Benefits of consolidating superannuation Camschatfree

It could mean saving on account keeping fees and this can potentially make a significant difference to the value of your final super balance when you decide to retire.To consolidate super can also mean having only one set of fund statements to read, making it easier to keep on top of your superannuation and evaluate how it is performing.A financial adviser can discuss which super fund is most appropriate for you based on your personal situation and goals.

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According to recent research conducted for the Association of Superannuation Funds of Australia, the top reason people haven’t consolidated their accounts is because they just haven’t gotten around to it. Another reason people have multiple accounts is that they think it will be too hard or complicated to consolidate.

While in the past consolidating accounts involved filling in numerous forms, now all you need to do is use the my Gov website.

If you’ve had more than one job, chances are you also have more than one super account, especially if you have been happy to go with your employer’s default fund.

Moving all your super into one account (known as ‘consolidating your super’) might be able to help you save on fees and make managing your super easier.

You should contact your super fund to find out if there are any fees or costs for moving your super or other loss of benefits such as insurance cover.

It is important to find out if you can get the same level of insurance cover in your chosen super fund.

You just need to decide which super fund is the right one to switch to.

Find out more about how super works and how to build your super.

I used the my Gov website to find all seven of the super accounts I had.

I was pretty stoked to find out I had a couple of thousand dollars in super that I didn’t know about.

After comparing all the info on the different fund websites to see which of the super funds worked best for me, I used the my Gov website to move all my super into the one super account.

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