Benefits consolidating superannuation
This could make it easier to keep on top of your super and understand exactly how it’s performing.Consolidating your super is not just about saving money in fees, it’s also about giving your super the potential to really grow.You’ll also of course be better able to monitor: So how do you decide on the account to consolidate into?Well you have to consider the following: The level of flexibility and investment control you want whether this is in a Retail Fund or Industry Fund.If you work while visiting Australia on a temporary resident visa, your employer may be required to pay superannuation (super) on your behalf to a super fund.Explains what you can do with your super after you leave Australia.
Just remember that as a QSuper member you have access to member benefits including: More than one fund to consolidate?
“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.
I’ve done tonnes of casual jobs over the years, so I wasn’t even sure how many super accounts I had.
Before requesting a transfer, it's a good idea to check with your other fund/s to determine whether there are any exit or penalty fees for moving your benefit, or other loss of benefits, such as insurance or pension options.
In addition, if your other super fund is untaxed there may be tax implications to consider. Complete the Consolidate with QSuper form, including the details of your other fund 2.