Consolidating your super can save you thousands
Superannuation | 4/02/2019 |
4 min read
If you’ve had a number of different jobs over the years, there’s a good chance you have more than one super account.
The problem is each account one comes with its own set of fees and charges. So if you have multiple super accounts you’re paying multiple fees. That can quickly add up, and if you have a few accounts you may be paying hundreds (if not thousands) in additional costs.
Luckily, there’s an easy solution. By consolidating all your super in one account you can simplify things, and only pay one set of annual fees. Here’s how you do it.
How to consolidate
Equip’s SuperMatch service allows you to find and consolidate all your superannuation accounts in a couple of minutes.
Simply log into your Equip account and click on the ‘Find My Super’ tab (located under the main menu). Follow the button prompts and you’ll be given a list of active superannuation accounts under your name. Consolidating them all with Equip is as easy as pressing a button.
And that’s it. We’ll take care of the rest on our end, and you’ll have the convenience of a single super account and one set of annual fees.
A quick note
If you have multiple super accounts there is a good chance you have some form of insurance with each account. Rolling your money out and closing these accounts will cancel this insurance, and means you are no longer paying multiple insurance premiums annually. You should consider the effects of cancelling insurance cover before making any changes.
Log in to your Equip and consolidate your super. Click here.
Equipsuper Pty Ltd (“Equip”) (ABN 64 006 964 049, AFSL 246383) is the Trustee of the Equipsuper Superannuation Fund (“the Fund”) (ABN 33 813 823 017, MySuper Authorisation 33813823017672). This document provides general information only. It does not take into account your personal objectives, financial situation or needs, so should not be taken as personal advice. Before making a decision to invest in the Fund, you should read the appropriate Equip Product Disclosure Statement (PDS). Past performance is not an indication of future performance. Equip is licensed to provide intrafund personal and general superannuation advice under its AFSL. Member Advisors are employees of Equip. For more information about the remuneration of Equip and its employees, please refer to the Equipsuper Financial Services Guide (FSG).