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Australian Super does not recommend, endorse or accept responsibility for these products or services.

Australian Super does not accept liability for any loss or damage caused by the products and services provided by these third parties.

Consolidating your super means transferring over multiple balances into a single super account.

This is a process that can involve a bit of paperwork as you need to inform each fund in writing about your plans to consolidate.

These forms should be available on each super fund’s website.

“I’m still at uni, so I’m not exactly thinking about getting old and retiring just yet, but the other day, I saw signs at my bank about how easy it is to combine your super accounts to save money (and my sister had been nagging me about it for a while), so I decided to combine all my super accounts into one.

Generally the more super accounts you have, the more administration fees you'll pay.

Having one account makes it easier to keep track of your super and choose it when you change jobs.

Grant Thornton uses cookies to monitor the performance of this website and improve user experience.

The my Gov website also has the functionality for you to rollover or consolidates all your superannuation (within three business days).

Tax Office figures show that over 14 million Australians have a super fund account and around 45% of these people have more than one super account.

To consolidate super can also mean having only one set of fund statements to read, making it easier to keep on top of your superannuation and evaluate how it is performing.

With just one fund to keep track of, consolidating your super also makes it easier to keep tabs on your super throughout your working life, so you potentially won’t miss out on any superannuation savings in retirement.

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