Consolidate your super
Consolidating your super is a simple step that could make a difference to your super savings – and helps make keeping track of your money easier.
If you’ve ever changed jobs, chances are that you’ve got more than one super fund. By putting all your super money in one fund you could:
- pay just one set of fees and charges, which could save you money. With one fund, you pay one set of fees instead of several.
- make managing your super easier. One fund means one set of paperwork to keep track of, and more time for you to do the things you want to do.
- be better placed to manage your super’s investment strategy and asset allocation.
It’s important to do some research before you decide whether or not to consolidate your super funds.
- Contact your funds and find out what your current benefits are, and what will happen if you transfer your money to another fund. Make sure you find out if you'll be charged transfer, withdrawal fees or exit fees.
- Compare the fees and investment options available in your main fund to those in your other funds. You should include all fees that may be charged when you transfer.
- If your current funds provide you with insurance cover, find out what will happen to the cover when you transfer. Check and compare the levels of cover in your new fund to ensure you are still happy with the overall cover provided.
Once you have all this information, you’re in a good position to decide whether it's best for you to transfer or not.
If you’re an AMP customer and would like to transfer your other superannuation monies to your AMP super fund.
Consolidate your super now
Where to now?
- To find out how you could make a difference to your super, contact a Financial Planner accredited by AMP Financial Planning, or call 133 888
AMP Australia's # 1 for super is based on assets under management (Plan for Life and DEXX&R Mar 2008).
What you need to know
Any information on this page is provided by AMP Superannuation Limited, ABN 31 008 414 104, AFSL No. 233060, RSE Licence No. L0000550.
The information is not based on your personal objectives, financial situation or needs. Accordingly you should consider how appropriate the information is to those objectives, financial situation and needs before acting on the information and, before buying any financial product, you should read the relevant product disclosure statement.
We are part of the AMP Group of companies. However no remuneration or financial benefits are paid to us or our related companies or associates in relation to the information provided on this page.