Prepare for year end

Be better prepared for 30 June with our End of Financial Year checklist and maximise your tax time benefits.

Learn how to make additional contributions to your Panorama Investments and Panorama Super account.

Learn important dates for statements and answers to other frequently asked questions.

With the end of financial year fast approaching, there are a few things you need to be aware of relating to your pension payments.

Funding your pension payments

Pension payments are funded by the available cash in your BT Panorama transaction account. If there’s insufficient cash to cover your pension payment, we’ll make up the shortfall by selling down a proportion of your investments.

Potential delays in July

If we need to sell some of your investments to cover your pension payment, the process can take longer in July.

During the EOFY period, there can be delays in the striking of unit prices, in distribution and dividend payments, and in asset redemptions, which can impact your cash balance.

The combination of these factors can cause pension payments to be delayed.

Avoid any delays

We recommend you check the amount of available cash in your transaction account, to ensure it can cover your July pension payment. To check, log into your BT Panorama account.

If you don’t have sufficient funds, you should consider selling down investments to generate the required cash.

The pension review period and minimum pension drawdown rates

At the start of each financial year, the annual pension calculation takes place. This is generally completed by 10 July. The balance of the member’s account on 1 July is reported and a freeze is placed on processing annual pension payments. During this period, one-off pension payments and/or lump sum withdrawals cannot be made via the Panorama website. One-off pension Payments can be processed manually by contacting our Customer Relations team.

Please be aware that during the freeze period, processes such as account closures, rollovers out, pension resets, change of phase and transfers between Panorama accounts are unable to be processed.

You can discuss this information further with your adviser (if you have one) or email us at support@panorama.com.au or phone 1300 881 716 from 8:30am to 6:30pm (Sydney time) Monday to Friday. 

From 1 July to 4 July 2024, some processes cannot be completed for accumulation accounts, this includes account closures, change of phase and transfers between Panorama accounts. 

For transactions to be reflected within the FY 2024 year end statements, we must receive the valid request and all required supporting documentation before the cut-off times shown in the tables on this page. The cut-off times are Australian Eastern Standard Time (AEST) and need to be adjusted if you are operating in a different time zone.

Contributions

Transaction	Action required	Cut-off time and date (AEST)
BPAY® contributions	Payment submitted from the contributing bank account	We must receive the payment by 5pm Tuesday 25 June 2024.
Cheque contributions	Cheques posted to GPO Box 2861 Adelaide SA 5001	Friday 28 June 2024 Note: All cheque contributions must be deposited to account by 28 June 5pm. Please take into consideration any potential postal times that may impact this cut-off. We cannot process any cheque contributions for this Financial Year if they are received after this cut off. Please note, from 1 July 2024, cheques will no longer be accepted.
Direct credit contributions	Payment submitted using direct credit to the transaction account.	We must receive the payment by 5pm Friday 28 June 2024. We recommend submitting by Tuesday 25 June 2024 before 5pm subject to issuing bank’s processing time.
Direct debit contributions	Transfer money via Panorama online from a linked account to the transaction account	We must receive the payment by 5pm Friday 28 June 2024. We recommend submitting by Tuesday 25 June 2024 before 5pm.

 

Payments out

Transaction	Cut-off time and date (AEST)
Super Payments out (partial payment, sufficient cash available)	Tuesday 25 June 2024 by 5pm
Super Payments out (closure / full payment of funds where there are no outstanding dividends/distributions)	Tuesday 11 June 2024 by 5pm

Other transactions

Transaction	Action required	Cut-off time and date (AEST)
New applications (including applications in-flight)	Terms and conditions must be accepted	Sunday 30 June 2024 by 11:59pm
Listed security transactions	Trades submitted and confirmed on the market via Panorama online or through an external broker	Wednesday 26 June 2024 by 5pm
Managed fund transactions	Orders submitted via Panorama online.	Thursday 27 June 2024 by 10am
Managed portfolio transactions	Orders submitted via Panorama online	Thursday 27 June 2024 by 10am