Super Consolidation: Who Qualifies and What You Get
Learn how to merge multiple superannuation accounts into one to reduce fees and simplify your retirement savings.
Super Consolidation allows you to merge multiple superannuation accounts into a single fund. This process, often called rolling over super, helps you manage your retirement savings more easily.
Who it's for
This is for anyone who has multiple superannuation accounts held in their name.
What you get
By merging your various accounts into one, you can reduce the total amount of fees you pay over time. It also makes it easier to track how much money you have saved for retirement.
What it costs you
There is no cost to use this service. You can complete the process through your myGov account.
The catch to know
When you merge accounts, you might lose any insurance cover that was attached to your older, smaller accounts. It is important to check if your chosen fund offers similar insurance before you move your money.
How to apply
- Log in to your myGov account.
- Navigate to the superannuation section.
- Follow the prompts to view and consolidate your accounts.
- Confirm the details of the fund you wish to keep.