Building your super balance
We're committed to helping Australians bridge their super gap to enjoy a better retirement.
One way we're doing this is by making it easier for our customers to find and consolidate their super into one account.
Do you have lost super?
Like many Australians, you may have lost track of your super or have multiple super accounts, which could mean you're paying multiple sets of account keeping fees and doing extra paperwork. In fact, six million Australians have lost super accounts worth over $17.5 billion dollars1 - a share of this could be yours. Consolidating your super accounts may help you improve your super balance and give you more visibility over your super.
Three great reasons to consolidate your super funds
- Reduce your paperwork and admin time
- Keep better track of your super by having it all in one place
- Pay only one set of fees
Before you decide to consolidate your super, there are a few things you should consider
Weigh up the benefits
and features of your other super funds against your chosen Plum Super account.
Check the tax implications and see if your tax and preservation components will be impacted. Speak to your financial adviser for further information.
Compare the fees
of your fund(s), and check for exit
or termination fees.
Don’t forget your insurance and make sure that your chosen Plum Super account will provide you with the appropriate cover to replace any cancellation of insurance cover2 that will occur by consolidating your account(s). If you suffer from a pre-existing medical condition, consider whether you will be eligible for the same level of cover if you cancel your existing insurance policy.
If you intend to claim a tax deduction for certain personal contributions made into your other fund, ensure your ‘Notice of intent to claim a deduction for personal contributions’ is made and is acknowledged by that fund.3
Are you ready to consolidate now?
If you are ready to consolidate your super into your Plum Super account login to your Plum online account using your user name and click ‘Find my super’ to give us your consent to find all your super.
If you would like further assistance
Call us on 1300 55 7586
Outside of Australia call +61 3 9222 4800
8am to 7pm AEST (8pm daylight savings time),
Monday to Friday or chat with us online.
Don't forget that you can take your super with you when you change your job and always keep your details up to date. If you're currently in the process of moving jobs and want to remain with your Plum Super account, make sure you fill in the Fund Nomination Form and give it to your employer so they can keep making contributions into your Plum super account.
Your super is one of your biggest investments so it's always good to keep an eye on it.
1 As at 30 June 2018, ATO super accounts data - https://www.ato.gov.au/About-ATO/Research-and-statistics/In-detail/Super-statistics/Super-accounts-data/Multiple-super-accounts-data/
2 Appropriate insurance can include level and types of cover as well as policy terms.
3 For more information about eligibility and/or to obtain this form please visit www.ato.gov.au.