Compare what each fund offers, then choose investment options to put their published costs and returns side by side.
Retail platform
BT offers Panorama Super and the self-directed BT Super Invest product. These are investment platforms with costs determined partly by what the member holds.
BT Super Invest is currently limited to existing Westpac customers aged at least 18 in Australia. Panorama has its own application arrangements.
Retail platform
Expand is a super and pension platform with Essential and Extra product tiers. Its value depends on the investment menu and services a member actually uses.
Use the Essential or Extra PDS and target market determination. The platform is commonly used with advice, and an application requires an investment choice; Essential allows a cash holding while a member decides on a longer-term strategy.
Choose the actual investment pathway for each account. For lifecycle products, select the named stage relevant to you. No stage is selected automatically.
The costs and returns belong to the selected product, option or lifecycle stage.
Source: APRA Comprehensive Product Performance Package 2026, published 28 August 2026. Fees reflect the reporting year to 30 June 2026, are net of tax, use standard arrangements and exclude member-activity fees. Dollar figures are rounded. They are not a current quote. Check the latest PDS for changes, insurance premiums and any separately charged advice.
Returns are annualised historical results. Different return bases, risk levels and periods cannot be treated as interchangeable. MySuper net returns use a $50,000 representative balance even when you change the fee balance. A lifecycle stage return does not track a person moving between stages. Missing figures mean not reported, not zero. Past returns do not predict future returns. Read our method and APRA's definitions.
| What to compare | BT | Expand |
|---|---|---|
| Membership and access | BT Super Invest is currently limited to existing Westpac customers aged at least 18 in Australia. Panorama has its own application arrangements. Sources123 | Use the Essential or Extra PDS and target market determination. The platform is commonly used with advice, and an application requires an investment choice; Essential allows a cash holding while a member decides on a longer-term strategy. Sources2 |
| Accounts and products | Panorama Super and BT Super Invest. Sources123 | Expand Essential and Extra in IOOF Portfolio Service Superannuation Fund; not MLC MasterKey. Expand Essential Super and Pension Expand Extra Super and Pension Retirement Boost Sources1234567 |
| Investment choices | Shares, ETFs, managed funds, managed portfolios and other permitted investments, depending on the selected product and menu. Sources123 | Member-selected investments; not a single platform-wide MySuper default. Essential combines a menu of managed funds and model portfolios with Essential+, which adds selected ETFs and term deposits. Extra offers a much broader selection of managed funds, model portfolios and listed investments. Investments across menus can carry different administration charges. Sources1234 |
| Insurance | Check the insurance offering in the precise platform PDS; it should not be inferred from a former BT employer account. Sources123 | Expand advertises group and retail insurance options. The policy, underwriting and cost depend on the cover arranged; the platform's investment features do not establish that a member is insured. Sources1 |
| Retirement income | Super and pension account types are available. Minimum transaction-account balances differ by account phase. Sources123 | Both tiers have pension products. Retirement Boost adds a separate lifetime-income proposition with its own eligibility and access rules. It should be compared with other lifetime products rather than treated as an ordinary account-based pension. Sources125 |
| Advice and support | Panorama supports adviser use; Super Invest is marketed to self-directed investors. Sources123 | An advised arrangement needs two assessments: whether the adviser service is useful and whether the platform is an appropriate way to implement it. Ask for the full ongoing cost and the consequences of ending the advice relationship. Sources1234567 |
| Fee details to check | Super Invest lists $540 a year plus a balance-based administration charge, then investment and transaction costs. Its quoted administration fee is not a total annual cost. Sources123 | Add platform administration, account charges, underlying investment fees, transaction or brokerage costs, insurance and any adviser fee. Essential+ has a higher administration rate on the first part of the balance than the ordinary Essential menu. A low fee quoted for one menu is not a price for every portfolio. Sources34 |
| Comparing investment performance | There is no single BT platform return. Compare the selected portfolio after platform, investment, transaction and advice costs. Sources123 | There is no single meaningful Expand investment return. Measure the chosen portfolio after all applicable costs. The performance test covers only eligible trustee-directed investments, so a result for one option does not describe every investment on the platform. State Essential versus Extra and the menu used. Keep option-specific performance-test outcomes attached to the relevant option IDs. Sources67 |
THE SUPERGURU VIEW
Most relevant when a person has a reason to use specific investments and will use the platform's extra control.
Based on the cited product features. These are general reasons to investigate the fund, not a personal recommendation. Supporting sources.
THE SUPERGURU VIEW
Expand makes most sense to investigate when a person needs its investment or retirement features and can explain why. A broad platform can be useful with a carefully chosen portfolio, but it also creates several layers of fees to compare. The product tier and menu selection should be visible in any price comparison.
Based on the cited product features. These are general reasons to investigate the fund, not a personal recommendation. Supporting sources.
Use the membership rules to establish which accounts are available to you. Then compare the total price of the investment option and cover you need. A lower fee or higher historical return alone does not tell you which fund is suitable.
Ask both funds to confirm insurance acceptance, exclusions, waiting periods and whether cover would change when you leave your employer. Obtain advice before giving up a defined benefit or an insurance policy you may not be able to replace. ASIC Moneysmart explains the comparison checks.
Read the full BT profile · Read the full Expand profile · Choose another comparison
Checked 2026-09-11. Documents and product terms can change after this date.
Checked 2026-09-11. Documents and product terms can change after this date.