Consolidating super funds

Consolidating your super means moving all your super into one account. It makes your super easier to manage, and saves on fees.

Before you consolidate, pick the best super fund for you.

You can transfer your super for free in a few simple steps.

If you’re ready to consolidate your super now, go straight to the Australian Taxation Office (ATO) online at myGov.

Consolidating super funds

Why consolidate your super

Consolidating your super can save you time and money.

Having all of your super in one account means you:

  • save money by only paying one set of fees

  • have less paperwork

  • can keep track of your super balance more easily

Things to do before consolidating your super

Before you change out of a super fund, there are few things you need to do to make sure you don’t lose important things like insurance.

Check employer contributions

Check your current accounts to see if changing funds will affect how much your employer contributes. Some employers contribute more to certain funds.

Check your insurance cover

Before you leave a fund, check to see if you have any insurance through the fund. This might be life, total and permanent disability (TPD), and/or income protection insurance.

If you change funds, you might not be able to get the same cover. Be particularly careful if you have a pre-existing medical condition or are aged 60 or over.

If you’re not sure, get independent advice from a licensed financial adviser – you can speak to us.

When you change super funds, you usually keep the existing insurance until the replacement policy is issued and your new cover is confirmed.

Tell your employer

Whether you choose a new super fund or one of your existing ones, give your employer the details they need to pay your super into your chosen account.

Check your type of super fund

Super funds can either be accumulation or defined benefits funds. If you are in a defined benefits super fund get professional advice before you leave. Some funds are very generous, so make sure you’ll be better off. If you leave, you can’t rejoin. 

When you consolidate your super, don’t just transfer your super into the account with the highest balance. The best account for you may be one of your small accounts, or an account with a completely new fund. How to consolidate your super

Once you’ve chosen your account, transfer the balance of your other super accounts into it.

You can do this easily online through the ATO:

  • go to

  • log in or create an account

  • link your myGov account to the ATO

  • select ‘Super’ and then ‘Manage’

  • select ‘Transfer super’ (this option will only appear if you have more than one super account)

This will show you all of your super accounts and let you transfer your balance from one to another.

You can also transfer your balance to a new fund by:

Changing super funds

If you only have one super fund but you’re thinking about changing, follow the same process as you would follow for consolidating your super.

You might be thinking about changing funds to:

  • invest in a fund with better services and features

  • leave a fund that has been performing poorly

  • leave a corporate fund after leaving your job

Don’t rush to change super funds if:

  • your fund performed poorly in a single year — judge its performance over five years or more

  • you’re chasing last year’s top-performing fund — it may not perform as well in coming years

Remember to check your insurance cover before you change.

Reproduced with the permission of ASIC’s MoneySmart Team. This article was originally published at

Important note: This provides general information and hasn’t taken your circumstances into account.  It’s important to consider your particular circumstances before deciding what’s right for you. Although the information is from sources considered reliable, we do not guarantee that it is accurate or complete. You should not rely upon it and should seek qualified advice before making any investment decision. Except where liability under any statute cannot be excluded, we do not accept any liability (whether under contract, tort or otherwise) for any resulting loss or damage of the reader or any other person.  Past performance is not a reliable guide to future returns.

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Authorised Representative 298494
Interprac Financial Planning Pty Ltd 

Darryl Jopling

Senior Adviser

I have worked in the financial services industry since 1982 and as a Financial Adviser since 1999.

I have worked for large Financial Planning businesses, Membership based organisations and looked after the financial planning needs of clients within an Accounting Practice before starting my own business.

I am married, have 4 older children and a grandson and I am keen golfer with mixed results like many .

I have been through many of the strategies I talk with clients about myself and with my family.

I have been through the journey of seeing my parents move into Aged care and negotiated the difficulties and pitfalls of understanding the system for them and this gives me an excellent insight into what is required to assist families at this difficult time.

In a previous roll I used to run retirement seminars looking at Centrelink and Retirement Incomes and how to make these work for you. I have helped many of my clients with Aged Care advice when their parents needed to move into Nursing Homes. For many clients I assist them with superannuation, building wealth and protecting their loved ones with insurance.

I am supported by his, Licensee, Interprac Financial Planning’s in-house resources and ongoing technical, systems and training.

I am committed to understanding your needs and identifying strategies and products to help you achieve your goals.

My guiding principle as an Adviser is to design plans which help to provide my clients with clarity of purpose and the opportunity to build a solid financial foundation.
I will take the time to listen, explain things clearly and keep you informed throughout the advice process.

My experience is complemented by professional qualifications including:

  • Certified Financial PlannerTM Professional
  • Diploma of Financial Planning

At Choice Financial Advice we work with you along the way on life’s journey.

Whether you are getting married, starting a family, embarking on the trip of a lifetime, planning to enjoy your years after work or assisting elderly parents with Aged Care and Nursing Home placements, we can help.