Combining your super is super simple:
Got more than one super account?
Then you’re probably paying multiple sets of account fees. Combine your super into one account to save on fees and make managing your super simple.
Use our easy-to-use Find and Combine tool now. It will even search for any lost super you didn’t know about.
Why combine your super?
Paying multiple sets of fees can significantly reduce your overall super account balance. This means less for you when you retire.
Here’s an example. Sam has three super accounts and Charlie only has one. They both have an overall super balance of $150,000, but Sam is paying more fees for his three accounts. That means Charlie saves $307 dollars per year in fees by having his super in one place.
Data as at 30 June 2023 using SuperRatings Net Benefit Tool (accessed 25.09.23). Account 1 fees based on Spirit Super Balanced (MySuper) option as at 30.09.23. Account 2 fees are based on the median of all super funds. Account 3 fees are based on the Master Trust median. The Net Benefit Tool is based on actual figures over one year. Calculations are based the account balance growing each quarter, starting at $50,000.
Lost and ATO-held data as at 30 June 2020. Lost and unclaimed super, accessed 25 September 2023.
How do I combine?
Before you combine
Transferring super may close the account you’re transferring benefits from. There are some things to consider before combining super accounts.
- Fees and costs and investment returns — super funds vary in terms of fees costs and performance. This can affect your super balance at retirement.
- Insurance - combining super into a single account may close your other super accounts. Any insurance you have with those accounts will be cancelled. Contact your other funds to see what cover you have before combining. You may be able to transfer cover. If you want to transfer cover, contact us for more information.
- Tax implications - you can't claim tax deductions or split contributions on the money you transfer between super accounts, after the transfer occurs.
- Investments - all amounts transferred will be automatically invested in your current chosen future transaction investment strategy.
- Let your employer know - tell your employer that you're changing super funds before you combine your super. This will ensure they pay future contributions into the correct account. Future employer contributions will be made to your other fund unless you notify your employer otherwise.
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