If you’ve changed jobs at some point in your career, chances are you have more than one super account. This could mean you’re paying multiple fees.
When you combine all your super, you can keep track of your balance more easily, have less admin – and potentially more money when you retire.
Any insurance cover in your other super accounts will be cancelled, so make sure you have appropriate insurance cover established in your chosen super fund. It’s also important to be aware of impacts this may have on the fees you pay, and tax on your super. If you’re unsure, seek financial advice.
If you were intending to claim a tax deduction for personal contributions made to your other fund, you will need to ensure your ‘Notice of intent to claim a deduction for personal contributions’ is made and acknowledged by that fund before you combine your super.
We make it easy to bring all your super accounts together, online. This tutorial shows you how.
This information has been prepared by NULIS Nominees Australia Limited ('NULIS') ABN 80 008 515 633 AFSL 236465. The information on this web page is of a general nature only and has been prepared without taking into account your objectives, financial circumstances or needs. Before acting on any of this information, you should consider whether it is appropriate to your objectives, financial circumstances and needs, and seek appropriate professional advice. You should not rely on this information to determine your personal tax obligations, please consult a registered tax agent for this purpose.