

Are you sick of receiving multiple super statements each year and trying to keep track of all of your super accounts? Consolidate now to put an end to the scattered superfunds!
The benefits of consolidating:
- You only need to pay one set of fees
- The amount of paperwork is reduced
- You only need to check one account to keep track of your super, making it much easier!
If you are in a defined benefit fund, get advice and think carefully before leaving.
Before you move funds
Before moving any funds, you should make sure to check the following:
- Are there any cancellation/termination fees?
- Will you be able to get the same level of insurance in the fund you have chosen?
- Can your employer contribute to the chosen fund?
How to consolidate
- Choose one fund – Review your current super funds as well as other options to determine which is best for you. Don’t just choose the super fund with the highest balance as the best fund for you may be one with a smaller balance or even a new fund.
- Check your level of insurance – Make sure you get an appropriate insurance cover in your chosen fund.
- Open an account – If you decide that you are best to start a new super fund, you will need to open an account with the chosen fund. Make sure to get all details you need for your files and to provide to your employer.
- Advise your employer – Advise your employer of your chosen fund and ensure they have all the details they need to make payments.
- Rollover super to the fund you have chosen – This can be done online through myGov, or by using a form and sending it to your chosen fund. Speak to your chosen fund on what they recommend as some funds even have an online process for combining your super.
Consolidating your superfunds may take a little bit of time and research, but it will be worth it in the long run.
If you need help with your scattered superfunds, contact Acumon Financial Services today on 4931 1100.
This information is of a general and preliminary nature only and has been provided without taking full account of your objectives, financial situation or needs. For personalised advice, please book an appointment with Acumon Financial Services