Having multiple super accounts means paying multiple administrative fees and premiums which can reduce your super savings over time. Having all your super in one place not only makes it easier for you to manage, but it saves you lots of money in the long run. The average Australian has about 4 or 5 job changes in their lifetime, and usually that can mean a change in their super fund each time, too.
Consolidating your super means reducing unknown fees and premiums, but it also means less for you to manage over time.
You could have 3 or 4 unclaimed super accounts that are slowly losing value over time – by joining them all into one primary super account, you will save on each individual account fee, paperwork, and the risk of completely forgetting about them.
Australian Super Finder specialises in finding lost, inactive and active super accounts for free.
Disclaimer: The information contained in this website is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Disclaimer: The information contained in this website is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
