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Sort Out Your Super

Amanda Varidel

Some facts about super:


  • If you’ve had more than one job, you’re likely to have multiple super accounts.

  • For every additional account you have, you could be paying extra fees.

  • It’s easy to bring your super together with Heart.

If you’re putting it off because you think it’s all too hard to do — think again. Consolidating your super can be quick and simple — and can make a big difference to your super balance.


If, like most people, you’ve had more than one job in your career, you’re likely to have had more than one super account. However, you may be better off combining all your super into one account.


Here are five reasons to consolidate your super.


1. You could potentially reduce your fees


Every super fund you have will charge a range of fees, such as member, management, adviser or contribution fees. By having one account, you can relax knowing that you will only pay one set of fees.


2. You could save on insurance premiums


If you have two or more different super accounts with insurance cover, you may also be paying two or more premiums for the same insurance cover. By having one super account with the right types and amounts of insurance cover for your situation, you can reduce the amount of insurance premiums you pay, while ensuring that you have adequate cover.


3. There’s less paperwork


Even with only one extra account, that’s double the paperwork coming in. Reduce your accounts, and you’ll reduce your paperwork.


4. It’s easier to keep track of one account


With one account, your super will be much easier to keep track of. Not to mention, you won’t have to remember multiple logon details and passwords to get access to these accounts online. By having one account you’ll see a consolidated view of your super balance, giving you a clearer picture of how much you have.


5. You could find super you didn’t know about


It’s likely you could have super accounts out there from jobs that you had many years ago, or only stayed in for a short time. We can help you locate any lost super you might have. All we need is your Tax File Number and your consent. Simply send us an email to clientservices@heart1stop.com to give us your consent, and we will search for your lost super.


6. Things to consider


Before making a decision to consolidate you should compare the costs, risks and benefits of all your accounts. It’s also a good idea to speak to us and consider things like fees, loss of insurance cover and any costs for withdrawing from your other super funds as well as any investment or tax implications.


7. We're here to help


To sort out your super, you can speak Stu by calling us on 1300 861 143.

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Stu Varidel AR 324007 and Your Choice Financial Planning Pty Ltd ABN 80124246877 trading as Heart Financial Advisers CAR 323623 are authorised representatives of Sentry Financial Services Pty Ltd ABN 30 113 531 034 & AFSL 286786.

Warning The information provided on this website has been provided as general advice only. We have not considered your financial circumstances, needs or objectives and you should seek the assistance of your Adviser before you make any decision regarding any products mentioned in this communication. Whilst all care has been taken in the preparation of this material, no warranty is given in respect of the information provided and accordingly neither Heart Financial Advisers and Heart Mortgage Services nor its related entities, employees or agents shall be liable on any ground whatsoever with respect to decisions or actions taken as a result of you acting upon such information.

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