Benefits consolidating superannuation
Many funds provide a service where they will consolidate accounts on your behalf. To find out more about consolidating your super and for superannuation advice, contact us today.At Blueprint Wealth, we offer financial advice that is right for you, no matter what stage of life you are at.Are you one of the six million Aussies that has more than one super account?If so, that's six million of you paying at least double the fees that you need to (plus six million extra usernames and passwords).Once the transfer is completed, you can view your combined funds by logging in to your Member Online account, then clicking on ‘Account Activity’ in the menu board.Your transfer will be displayed as a ‘Rollovers / Transfers in’ transaction. With a few clicks we can locate your super and consolidate it into your Care Super account.You should also check the impact on any insurance arrangements (such as loss of insurance) or other benefits.
If you apply to transfer your cover, please wait until you receive confirmation that we have accepted your insurance before consolidating your super balance into your NGS Super account.
Why it makes sense to consolidate your super If you’ve worked for more than one employer there’s a good chance you’ll have more than one super account. While opening a new account when you start a job can make sense at the time, down the track it can mean you end up paying multiple sets of fees and have accounts all over the place.
This document has been prepared by Falcon Capital Limited, AFS Licence 302538, in association with MCCA Ltd, based on its understanding of current regulatory requirements and laws as at 30 September 2014.
If you already have a my Gov account, log in and click through to the ATO section. In this section, you can: Step 3: choose the fund you want to transfer your money from (called the ‘transferring fund’) and the fund you want to transfer your money to (called the ‘receiving fund’) from the funds listed.
Step 4: confirm your selection and your funds should move your accounts into one account within three days. Step 1: download a rollover initiation form from the ATO’s website Step 2: complete a form for each fund you are transferring a benefit from Step 3: send the form to the fund you are moving your super money into Step 4: the fund you have chosen to move your super money into then contacts the other fund and requests the transfer Step 5: the other fund must transfer your super money within 30 days (for paper requests). See the ATO website for more information You can contact either the fund you want to move your money into or your current fund to let them know you want to consolidate your accounts.