Combine your super accounts and save
If you’ve changed jobs during your working life, it’s quite possible that you have more than one superannuation account. You might have super you don’t even know about.
With each fund charging its own fees, they could also be eating away at your hard-earned super.
How do I fix that?
The best way to avoid paying too much in fees is to find and consolidate all of your super into one account with competitive fees, such as a Statewide Super account. That way you can:
- Save money by only paying for one affordable super fund account
- Keep track of your retirement savings more easily
- Reduce the paperwork and statements you regularly receive from other funds
- Give your super a real boost!
Things to consider before you combine your super accounts
You should consider all relevant information before you make the decision to combine your super accounts. Things you should consider include:
- Fees – The fund that you wish to transfer money to may charge entry or deposit fees on transfer. Differences in fees that funds charge can have a significant impact on the super you will have to retire on. For example, a 1% increase in fees may significantly reduce your final benefit.
- Death and disability benefits – Your current fund may insure you against death, illness or an accident that leaves you unable to return to work. If you choose to leave your current fund, you may lose any insurance entitlements you have. Other funds may not offer insurance, or may require you to pass a medical examination before they cover you.
- Costs and cover - When considering a new fund, you should consider checking the costs and amount of any cover offered.
How do I combine my other super accounts into Statewide Super?
It’s easy to do this online. Just follow these easy steps and Statewide Super will do the rest.
- Login to your Statewide Super Online account
- Click on the ‘Consolidate’ tab in the top menu to get started!
If you have any queries, just give us a call on 1300 65 18 65.