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By reducing the number of super accounts that you hold to just one, you could save on fees over time and may reduce any overlap in insurance coverage and premiums you have.

Consolidating your super is simple and can be done online through myGov.

Before making a decision to consolidate, you should compare the costs, fees, risks and benefits of your other super funds against your preferred fund. You should also consider whether you can replace any insurance cover you may lose upon rolling over, potential withdrawal fees, as well as any investment or tax implications. You should also decide which super fund you want your future employer contributions paid to and complete a Superannuation standard choice form if you would like to change funds. Once you have completed this form, you’ll need to provide it to your employer, but remember to also check with your employer that they offer the option to pay your future contributions into a fund you choose.

Important information

This information was prepared by Resolution Life Australasia Limited ABN 84 079 300 379, AFSL No. 233671 (Resolution Life). A copy of the Product Disclosure Statement can be obtained by contacting Resolution Life. This general advice has been prepared without taking into account your particular financial needs, circumstances or objectives. You should consider the appropriateness of this information in light of your circumstances. This advice is based on our understanding of current law as at May 2022, and is based on its continuance unless stated otherwise. While every effort has been made to ensure the accuracy of the information, it is not guaranteed. Resolution Life do not actively monitor breach of superannuation contribution caps. You should keep track of the contributions made to your account in respect of the caps applicable to you. You should obtain professional advice before acting on the information contained in this communication. Taxation considerations are general and based on present taxation laws and may be subject to change. You should seek independent, professional tax advice before making any decision based on this information. Resolution Life is also not a registered tax (financial) adviser under the Tax Agent Services Act 2009 and you should seek tax advice from a registered tax agent or a registered tax (financial) adviser if you intend to rely on this information to satisfy the liabilities or obligations or claim entitlements that arise, or could arise, under a taxation law.

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