Could you have more than one super account?

Aug 18, 2022

If you haven’t paid much attention to your super, there’s a chance you may have accounts that you didn’t even know about. Having more than one account can mean paying more than one set of fees, which can impact your balance over the long run.

Watch the video from AustralianSuper below to find out how to take control of your super if you have more than one account.

Super Smart Tip: 

 

1. See if you have any lost super
It doesn’t hurt to check, make sure you know if you have multiple accounts. Visit the ATO.

2. Avoid paying multiple sets of fees for your super
By consolidating your super, you put all of it in one place and with one super fund. That means only a single set of fees.

3. Consider combining your accounts so that all your super is in the one place
Having your super in one account can make it easier to manage, and your super could benefit from compounding returns over the years.

Learn more about consolidating super here.

Before making a decision to combine your super, consider any fees or charges that may apply, and the effect a transfer may have on benefits in your other fund such as insurance cover. We recommend you consider seeking financial advice.

This information may be general financial advice which doesn’t take into account your personal objectives, financial situation or needs. Before making a decision about AustralianSuper, you should think about your financial requirements and refer to the relevant Product Disclosure Statement available at australiansuper.com/pds or by calling 1300 300 273. A Target Market Determination (TMD) is a document that outlines the target market a product has been designed for. Find the TMDs at australiansuper.com/tmd. 

 

Sponsored by AustralianSuper Pty Ltd, ABN 94 006 457 987, AFSL 233788, Trustee of AustralianSuper ABN 65 714 394 898.