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October 22, 2020
Consolidating your super can save you time and money. Consolidating your super means that rather than having multiple different accounts, all your super is in one account.
Why you should consolidate your super:
Before you consolidate your super:
Don’t simply choose the account with the highest balance. Rather, take into consideration the performance of that super fund, the fees you are required to pay, whether it is linked to any insurance and any other factors. Upon reviewing this, you may find that rather than choosing between your current super funds, starting with a completely new fund might be the best way to go.
How to consolidate to one of your current super funds:
Transferring to a new fund
In the case you decide that transferring to a new fund is the best option, you can consolidate either by contacting the new fund directly, or using an ATO rollover form.