I had no idea where my lost super was or the names of the funds. I just new it was scattered everywhere and I should definitely have more than $3,000 in my super. Australian Super Finder found all 7 of my funds and now my balance is almost $50,000. Thank you so much for getting my super back on track. ? Leonie, Thomastown VIC

Super Facts and Tips

Learning the Advantages of Keeping One Super Fund for Life

This means that you have one investment option that is easy to keep track of and manage.

It also means that if itís got any income protection attached to a number of different funds, and particularly if those funds have similar terms and conditions, and pays for a certain period in time, you could be unnecessarily paying additional premiums. If youíre making a claim and it matches the policies, those income protection policies identical to another super fund, youíd likely be able to claim only one policy.

The Benefits of Keeping Your Super in One Place

So itís certainly beneficial to have everything set in one place. There is an estimated $16.8 billion dollars in lost super in Australia and thatís quite a significant amount of money. You might find that some of it is yours just lying around for you to claim it. If youíve changed addresses and super fund, then you could have more than just one super fund.

There are ways for you to find your lost super. You can go to www.australiansuperfinder.com.au. What would happen then allow the site to find your lost super for you. All you need to do is fill in some important information and you should be good to go. You will also have the option to consolidate those accounts if ever you find multiple accounts in your name. So itís really quite an easy way to keep track of your super and get it all into one place.

We always recommend that you do a little bit of homework before consolidating your accounts. So itís recommended that you consult with the administrators of the site and learn more about your super funds and what they have that can support you in your financial needs. You need to know if they have any extra fees, or whether insurance is attached to those funds, and then make a decision on where you will transfer that insurance return of whether or not you can afford to lose that cover.

Be mindful of those things before you consolidate. For better results, consult with out experts by calling 1300 252 167

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