Combine your super
If you've had more than one job, chances are you have more than one super fund. This can make your money hard to manage and more costly, with multiple fees for multiple accounts.
Benefits of combining your super
While there are several ways to boost your super, one of the easiest is to close your multiple super accounts and keep your super in one value for money fund, such as Mine Wealth + Wellbeing Super.
By not paying multiple fees to different funds, you’ll have more money to invest for your retirement. Having fewer funds also makes managing your super easier.
- Save time.
- Receive less paperwork.
- Reduce your chances of losing track of your super.
Combine your super now
Use our consolidation tool to combine your super into one Mine Wealth + Wellbeing Super account. If you have your Tax File Number handy, our consolidation tool will also find any lost super you may have. Usually your transfer will be complete within 30 days.
Things to consider
Before combining your super you should consider any differences in insurance between your old and new funds, if the cover through your Mine account is appropriate for your situation, any unique insurance offerings under your old funds and if they have exit fees.
If you have any questions please call us on 13 MINE (13 64 63), email firstname.lastname@example.org or contact your financial adviser. We can also put you in touch with Mine Wealth + Wellbeing Financial Advice to discuss your personal circumstances.
Example: While it may not seem like much, fees add up
Peter has three super funds. If Peter:
- leaves his super split between his three funds, he’ll retire with $540,234 in super
- moves his money into just one fund, when he retires he’ll have $553,888 in super.
That’s an extra $13,654 in super by age 65!
Want all your super in one value-for-money fund?
2 The 10 year average difference in net benefit takes into account historical earnings and fees of the main balanced options of 15 industry super funds and all retail funds tracked by SuperRatings. Assumes starting balance of $100,000 and initial salary of $110,000. Outcomes may vary between individual funds. Visit www.industrysuper.com/footer/assumptions for more details about modelling calculations and assumptions.