Consolidate your super – it’s easy!
November 24th, 2014
Australians on average have three separate super funds – expensive and unproductive from an investment point of view.
The Australian Securities and Investment Commission (ASIC) says the benefits of putting several small super fund accounts into one account include saving costs by paying only one set of fees; reducing your paperwork; and making it easier to keep track of super. If you’re in a defined benefit fund, think very carefully and get advice before leaving.
Before you consolidate your super funds you should check if there are any termination fees; if you lose any insurance benefits; the fund you are consolidating into has all the services you want; and your employer can contribute to your chosen fund, ASIC says.
To transfer your accounts to one fund, call First Super now on 1300 360 988 and we can assist you over the phone. Alternatively, complete the transfer form; and send it back to:
First Super
Reply Paid 666,
Carlton South, VIC 3053.
Join other First Super members who have saved.