as
certified by a qualified Medical Practitioner
appointed by the Insurer:
Dressing and undressing: the ability to put
on and take off all garments and medically
necessary braces or artificial limbs usually
worn, and to fasten and unfasten them,
without the standby assistance of another
person.
Washing and bathing: the ability to wash
oneself either in the bath or shower or by
sponge bath, without the standby assistance
of another person.
Eating: the ability to feed oneself once food has
been prepared and made available, without the
standby assistance of another person.
General household duties: the ability to perform
day to day household duties, without the
standby assistance of another person.
Climbing stairs: the ability to climb stairs,
without the standby assistance of another
person, without holding a banister and without
taking a rest – all within a reasonable period of
time.
Shopping: the ability to leave the home, by any
means, and to undertake day to day shopping,
without the standby assistance of another
person.
Annual Report 2015
Post 1 July 2014 definition
an Insured Member working in a ‘Special Risk
Occupations’; and
you’re continuously and totally unable to perform at
least two of the following Activities of Daily Living, as
certified by a Medical Practitioner appointed by the
Insurer:
Bathing: the ability to wash oneself either in the
bath or shower or by sponge bath, without the
standby assistance of another person.
Dressing: the ability to put on and take off all
garments and medically necessary braces or
artificial limbs usually worn, and to fasten and
unfasten them, without the standby assistance of
another person.
Eating: the ability to feed oneself once food has
been prepared and made available, without the
standby assistance of another person.
Toileting: the ability to get to and from and on
and off the toilet, without the standby assistance
of another person and ability to manage bowel
and bladder functions through the use of
protective undergarments or surgical appliances,
if appropriate.
Transferring: the ability to move in and out of a
chair, without the standby assistance of another
person; and
in the opinion of the Insurer (after consideration of
medical and other evidence satisfactory to it),
you’re unlikely ever to be able to follow your usual
occupation and any other occupation for which
you’re reasonably suited by education, training or
experience.
(c)If you’re an Insured Member under age 65 and
are a non-working spouse member or nonworking personal member and you’re
continuously and totally unable to perform at least
two of the following ‘home duties’ as certified by
a qualified Medical Practitioner appointed by the
Insurer:
Dressing and undressing: the ability to put on and
take off all garments and medically necessary
braces or artificial limbs usually worn, and to
fasten and unfasten them, without the standby
assistance of another person.
Washing and bathing: the ability to wash oneself
either in the bath or shower or by sponge bath,
without the standby assistance of another
person.
Eating: the ability to feed oneself once food has
been prepared and made available, without the
standby assistance of another person.
General household duties: the ability to perform
day to day household duties, without the standby
assistance of another person.
Climbing stairs: the ability to climb stairs, without
the standby assistance of another person,
without holding a banister and without taking a
rest, all within a reasonable period of time.
5
Product changes – Con’t 
6
Type of cover
Total and
Permanent
Disablement
(TPD)
Pre 1 July 2014 definition
(d)As a result of illness or injury an Insured
Member suffers Cognitive loss.
‘Cognitive loss’ means the Insurer has
determined a total and permanent deterioration
or loss of intellectual capacity that requires the
Insured Member to be under continuous care
and supervision by another adult person for at
least six consecutive months, and at the end of
that six month period, they are likely to require
permanent ongoing continuous care and
supervision by another adult person.
The payment of any claim is also subject to the
Insurer having received the insurance premiums
due in respect of your insurance up to the event
giving rise to the claim occurring. We cannot
pay outstanding premiums to the Insurer unless
sufficient contributions have been made to your
account.
Where your TPD benefit is less than your Death
benefit and you receive a TPD benefit, any Death
benefit paid to your beneficiaries will be reduced
by the amount paid to you as a TPD benefit.
Salary
Continuance
Insurance
(SCI)
Total Disability (for SCI purposes only) – means
disablement resulting from injury or sickness as a
result of which the Insured Member, working 15
hours or more per week on average over the three
months prior to disability, is:
unable to perform at least one important duty
of his or her usual occupation necessary to
produce Income
under the regular care, in attendance or
following the advice of a Medical Practitioner in
relation to the injury or sickness; and
not engaged in any occupation, whether paid
or unpaid.
An important duty is defined as involving 20% or
more of the Insured Member’s overall tasks
responsible for generating at least 20% or more of
the Insured Member’s Pre-disability Income.
Post 1 July 2014 definition
Shopping: the ability to leave the home, by any
means, and to undertake day to day shopping,
without the standby assistance of another
person
and
in the opinion of the Insurer (after consideration of
medical and other evidence satisfactory to it),
you’re unlikely ever to be able to follow your usual
occupation and any other occupation for which
you’re reasonably suited by education, training or
experience.
(d)As a result of illness or injury an Insured Member
suffers Cognitive loss.
‘Cognitive loss’ means the Insurer has determined
a total and permanent deterioration or loss of
intellectual capacity that requires the Insured
Member to be under continuous care and
supervision by another adult person for at least
six consecutive months, and at the end of that six
month period, they are likely to require permanent
ongoing continuous care and supervision by
another adult person
and
in the opinion of the Insurer (after consideration of
medical and other evidence satisfactory to it),
you’re unlikely ever to be able to follow your usual
occupation and any other occupation for which
you’re reasonably suited by education, training or
experience.
The payment of any claim is also subject to the
Insurer having received the insurance premiums due
in respect of your insurance up to the event giving
rise to the claim occurring. We cannot pay
outstanding premiums to the Insurer unless sufficient
contributions have been made to your account.
Where your TPD benefit is less than your Death
benefit and you receive a TPD benefit, any Death
benefit paid to your beneficiaries will be reduced by
the amount paid to you as a TPD benefit.
Total Disability (for SCI purposes only) – means
disablement resulting from injury or sickness as a
result of which the Insured Member, working 15
hours or more per week on average over the three
months prior to disability, is:
unable to perform at least one important duty
of his or her usual occupation necessary to
produce Income
under the regular care, in attendance or following
the advice of a Medical Practitioner in relation to
the injury or sickness, and
not engaged in any occupation, whether paid
or unpaid.
An important duty is defined as involving 20% or
more of the Insured Member’s overall tasks
responsible for generating at least 20% or more of
the Insured Member’s Pre-disability Income.
BT Lifetime Super – Employer Plan
Type of cover
Salary
Continuance
Insurance
(SCI)
Pre 1 July 2014 definition
Disablement resulting solely from injury or sickness
which occurs while the Policy is inforce and as a
result of which the Insured Member, working less
than 15 hours per week on average over the three
months prior to disability:
remains under the regular care and attendance
or is following the advice of a Medical
Practitioner in relation to that injury or sickness
is not engaged in any occupation, whether
paid or unpaid, and
is continuously and totally unable to perform at
least two of the following activities of daily living
as certified by a Medical Practitioner.
–– Bathing: the ability to wash themselves either
in the bath or shower or by sponge bath,
without the standby assistance of another
person.
–– Dressing: the ability to put on and take off all
garments and medically necessary braces
or artificial limbs usually worn, and to fasten
and unfasten them, without the standby
assistance of another person.
–– Eating: the ability to feed themselves once
food has been prepared and made available,
without the standby assistance of another
person.
–– Toileting: the ability to get to and from and
on and off the toilet, without the standby
assistance of another person and the ability
to manage bowel and bladder functions
through the use of protective undergarments
or surgical appliances, if appropriate.
–– Transferring: the ability to move in and out
of a chair, without the standby assistance
of another person.
Post 1 July 2014 definition
In addition, the Injury or Sickness must have caused
you to temporarily cease to be gainfully employed or
to temporarily cease receiving gain or reward under
a continuing arrangement to be gain fully employed.
Disablement resulting solely from injury or sickness
which occurs while the Policy is inforce and as a
result of which the Insured Member, working less
than 15 hours per week on average over the three
months prior to disability:
remains under the regular care and attendance or
is following the advice of a Medical Practitioner in
relation to that injury or sickness
is not engaged in any occupation, whether paid
or unpaid, and
is continuously and totally unable to perform at
least two of the following activities of daily living
as certified by a Medical Practitioner.
–– Bathing: the ability to wash themselves either in
the bath or shower or by sponge bath, without
the standby assistance of another person.
–– Dressing: the ability to put on and take off all
garments and medically necessary braces or
artificial limbs usually worn, and to fasten and
unfasten them, without the standby assistance
of another person.
–– Eating: the ability to feed themselves once
food has been prepared and made available,
without the standby assistance of another
person.
–– Toileting: the ability to get to and from and
on and off the toilet, without the standby
assistance of another person and the ability to
manage bowel and bladder functions through
the use of protective undergarments or surgical
appliances, if appropriate.
–– Transferring: the ability to move in and out
of a chair, without the standby assistance
of another person.
In addition, the Injury or Sickness must have caused
you to temporarily cease to be gainfully employed or
to temporarily cease receiving gain or reward under a
continuing arrangement to be gainfully employed.
If you apply for new insurance cover issued on or after 1 July 2014, please ensure you have carefully read the
‘Insurance in your super’ section of the Product Disclosure Statement (PDS) issued on or after 1 July 2014
and any relevant disclosure documents to understand the impact of these changes to you before applying.
You can obtain a copy of the current PDS and any other relevant disclosure documents by visiting bt.com.au
or calling BT Customer Relations on 132 135.
Annual Report 2015
7
Product changes – Con’t 
Investment option benchmark changes impacting BT Lifetime Super –
Employer Plan
Effective the 29 September 2014, the UBS Australia Bond Index series was rebranded to Bloomberg as a
result of Bloomberg’s acquisition of the UBS Australia Bond Index series. This includes the benchmark index
names outlined in the AIB.
The table below illustrates changes to the benchmark names for the relevant investment options.
Investment option name
BT Cash
BTA0511AU
UBS Bank Bill Index
BT Conservative Outlook
BTA0512AU
UBS Bank Bill Index
UBS Composite Bond Index
BT Australasian Bond
BTA0028AU
UBS Composite Bond Index
Macquarie Diversified
Fixed Interest
BTA0257AU
UBS Composite Bond Index
BT Balanced Returns
BTA0513AU
BTA0513AU
UBS Composite Bond Index
UBS Bank Bill Index
BTA0098AU
UBS Bank Bill Index
Bloomberg Reference Benchmark
(new)
Bloomberg AusBond Bank Bill Index
Bloomberg AusBond Bank Bill Index
Bloomberg AusBond Composite 0+
Yr Index
Bloomberg AusBond Composite 0+
Yr Index
Bloomberg AusBond Composite 0+
Yr Index
Bloomberg AusBond Composite 0+
Yr Index
Bloomberg AusBond Bank Bill Index
Bloomberg AusBond Bank Bill Index
BTA0160AU
UBS Bank Bill Index
Bloomberg AusBond Bank Bill Index
BTA0068AU
BTA0068AU
UBS Bank Bill Index
UBS Composite Bond Index
Bloomberg AusBond Bank Bill Index
Bloomberg AusBond Composite 0+
Yr Index
Westpac Balanced
BlackRock Scientific
Diversified Growth
BT Future Goals
APIR code
UBS Reference Benchmark (old)
The benchmark name changes have no direct impact to your investment in BT Lifetime Super – Employer
Plan – there is no change to the underlying index methodology. Information about Bloomberg indices can be
found at www.bloombergindexes.com/fixed-income/ausbond/
Changes to strategic asset allocations, and other product changes made after 30 June 2015, are made
available to members in the PDS and online via http://www.bt.com.au/help/product-updates
Strategic asset allocation changes impacting BT Lifetime Super –
Employer Plan
Effective from 1 January 2015, the Strategic Asset Allocation for particular asset classes has changed. The
asset classes impacted for each BT MySuper Lifestage Fund is summarised below:
• 1940s: Equity – International (listed) and Cash.
•
1950s: Equity – Australian (listed), Equity – International (listed), Property – International (listed),
Commodities – International (listed), Other – International (Alternatives Defensive) and Cash.
• 1960s: Equity – International (listed) and Cash.
• 1970s: Equity – International (listed) and Other – International (Alternatives Growth).
There is no change to the ongoing management costs of the impacted BT MySuper Lifestage Investment
Options.
As a result of the changes, the table on the following page has been updated and replaces the table in the
Product Disclosure Statement and Additional Information Booklet - Part 2 Investment.
8
BT Lifetime Super – Employer Plan
Strategic Asset Allocation for BT MySuper Lifestage Funds as at 1 January 2015
Lifestage Investment Option
Asset Type (%)
1940s
1950s
1960s
1970s
1980s
1990s
2000s
6
16
25
31
33
33
33
(0 – 21)
(2 – 32)
(10 – 40)
(16 – 46)
(18 – 48)
(18 – 48)
(18 – 48)
3
14
23
30
33
33
33
(0 – 19)
(0 – 30)
(9 – 39)
(16 – 46)
(18 – 48)
(18 – 48)
(18 – 48)
Property
- Australian (listed)
1
1
1
1
1
1
1
- International (listed)
2
3
3
3
3
3
3
- Australian (unlisted)
1
1
1
1
1
1
1
- International (unlisted)
2
2
2
2
2
2
2
(0 – 21)
(0 – 21)
(0 – 22)
(0 – 22)
(0 – 22)
(0 – 22)
(0 – 22)
Other - International (Alternatives Growth)
9
11
13
15
15
15
15
Commodities - International (listed)
1
1
2
2
2
2
2
(0 – 15)
(0 – 18)
(0 - 20)
(1 - 21)
(2 - 22)
(2 - 22)
(2 - 22)
Total growth assets
25
49
70
85
90
90
90
Fixed Income - Australian
10
7
4
2
1
1
1
(0 – 25)
(0 – 22)
(0 – 19)
(0 – 17)
(0 – 16)
(0 – 16)
(0 – 16)
16
10
6
3
2
2
2
(1 – 31)
(0 – 25)
(0 – 21)
(0 – 18)
(0 – 17)
(0 – 17)
(0 – 17)
25
17
9
4
2
2
2
Range
(10 – 30)
(1 – 21)
(0 – 14)
(0 – 9)
(0 – 7)
(0 – 7)
(0 – 7)
Cash
24
17
11
6
5
5
5
Range
(8 – 38)
(1 – 31)
(0– 25)
(0 – 21)
(0 – 20)
(0 – 20)
(0 – 20)
75
51
30
15
10
10
10
Equity - Australian (listed)
Range
Equity - International (listed)
Range
Range
Range
Range
Fixed Income - International
Range
Other - International (Alternatives Defensive)
Total defensive assets
Annual Report 2015
9
- Con’t 
Product
changes – Con’t 
Investment option benchmark changes impacting BT Lifetime Super Employer Plan
Effective 1 April 2015, the UBS Global Property Index (UBS Global Real Estate Investors (ex Australia) Index)
was replaced by the FTSE Global Property Index (FTSE EPRA/NAREIT Developed ex Australia hedged in
AUD Net TRI) as a result of UBS ceasing to be a provider of Global Property indices from 1 April 2015. This
includes the benchmark index names outlined in the AIB.
The table below illustrates changes to the benchmark names for the relevant investment options.
Investment option
name
APIR code
Global Property Benchmark (old)
Global Property Benchmark (new)
BT Global Property
BTA0254AU
UBS Global Real Estate Investors
(ex Australia) Index
FTSE EPRA/NAREIT Developed ex
Australia hedged in AUD Net TRI
BT Balanced Returns
BTA0513AU
UBS Global Real Estate Investors
(ex Australia) Index
FTSE EPRA/NAREIT Developed ex
Australia hedged in AUD Net TRI
BT Conservative
Outlook
BTA0512AU
UBS Global Real Estate Investors
(ex Australia) Index
FTSE EPRA/NAREIT Developed ex
Australia hedged in AUD Net TRI
BT Future Goals
BTA0068AU
UBS Global Real Estate Investors
(ex Australia) Index
FTSE EPRA/NAREIT Developed ex
Australia hedged in AUD Net TRI
The previous index provider (UBS) ceased to provide Global Property indices after 31 March 2015 so a
suitable replacement index provider had to be selected. The benchmark change incurred a minor
one-off transaction cost (up to a maximum of 0.03% for those investment options with 100% exposure to the
Global Property asset class and significantly less for Diversified funds which have small allocations to Global
Property) as part of standard buying and selling transactions associated with the ongoing management
of these investment options. This will have had no direct impact to your investment in BT Lifetime Super –
Employer Plan - there is no change to the investment return objective, strategy or investment process.
Closure of the Colonial First State Wholesale Global Resources Fund
Investment Option
As part of our regular review of the BT Super investment menu, the Colonial First State Wholesale Global
Resources Fund was closed and removed from the investment menu effective 22 June 2015.
The decision to close this Investment Option was made to minimise risk to members of a potential negative
impact on returns. There has been limited demand for the option and this low level of investment can result in
negative tax impacts affecting the investment option’s returns.
10
BT Lifetime Super – Employer Plan
Strategic Asset Allocation Neutral Position changes to certain Investment
Options
Effective 20th April 2015, the asset allocation Neutral Positions (NP) for certain Investment Options have
changed from those disclosed in the Additional Information Booklet Part 2 – Investment to the PDS.
There is no change to the ongoing management costs of the affected Investment Options.
The new asset allocation NP changes for each affected Investment Option are outlined below.
BT Lifetime Super Employer Plan – BT Balanced Returns
Fund
BT Balanced Returns Fund
APIR Code
BTA0513AU
Asset allocation
neutral position (NP)
and ranges %
Asset type
Current Range Previous Neutral
(no change)
Position
Current
Neutral
Position
Australian shares
23 – 43
31
30
International shares
10 – 30
16
16
Australian fixed interest
5 – 32
20
19
International fixed interest
0 – 20
10
10
Australian property
0 – 10
5
5
International property
0 – 10
2
2
Cash
0 – 20
4
4
Alternative investments
0 – 20
12
14
BT Lifetime Super Employer Plan – BT Conservative Outlook
Fund
BT Conservative Outlook Fund
APIR Code
BTA0512AU
Asset allocation
neutral position (NP)
and ranges %
Asset type
Australian shares
Annual Report 2015
Current Range Previous Neutral
(no change)
Position
5 – 25
13
Current
Neutral
Position
13
International shares
0 – 18
7
7
Australian fixed interest
20 – 55
36
33
International fixed interest
5 – 35
19
17
Australian property
0 – 10
4
4
International property
0 – 10
2
2
Cash
0 – 40
8
11
Alternative investments
0 – 20
11
13
11
- Con’t 
Product
changes – Con’t 
BT Super Employer Plan – Westpac Balanced
Fund
Westpac Balanced Fund
APIR Code
BTA0098AU
Asset allocation
neutral position (NP)
and ranges %
Asset type
Current Range Previous Neutral
(no change)
Position
Current
Neutral
Position
Australian shares
28 – 48
36
36
International shares
12 – 32
19
19
Australian fixed interest
12 – 32
15
14
International fixed interest
0 – 20
8
7
Australian property
0 – 10
6
6
Cash
0 – 10
4
4
Alternative investments
0 – 20
12
14
Need more information?
Should you require any further information or clarification, please speak to your financial advisor or contact
BT Customer Relations on 132 135 between 8.00am–6.30pm (Monday to Friday, Sydney time).
12
BT Lifetime Super – Employer Plan
Understanding your
investment
How we calculate performance
Performance figures are calculated in accordance with
the Financial Services Council (FSC) standards.
Total returns are calculated:
`` using withdrawal prices appropriate for the
month end;
`` taking into account management costs other than
Member fees of the relevant investment option; and
`` taking into account earnings tax up to a maximum of
15% plus withholding tax paid on foreign income (if
any).
Certain other fees such as Contribution fees or Transfer
fees (if any) are not taken into account.
Performance as at 30 June 2015
The most recent past performance information is
available via our website at bt.com.au, by calling BT
Customer Relations on 132 135 or your Financial Adviser.
Investment returns are historical. Investments can go
up and down and past performance is not necessarily
indicative of future performance.
For actual performance of your account in BT Lifetime
Super – Employer Plan, for the year ended 30 June
2015, please refer to your Annual Statement which was
issued to you in August 2015.
How we calculate unit prices
Each investment option has its own unit price, which is
the monetary value of one unit. Unit prices are normally
calculated every Business Day for the preceding
Business Day by dividing the net value of the investment
option (refer below) by the total number of units on issue
for that investment option. The asset values will usually
be based on closing prices or, where appropriate, other
price quotes, most recently available to us at the time
we make the calculation. The entry and exit unit prices
may include an allowance for transaction costs (buy/sell
spreads) that would be incurred if the unit’s share of the
assets were purchased or sold.
Details of unit prices for all investment options are
available on our website at bt.com.au or by contacting
BT Customer Relations on 132 135.
Notice will not ordinarily be provided. We can delay or
suspend release of prices, or apply a special price, due to
volatile market conditions and under other circumstances
that the Trustee deems reasonable.
Net value of an Investment Option
The net value of an investment option is the value
of all investments and cash held by the investment
option less amounts owing or payable in respect of
the investment option, including any provision that is
considered necessary. For example, provision might
be made for possible future losses on an investment
that is considered to be overvalued or cannot be fairly
determined. A full description of the valuation method is
given in the Trust Deed.
The net value of an investment option may include
an asset known as Deferred Tax Asset (‘DTA’). A DTA
arises when, for tax purposes, a loss is available to
offset a future gain (ie so as to reduce the amount of
gain that might otherwise be taxable). Our policy is to
recognise DTAs in BT Lifetime Super – Employer Plan
as a separate asset of the relevant investment option.
Like any other asset in an investment option, the value
of a DTA is reflected in the unit price for that investment
option, through the calculation of the net asset value.
The value of a DTA can change over time based on
the likelihood of being able to offset the losses against
future gains and the time at which they can be used.
Accordingly, changes in the value of a DTA may cause
unit prices to change, as is the case with a change in
the value of any other asset in the investment option.
The level of a DTA recorded in the unit price of an
investment option may be ‘capped’, taking into account
the probability that accumulated losses are able to be
offset against future gains.
The Joint ASIC and APRA Unit Pricing Guide to Good
Practice, and BT policy require that a DTA only be
recognised in the net asset value and unit price of an
investment option to the extent that the deferred tax
benefit is expected to be realisable in the future. It may
be necessary to reduce the level of a DTA to ensure that
the value of the investment option (and the unit price) is
not over-stated.
We can change the way in which we calculate unit
prices. Information regarding any such change will be
available on our website at bt.com.au or by contacting
BT Customer Relations on 132 135.
Annual Report 2015
13
Understanding your
investment – Con’t 
Derivatives
Changes to investment option details
These are investments whose value is derived from
other assets, such as shares, and may be used as
part of the portfolio management process. Futures
contracts and options are examples of derivatives.
We have the right to change the investment option
objective and investment strategy (including the
benchmark), asset allocation, target position,
investment manager(s) and possible variation and
currency strategy (if any), without prior notice in
some cases. We will inform account holders of any
significant material change to the investment option
details in our next regular communication or as
otherwise required by relevant law.
Derivatives may be used to reduce risk and can
act as a hedge against adverse movements in a
particular market and/or in the underlying asset.
Derivatives can also be used to gain exposure to
assets and markets. While derivatives offer the
opportunity for significantly higher gains from
a smaller investment (because of the effective
exposure obtained) they can also produce
significantly higher losses, sometimes in excess of
the amount invested.
The investment managers are required to have strict
policies and procedures on the use of derivatives and
generally are not permitted to use derivatives to gear
the investment options unless otherwise stated.
Hybrid securities
These are securities that combine both debt and
equity characteristics and are used by companies
to raise money. They include convertible preference
shares and notes, preferred units and stapled
preference shares and notes. These securities
usually provide a fixed rate of return that may be
tax effective.
Changing your investment
BT Super has a range of investment options.
Members can choose to invest in any combination
of these investment options (new contributions,
rollovers or transfers can be split between up to
six investment options). No transaction fee applies
for switches between investment options, however
a buy/sell spread may apply. There is no limit to
the number of switches that you can perform on
your account. To make a switch, simply log in to
our secure website at bt.com.au or download and
complete an Investment Choice/Switch Request
form. Refer to the BT Super Additional Information
Booklet Part 1 – General for further information
on switching.
Method of allotment of earnings in all
investment options
All income, including realised and unrealised capital
gains and losses, and expenses for all investment
options are brought to account and are fully
reflected in the unit price of that option. Income tax
as appropriate is provided for in the unit price for
each investment option.
Restrictions on application, switching
and withdrawal
In certain circumstances allowed under super law
and the Trust Deed (for example, where it would
prejudice the interests of the other members of the
Plan), we may delay, suspend or not process your
application, switch or withdrawal request.
In certain circumstances, we reserve the right to
delay or suspend unit prices, apply a special price
or not process future application, switching or
withdrawal requests.
We are only required to transfer or rollover your
benefits after receiving all relevant information as set
out in the SIS Regulations. Ordinarily, if you haven’t
made an investment selection we must transfer or
rollover your benefits within 3 days, or 30 days if
you’ve made an investment selection, of receiving
all relevant information that is necessary to process
your request. However, if you hold managed
investments and/or term deposits in your account
that are illiquid/suspended or become illiquid/
suspended, it may take longer to transfer your full
benefit. For more information, please refer to ‘Illiquid
assets’ section in the PDS.
For the investment objectives and strategies for
each individual investment option, please refer to
the Product Disclosure Statement and Additional
Information Brochure on our website or call us on
132 135 Monday to Friday 8.00 am to 6.30 pm
Sydney time.
14
BT Lifetime Super – Employer Plan
How risk is measured
The level of risk, or Standard Risk Measure, for each
investment fund is based on an estimate of the number
of negative annual returns that may be experienced
over any 20 year period as shown in the table.
Standard Risk Measure
Risk band Risk label
1
2
3
4
5
6
7
Very low
Low
Low to medium
Medium
Medium to high
High
Very high
Estimate number of
negative annual returns
over any 20 year period
Less than 0.5
0.5 to less than 1
1 to less than 2
2 to less than 3
3 to less than 4
4 to less than 6
6 or greater
The Standard Risk Measure allows you to compare
the level of risk of investment funds within BT Lifetime
Super Employer Plan as well as other investment
options available through other super funds.
The Standard Risk Measure is not a complete
assessment of all forms of investment risk, for example
it does not detail what the size of the negative return
may be or the potential for a positive return to be less
than the return you require to meet your investment
objectives. It also does not take into consideration
the impact of fees and tax on investment returns. You
should ensure you are comfortable with the risks and
potential losses associated with the investment funds
you choose to invest in.
For more details of the Standard Risk Measure
applicable to the investment option(s) available in
your product, please refer to our website bt.com.au.
Annual Report 2015
15
Understanding
your
- Con’t 
investment – Con’t 
Types of risks
There will always be the risk of fluctuations in the value of an investment. Investment risk can be managed
and even minimised but it cannot be completely eliminated. It is important to understand that not all risks are
foreseeable. There is always the chance that you may lose money on any investment you make.
Some common types of investment risks are outlined in the table below.
Risk type
Description
Security specific risk
An investment in, or exposure to, a company or managed fund that may
be affected by unexpected changes in that company’s or managed fund’s
operations (due to quality of management, use of technology etc.) or its
business environment.
Markets are affected by a multitude of factors including economic and
regulatory conditions, market sentiment, political events and environmental
and technology issues. These could have a negative effect on the returns of
all investments in that market and this may affect investments differently at
various times.
If an investment is held in international assets, a rise in the Australian dollar
relative to other currencies may negatively impact investment values or
returns.
Changes in interest rates can have a negative impact either directly or
indirectly on investment value or returns of all types of assets.
Underlying funds may use derivatives and gearing (borrowing). The value of
derivatives is linked to the value of the underlying assets and can be highly
volatile. Potential gains and losses from derivative transactions can be
substantial.
Underlying funds may invest in ‘alternative investments’. Alternative
investments is a category that includes a range of sophisticated investments
including hedge funds, venture capital, private equity, leveraged and
management buyouts, commodities and futures trading funds. Like shares,
property, fixed interest and cash, alternative investments are subject to
certain risks that may include periods of large market falls, high volatility
or reduced liquidity (ie the ability to sell investments immediately). Certain
alternative investments carry significant risk. In addition, losses may arise
due to other factors, including poor judgement, misconduct or fraud.
Some investment strategies are reliant on key individuals. Some alternative
investments may be based in countries where the level of regulatory
supervision is lower than in Australia.
There is always a risk of loss arising from the failure of a debtor or other
party to a contract to meet their obligations. This potentially arises with
various investments including derivatives and fixed interest and mortgage
securities.
This is the risk that an investment may not be easily converted into cash with
little or no loss of capital and minimum delay because of either not enough
buyers in the market for the particular investment or disruptions in the
marketplace. Securities in small companies in particular may, from time to
time and especially in falling markets, become less liquid.
Changes are frequently made to superannuation law, which may affect your
ability to access your investments. Changes can also occur in the taxation of
superannuation, which may affect the value of your investment.
Market risk
Currency risk
Interest rate risk
Derivatives and gearing risk
Alternative investments risk
Credit risk
Liquidity risk
Legal and regulatory risk
For more information on the investment strategy and investment objectives for the Fund, please go visit bt.com.au or call BT Customer
Relations on 132 135, Monday to Friday 8.00 am to 6.30 pm (Sydney time).
16
BT Lifetime Super – Employer Plan
Investments exceeding 5%
The following investment options have a holding of 5% or more in any one asset and the details of that holding
at 30 June 2015 are shown below. Investment options that do not have holdings exceeding 5% are not shown.
Investment Option
Aberdeen Australian
Small Companies
Aberdeen Emerging
Opportunities Fund
AMP Capital Investors
Listed Property
BT Australasian Bond
BT Australian Share
BT Balanced Returns
BT Cash
Annual Report 2015
Direct Asset
Technology One Ltd
Invocare Ltd
ARB Corp Ltd
Spark New Zealand Ltd
BWP Trust
Brickworks Ltd
Cabcharge Australia Ltd
Shopping Centres Australasia
Aberdeen Global Indian Equity Fund
%
6.11
5.88
5.61
5.60
5.46
5.45
5.07
5.04
15.29
Scentre Group
Westfield Corp
Goodman Group
Mirvac Group
Stockland
Federation Centres
BT Australasian Bond Fund
BT Australian Share Fund
19.61
15.80
11.44
10.36
10.30
5.15
100
100
BT Institutional Conservative Growth
(Equity) Interfund
BT Total Return Fund
BT Government Bond Fund
BT Institutional International Share
Interfund
BT Wholesale Enhanced Credit Fund
BT Institutional Enhanced Global
Fixed Interest Fund
BT Institutional Enhanced Property
Securities Fund
BT Stable Cash Plus Fund
Indirect Asset
%
Westpac Australian Bond Fund
Westpac Banking Corporation
Telstra Corporation Limited
BT Institutional Smaller Companies
Sector Trust
ANZ Banking Group Limited
Commonwealth Bank of Australia
Limited
100
9.33
8.91
8.48
NAB 90 Days 11am
ME Bank 90 Days 11am +85bps
Bendigo and Adelaide Bank Ltd
NCD 28/08/2015 (+46) 2.76%
Deutsche Bank AG Sydney
NCD 11/09/2015 2.71%
Suncorp Metway Limited NCD
2/11/2015 (+25) 2.50%
Suncorp Metway Limited NCD
3/09/2015 (+35) 2.65%
ANZ NCD 22/10/2015 2.31%
Commonwealth Bank Aust
NCD 10/12/2015 2.255%
11.50
11.50
10.45
7.82
7.14
32.63
14.41
12.86
12.33
6.64
5.89
5.06
100
9.79
8.13
7.67
5.70
5.68
17
Investments exceeding 5% – Con’t 
Investment Option
BT Conservative
Outlook
%
99.95
BT Ethical Share
BT Ethical Share Fund
99.19
BT Future Goals
BT Future Goals Fund
100
BT Global Bond
BT Global Bond Fund
100
BT Global Property
BT Institutional Global Property
Sector Trust
BT International Fund
Advance Australian Shares MB Fund
100
Advance Balanced MB Fund
100
Advance Defensive MB Fund
100
BT International Share
BT Multi-manager
Australian Share
BT Multi-manager
Balanced
BT Multi-manager
Conservative
BT Multi-manager Fixed
Interest
BT Multi-manager
Growth
BT Multi-manager High
Growth
BT Multi-manager
International Share
BT MySuper 1940s
Lifestage
18
Direct Asset
BT Institutional Stable Growth PST
Indirect Asset
BT Government Bond Fund
BT Institutional Core Australian
Share Sector Trust
BT Total Return Fund
BT Wholesale Enhanced Credit Fund
BT Institutional Hedged Global Bond
Fund
BT Institutional Liquidity
Management Trust
BT Institutional Enhanced Global
Fixed Interest Fund
BT Institutional International Share
Interfund
Westpac Banking Corporation
Telstra Corporation Limited
ANZ Banking Group Limited
Commonwealth Bank of Australia
Limited
BT Institutional Core Australian
Share Sector Trust
BT Institutional International Share
Interfund
BT Total Return Fund
BT Institutional Hedged Global Bond
Fund
T 0.50% 30APR17
JGB 1.40% 20JUN19
T 2.37% 31MAY18
%
21.79
14.83
13.05
11.29
10.17
7.17
7.05
5.62
9.21
8.78
7.71
7.00
47.52
19.35
7.27
6.59
8.37
6.09
5.71
99.86
100
Advance Australian Fixed Interest MB 60.00
Fund
Advance International Fixed Interest
40.00
MB Fund
Advance Growth MB Fund
100
Advance High Growth MB Fund
100
BT Institutional Core Institutional
Equity
Schroders Global Dynamic
BT Partner International Core
BT Partner International Growth
BT Partner International Shares Value
1940’s Lifestage Fund - A
20.72
19.25
19.17
12.67
8.50
100
BT Multi-manager Protector
93
BT Multi-manager Accumulator Fund 7
BT Lifetime Super – Employer Plan
Investment Option
BT MySuper 1950s
Lifestage
Direct Asset
1950’s Lifestage Fund - A
%
100
BT MySuper 1960s
Lifestage
1960’s Lifestage Fund - A
100
BT MySuper 1970s
Lifestage
1970’s Lifestage Fund - A
100
BT MySuper 1980s
Lifestage
1980’s Lifestage Fund - A
100
BT MySuper 1990s
Lifestage
1990’s Lifestage Fund - A
100
BT MySuper 2000s
Lifestage
2000’s Lifestage Fund - A
100
BT Partner Australian
Shares Core 1
BT Partner Australian
Shares Growth 1
BT Partner Australian
Shares Value 1
BT Partner International
Shares Core 1
BT Partner International
Shares Growth 1
BT Partner International
Shares Value 1
BT Property Securities
BT Wholesale Partner Australian
Shares Core
BT Wholesale Partner Australian
Shares Growth
BT Wholesale Partner Australian
Shares Value
BT Wholesale Partner International
Shares Core
BT Wholesale Partner International
Shares Growth
BT Wholesale Partner International
Shares Value
BT Property Securities Fund
100
Colonial First State
Australian Share Fund1
Commonwealth Bank of Australia
Westpac Banking Corp
BHP Billiton Limited
CSL Ltd
Westpac Banking Corp
Commonwealth Bank of Australia
National Australia Bank Ltd
Wesfarmers Ltd
Commonwealth Bank of Australia
Australia & NZ Banking Group Ltd
Suncorp Group Ltd
10.97
7.71
7.25
5.27
8.15
7.94
6.88
5.55
11.60
8.10
5.40
Colonial First State
Wholesale Geared
Share Fund
Fidelity Australian
Equities Fund
Indirect Asset
BT Multi-manager Protector
BT Multi-manager Accumulator Fund
BT Multi-manager Accumulator
Fund
BT Multi-manager Protector
BT Multi-manager Accumulator
Fund
BT Multi-manager Protector
BT Multi-manager Accumulator
Fund
BT Multi-manager Protector
BT Multi-manager Accumulator
Fund
BT Multi-manager Protector
BT Multi-manager Accumulator
Fund
BT Multi-manager Protector
%
62
38
64
Scentre Group
Westfield Corporation
Stockland Trust Group
Goodman Group
Federation Centres
Mirvac Group
GPT Group
Dexus Property Group
18.66
17.62
10.20
10.08
9.94
7.12
6.02
5.07
36
84
16
90
10
91
9
86
14
100
100
100
100
100
100
1 The underlying fund is the Colonial First State Wholesale Imputation Fund.
Annual Report 2015
19
- Con’t 
Investments
exceeding 5% – Con’t 
Investment Option
Investors Mutual
Australian Share
Direct Asset
Commonwealth Bank of Australia
Westpac Banking Corp
Telstra Corporation Ltd
CSL Ltd
Macquarie Conservative Macquarie Core Plus Australian Fixed
Interest Fund
Macquarie Global Multi Sector Fixed
Income Fund
Macquarie Multi Asset Opportunities
Fund
Macquarie Global Income
Opportunities Fund
Macquarie Active Plus Equities Fund
Macquarie Global Listed
Infrastructure Fund
Macquarie International Equities Fund
Delaware Emerging Markets Fund
Macquarie Diversified
Queensland Treasury Corporation
Fixed Interest
Westpac Banking Corp
OnePath Blue Chip
National Australia Bank Ltd
Imputation
Westpac Banking Corp
Telstra Corporation Ltd
Wesfarmers Ltd
Australia & NZ Banking Group Ltd
Commonwealth Bank of Australia
BHP Billiton Limited
Origin Energy Ltd
AGL Energy Ltd
AMP Ltd
Primary Health Care Ltd
Vanguard Australian
Commonwealth Bank of Australia
Shares Index Fund
Westpac Banking Corp
Australia & NZ Banking Group Ltd
National Australia Bank Ltd
BHP Billiton Limited
Telstra Corporation Ltd
Vanguard Growth Index Vanguard Australian Shares Index Fund
Fund
Vanguard International Shares Index
Fund
Vanguard Australian Fixed Interest
Index Fund
Vanguard International Fixed Interest
Index Fund (Hedged)
Vanguard International Credit
Securities Index Fund (Hedged)
Westpac Balanced
BT Institutional Enhanced Australian
Shares Fund
BT Institutional Global Share Fund
BT Total Return Fund
BT Enhanced Fixed Interest Sector Trust
BT Institutional Enhanced Global
Fixed Interest Fund
BT Institutional Enhanced Property
Securities Fund
20
%
7.33
6.97
6.13
5.42
21.51
Indirect Asset
%
17.31
11.94
11.01
10.38
9.66
7.08
6.06
6.87
5.83
11.71
9.76
7.97
7.89
6.86
6.48
6.05
5.72
5.62
5.27
5.07
9.80
7.10
6.30
6.16
6.14
5.31
30.60
23.90
12.20
11.50
6.80
34.31
19.35
14.49
14.55
7.20
7.33
BT Lifetime Super – Employer Plan
Other important
information
Who is responsible for BT Lifetime
Super – Employer Plan?
BT Lifetime Super – Employer Plan forms part
of the Retirement Wrap super fund (‘Fund’)
ABN 39 827 542 991 and is issued by BT Funds
Management Limited ABN 63 002 916 458
AFSL 233724 (‘BTFM’, ‘Trustee’, ‘we’, ‘our’ or ‘us’)
which is a member of the Westpac Group. The
Superannuation Product Identification Number for
BT Lifetime Super – Employer Plan is BTA0136AU.
To help you receive competitive rates and terms
and conditions, we provide insurance through a
group policy with an external insurer. The cover
under this group policy (‘the Policy’) is provided
by AIA Australia Limited, trading as AIA Australia
ABN 79 004 837 861, AFSL 230043 (‘Insurer’). The
Insurer is located at 549 St Kilda Road, Melbourne,
Australia, 3004. Phone: 1800 333 613.
If your employer has appointed another insurer,
refer to the Additional Information Booklet Part 3 –
Insurance provided when you join BT Lifetime Super
– Employer Plan for the details of your plan’s insurer.
Within this Annual Report, ‘Plan’ means BT Lifetime
Super – Employer Plan. The Plan is part of the
Employer Division of the Fund, and is a resident
regulated superannuation fund within the meaning
of the Superannuation Industry (Supervision) Act
1993 (‘SIS’).
Your rights in relation to the Fund and BT Lifetime
Super – Employer Plan are governed by the Trust
Deed, (which overrides any provisions in the PDS)
the Superannuation Industry (Supervision) Act
1993, the Corporations Act 2001, related legislation
governing super and the general law.
Policy Committee procedures for your
superannuation plan
Under superannuation law, your employer must
establish a policy committee if your employer’s plan
has 50 members or more. The policy committee
will serve as an avenue for you to ask the Trustee
for specific information and lodge complaints or
enquiries about the operation or management
of your employer’s plan. Information about how
to establish a policy committee will be sent to
your employer if your employer’s plan has 50 or
more members.
Annual Report 2015
If your employer’s plan has between 5 and 49
members, a Policy Committee must be established
if at least five members make a written request to
do so.
When you change jobs
When we are told that you have left the employer
who established your plan, subject to your balance,
you (and your spouse, if applicable) will automatically
become ‘personal members’ within BT Lifetime
Super – Employer Plan. This allows you to maintain
many of the benefits you enjoyed as a member
of BT Lifetime Super – Employer Plan with your
former employer.
By becoming a personal member in BT Lifetime
Super – Employer Plan, you keep:
`` the same member number;
`` your existing Investment Option(s);
`` your existing type and level of insurance cover1;
`` your nominated beneficiaries;
`` your existing PIN and Password.
You will also continue to access many of the other
features and benefits you already enjoy.
Personal members receive a competitive fee
structure, as detailed in the BT Lifetime Super –
Employer Plan Additional Information Booklet. The
fees you receive as a personal member may differ
from the fees that applied while you were a member
of your employer’s plan.
Note: If your former employer nominated a Financial
Adviser for their plan, this Financial Adviser will
continue to be appointed to your account once
you become a personal member, unless you notify
us otherwise.
If your balance is less than $500, we will write to
you requesting that you either increase your balance
above $500 to automatically become a personal
member or nominate an alternate super fund for the
transfer of your balance. If, after 45 days from when
we send you this information, your balance remains
below $500 and you have not provided transfer
instructions for your super balance, you will be
transferred to our eligible rollover fund.
1 If you become a personal member, your existing type and
level of insurance will only be maintained if your former
employer nominated AIA Australia Limited as the insurance
provider for their plan. Please refer to the relevant Additional
Information Booklet for your employer plan for details of the
insurance provider nominated by your employer.
21
Other important
information – Con’t 
The Trustee may vary any minimum transfer amount
at any time and may do this for individual members
or groups of members at its discretion (with or
without notice).
Indemnity
You release and indemnify us and any other
member of Westpac Group severally from and
against all liability which may be suffered by you
or brought against us or any other member of the
Westpac Group in respect of:
`` any act or omission of your authorised
representative, whether authorised by you or
not; and
`` your use, or purported use, of BT Link or
BT Online.
The Trustee Minimum Death Benefit
This is a product feature offered to accounts held
for more than five years, protecting your dependants
against long periods of poor or negative fund
performance. Your dependants/estate will receive
a minimum benefit on your death. The benefit will
be the value of your investment, but will be no less
than, if you have been an investor for more than
five years in the Plan, the difference between the
aggregated amount invested and the aggregated
withdrawal price of all units withdrawn prior to death
multiplied by 1.025; and if you have been an investor
for more than 10 years in the Plan, the difference
between the aggregated amount invested and the
aggregated withdrawal price of all units withdrawn
prior to death multiplied by 1.05.
Please note that the Minimum Death Benefit
excludes any risk insurance benefit which may also
be payable upon death. Please note that this benefit
is not available for members joining the Plan on and
from 16 March 2010 as this benefit was removed for
new members only from that date.
22
Temporary residents
A temporary resident is a holder of a temporary visa
under the Migration Act 1958.
From 1 April 2009, if you are, or were, a temporary
resident and are not an Australian citizen, New
Zealand citizen or permanent resident of Australia, or
a holder of a retirement visa (Subclass 405 or 410),
you can generally only access your preserved super
benefits if you become permanently incapacitated,
have a terminal medical condition, or have departed
Australia permanently and your visa has ceased, or
your beneficiaries may access your benefits if you
die. You may also be able to access your benefit
if you satisfied another condition of release under
superannuation law before 1 April 2009.
The Australian Government also requires us to pay
temporary residents’ unclaimed super to the ATO after
at least six months have passed since the later of:
`` the date a temporary resident’s visa ceased to be
in effect; and
`` the date a temporary resident permanently left
Australia.
Applications to claim your benefit can be made using
the ATO Departing Australia Superannuation Payment
(‘DASP’) online application system. To access
this system and full information regarding DASP
procedures and current tax rates visit ato.gov.au.
We are permitted under, and rely on, ASIC relief
under Class Order CO 09/437 to not notify or
provide an exit statement to a non-resident
in circumstances where we pay unclaimed
superannuation to the ATO under Division 3 of Part
3A of the Superannuation (Unclaimed Money and
Lost Members) Act 1999.
Non-residents have the right to make an application
to the Commissioner of Taxation to claim unclaimed
superannuation under Division 4 of Part 3A of
the Superannuation (Unclaimed Money and Lost
Members) Act 1999.
BT Lifetime Super – Employer Plan
Eligible Rollover Fund
Complaints resolution
Your benefits may be transferred to an ERF if:
If you have a concern or complaint about the
operation or management of BT Lifetime Super
– Employer Plan, please contact BT Customer
Relations on 132 135. If your concerns cannot
be resolved over the phone, you can write to our
Complaints Officer at:
`` your payment instructions are not accepted
by your nominated rollover institution and/or in
circumstances discussed in ‘Cooling-off period’
`` we are unable to contact you (e.g. no address
on our records or letters are returned to us
unclaimed)
`` contributions cease to be made on your behalf
to the Fund we cannot process your request
to transfer your benefit to another fund due to
insufficient information, or the other fund returns
the money to us because they have been unable
to process the request
`` you (and your spouse, if they are a spouse
member) cease to be an employee of the
employer who established your BT Super
account and your balance is less than $500, and
`` in any other circumstances we consider
appropriate.
Complaints Officer
BT Financial Group
GPO Box 2675
Sydney NSW 2001
We will endeavour to resolve your complaint within
30 days of receiving your written correspondence,
and we are required by law to deal with your
complaint within 90 days.
However, if you are not satisfied with the response,
or have not received one within 90 days, you may
contact the Superannuation Complaints Tribunal
(the Tribunal) by calling 1300 884 114 or writing to
Locked Bag 3060, Melbourne VIC 3001.
Once your benefit has been transferred to the ERF
we have nominated:
The Tribunal is an independent body established
by the Government to help retail members of super
funds resolve complaints.
`` your membership in the Fund and any insurance
will cease
Superannuation Contributions
Surcharge
`` you will need to apply directly to the ERF for
access to your benefits
`` you will not be able to make contributions to the
ERF
`` you will not have any investment choice and the
Trustee of the ERF will nominate the investment
strategy, and
`` the ERF will normally ensure your benefit will not
be eroded by fees and charges. Please refer to
the ERF’s disclosure document for more details.
The contact details for the ERF are:
SuperTrace Administration
SuperTrace Eligible Rollover Fund
Locked Bag 5429, Parramatta NSW 2124
Telephone: 1300 788 750
Annual Report 2015
If you are liable for superannuation contribution
surcharge the amount will be deducted from
your account.
Indemnity insurance
The Trustee is indemnified by a policy of insurance in
respect of its duties as Trustee of the Fund.
Reserves
The Fund allows for a reserve account to be set up
in respect of each super plan. If your employer plan
has a reserve account, details of the movements in
your plan’s reserve account and it’s management
strategy will be disclosed to you on your Annual
Super Statement.
23
Other
important
- Con’t 
information – Con’t 
Financial information
As permitted under the Corporations Act, audited
fund accounts and the auditor’s report have not
been included with this Annual Report. Copies
of complete audited financial statements and the
auditor’s report will be available from
BT Funds Management Limited
Level 20, 275 Kent Street
Sydney NSW 2000
or by calling BT Customer Relations on 132 135.
Committees
The Board delegated committees are:
`` Board Audit, Risk and Compliance Committee;
`` Board Investment Committee;
Further information
You are welcome to call us at any time if you have
any questions regarding this report or require further
information about BT Lifetime Super – Employer
Plan. Details of how we can be contacted are on the
back cover.
24
BT Lifetime Super – Employer Plan
Financial information
BT Lifetime Super – Employer Plan
Statement of net assets
as at 30 June 2015
As at
30 June 2015
$’000
Assets
Investments
Cash and cash equivalents
Margin accounts
Derivatives
Unlisted unit trusts
Life policies
Other assets
Receivables
Deferred tax asset
Total assets
Liabilities
Margin accounts
Payables
Derivatives liabilities
Income tax payable
Deferred tax liability
Total liabilities
Net assets available to pay benefits
30 June 2014
$’000
167,509
5,894
299
5,503,065
5,676,767
144,948
5,195
632
4,872,083
5,022,858
184,426
184,426
134,573
134,573
5,861,193
5,157,431
3,428
19,553
28,072
37,327
88,380
2,437
18,525
100
27,551
7,421
56,034
5,772,813
5,101,397
This annual report contains unaudited abridged financial information for the financial year ended 30 June 2015 in relation to
BT Lifetime Super - Employer Plan as part of Retirement Wrap (Fund). The full Retirement Wrap’s audited financial statements and
auditor’s report are available on request by contacting 132 135.
Annual Report 2015
25
- Con’t 
Financial
information – Con’t 
BT Lifetime Super – Employer Plan
Statement of changes in net assets
for the year ended 30 June 2015
Year ended
30 June 2015
$’000
Net assets available to pay benefits at the beginning of the year
30 June 2014
$’000
5,101,397
4,106,469
826
214,390
227,481
174
442,871
701
141,381
329,102
156
471,340
30,842
666,522
339,798
1,037,162
20,382
589,636
619,907
1,229,925
25,217
27,388
52,605
19,021
28,096
47,117
624,092
530,401
51,580
1,383
75,581
13,868
142,412
48,001
1,486
68,044
5,216
122,747
Changes in net assets before income tax
766,134
1,095,234
Income tax expense/(benefit)
Changes in net assets after income tax
94,718
671,416
100,306
994,928
5,772,813
5,101,397
Investment income
Interest income
Distributions income
Changes in the net market value of investments
Other investment income
Contributions revenue
Members' contributions
Employers' contributions
Transfer from other funds
Other revenue
Proceeds from insurance policies
Other revenue
Benefits paid
General administration expenses
Trustee's fees
Adviser fees
Insurance premiums
Other expenses
Net assets available to pay benefits at the end of the year
This annual report contains unaudited abridged financial information for the financial year ended 30 June 2015 in relation to
BT Lifetime Super - Employer Plan as part of Retirement Wrap (Fund). The full Retirement Wrap’s audited financial statements and
auditor’s report are available on request by contacting 132 135.
26
BT Lifetime Super – Employer Plan
For more information
132 135
Monday to Friday
8.00am to 6.30pm (Sydney time)
bt.com.au
BT Lifetime Super – Employer Plan
GPO Box 2919
Adelaide SA 5001
BTx1453A-1215px
BT Lifetime
Super –
Employer Plan
SIMS Group Defined Benefit Account
– Part 2
Annual Report
for the year ended 30 June 2015
This Annual Report has two parts:
�Part 1 – BT Lifetime Super –
Employer Plan Annual Report
30 June 2015
�Part 2 – SIMS Group Defined
Benefit Annual Report
30 June 2015
Members should read both parts.
BT Funds Management Limited
ABN 63 002 916 458
AFSL 233724
Westpac Banking Corporation
ABN 33 007 457 141
Table of contents
Investment information
1
Financial position of the Fund and
other information
2
About this Annual Report
BT Funds Management Limited ABN 63 002 916 458, AFSL No. 233724 (‘Trustee’, ‘we’, ‘our’ or ‘us’) is the Trustee of Retirement Wrap
(‘Fund’) and has prepared this document.
BT Lifetime Super – Employer Plan (‘Plan’) is part of the Employer Division of the Fund, which is a resident regulated superannuation fund
within the meaning of the Superannuation Industry (Supervision) Act 1993 (‘SIS’). The Fund is not subject to a direction from the regulator
not to accept employer contributions under section 63 of SIS. The ABN for the Plan is 39 827 542 991 (RSE R1001327).
Within this report ‘BT Super’ or ‘Plan’ means BT Lifetime Super – Employer Plan.
BT Funds Management Limited is a member of the Westpac Group. An investment in BT Super is not an investment in, deposit with or
any other liability of Westpac Banking Corporation ABN 33 007 457 141 (the Bank) or any other company in the Westpac Group. It is
subject to investment risk, including possible delays in repayment of withdrawal proceeds and loss of income and principal invested. The
Bank and its related entities do not stand behind or otherwise guarantees the capital value or investment performance of any investment
option offered through BT Super.
The investment manager for the BT investment options is BT Investment Management (Institutional) Limited ABN 17 126 390 627, AFSL
316455 and for the BT Multi-manager investment options, the investment manager is Advance Asset Management Limited ABN 98 002
538 329, AFSL 240902. The Trustee may use other investment managers from time to time which are detailed within relevant disclosure
material.
The taxation position described is a general statement and should only be used as a guide. It does not constitute tax advice and is based
on current tax laws and our interpretation. Your individual situation may differ and you should seek independent professional tax advice.
Past performance is not a reliable indicator of future performance. This Annual Report provides an overview or summary only and it should
not be considered a comprehensive statement on any matter or relied upon as such. This information has been prepared without taking
account of your objectives, financial situation or needs. Because of this you should, before acting on this information, consider its
appropriateness, having regard to your objectives, financial situation and needs. BT Funds Management Limited’s Financial Services
Guide can be obtained by calling 132 135, or visiting bt.com.au.
The Annual Report was prepared on 30 November 2015
Investment information
Investment Policy
Prior to 24 June 2015, the Trustee invested
assets backing the defined benefit liabilities in the
BT Multi-manager Balanced investment option.
During the year, the Trustee, in consultation with the
Plan Actuary and your employer, decided to invest
these assets in the BT Multi-manager Conservative
investment option. This decision takes into account
the nature of the defined benefit liabilities and
recognises the ability of your employer to fund any
short-term deficiencies created by fluctuations in
asset values of growth sectors.
The transfer from the BT Multi-manager Balanced
investment option to the BT Multi-manager
Conservative investment option occurred effective
24 June 2015.
Investment returns
Net earning rate for the year to 30 June 2015
Plan crediting rate for the year to 30 June 2015
% pa
4.97
5.68
Net Earning Rate
The net earning rate is calculated as the percentage
change in unit price from the start to the end of
the year.
Please note benefits paid to defined benefit
members within 30 days of the date of exit will not
have a crediting rate applied. Furthermore there is
no change to the crediting rate applied to surcharge
accounts.
Investment strategy and investment
objectives
For more information on the investment strategy
and investment objectives for BT Lifetime Super
– Employer Plan, please refer to the Product
Disclosure Statement (PDS) at bt.com.au or call
BT Customer Relations on 132 135, Monday to
Friday 8.00 am to 6.30 pm (Sydney time).
Performance as at 30 June 2015
For actual performance of your account in
BT Lifetime Super – Employer Plan, for the year
ended 30 June 2015, please refer to your Annual
Statement which was issued to you in August 2015.
For more recent performance information, you
may access this at our website at bt.com.au or call
BT Customer Relations.
Crediting Rate
The crediting rate is calculated by the Actuary and
can vary from the net earning rate as a result of the
effect of cash flow and other factors.
Change to Crediting Rate for Delayed
Benefit Payments
Effective from 27 August 2010, the Trustee has
changed the crediting rate methodology for
‘delayed’ benefit payments to defined benefit
members ie where there is a delay of more than
30 days between the exit date of the member
and the date that the member’s exit benefit is
actually paid.
The Trustee will apply a crediting rate to the benefit
calculated as the most recent one year return
available for the BT Cash investment option within
the plan applied from the member exit date until the
benefit is actually paid.
SIMS Group – Annual Report 2015
1
Financial Position of the Fund
and other information
Financial Position and Employer
Contribution Level
Your defined benefit in BT Super is calculated using
the formula set out in your annual statement. In
order to fund your defined benefit, your employer,
which is part of the SIMS group of companies
(SIMS), makes contributions to the defined benefit
section of its sub-plan in BT Super. The amount your
employer contributes is agreed between the Trustee
and SIMS after considering advice from an Actuary.
The Trustee has appointed an Actuary to advise
the Trustee on the level of employer contributions
required to ensure there are sufficient assets in the
sub-plan to pay members’ defined benefits when
they fall due.
During the period, SIMS contributed at the required
rates, and the sub-plan remains in a satisfactory
financial position. The final Vested Benefit Index at
30 June 2015 was 125.80%.
Notional Taxed Contributions
Since 1 July 2007, limits or ‘caps’ apply to
the amount a person is able to contribute to
superannuation each year on a concessionally
taxed basis. Additional tax applies to contributions
in excess of the relevant cap. Contributions made to
superannuation by you or on your behalf may count
towards either your concessional contributions cap
or your non-concessional contributions cap.
Concessional contributions cap
Contributions which count towards an individual’s
concessional contributions cap include compulsory
employer contributions such as Superannuation
Guarantee and Award contributions, salary sacrifice
contributions (pre-tax) and additional employer
contributions.
As the Plan is considered a defined benefit fund,
special rules apply to your employer contributions
made in respect of your defined benefit. As
employer contributions to a defined benefit fund are
pooled and are not directly allocated to you, your
employer contributions are determined based on a
formula defined in legislation. The amount calculated
is referred to as your Notional Taxed Contributions
(NTC) and counts towards your concessional
contribution cap.
2
You will be liable for the payment of any additional
tax. You should note that any excess concessional
contributions will also count towards your nonconcessional contributions cap.
For more information about contributions caps
and excess contributions tax refer to the BT Lifetime
Super Employer Plan Annual Report for the year
ended 30 June 2014 – Part 1 on our website
at bt.com.au.
Transitional arrangements for
defined benefit funds
A transitional arrangement exists for those
individuals that were members of a defined benefit
fund on 5 September 2006. Note that these
transitional rules may cease to apply if the Fund
makes changes to its rules.
Under the transitional arrangements, if the value
of your NTC is calculated to be greater than your
concessional contributions cap amount, and
you were a member of a defined benefit fund on
5 September 2006, then the amount of your NTC
will be deemed to be equal to your concessional
cap amount. That is your NTC alone will not cause
you to breach your concessional contributions cap.
Your estimated NTC for the year
ending 30 June 2016
Each year, the Plan will notify you of your estimated
NTC (in advance for the year ahead) on your annual
statement, so that you can determine your capacity
to make any additional concessional contributions
(such as salary sacrifice contributions).
Information that may change
Where changes to information occur that do not
adversely affect you, you may be informed in the
next Annual Report for the Fund.
Such information includes, but is not limited to,
changes in:
`` investment managers;
`` the underlying insurer;
`` the Investment Option (closing or terminating);
`` fees.
Where required by law, written notification will be
provided giving 30 days notice of the changes.
BT Lifetime Super – Employer Plan
Indemnity Insurance
The Trustee is indemnified by a policy of insurance in
respect of its duties as Trustee of the Plan.
Fund Reserves
The Fund allows for a reserve account to be set up
in respect of each super plan. The reserve account
may contain money that your employer pays to the
plan in respect of your insurance premiums, fees,
contributions or other amounts. If your plan has a
reserve account, details of the movements in your
plan’s reserve and its management strategy will be
communicated to you.
Superannuation Surcharge
The superannuation surcharge, including the
termination payments surcharge, has been
abolished for contributions and termination
payments made or received on or after 1 July 2005.
The superannuation surcharge may still apply for
contributions and termination payments made prior
to 1 July 2005.
SIMS Group – Annual Report 2015
3
For more information
132 135
Monday to Friday
8.00am to 6.30pm (Sydney time)
bt.com.au
Our registered address is:
Level 20, Westpac Place
275 Kent Street
Sydney NSW 2000
BTx1448-1215px