Consolidating superannuation for
ASFA points out that the younger you are, the more you will benefit from making small changes to the way you manage your super.
Former CEO of ASFA Ms Pauline Vamos said, “Every dollar you save on unnecessary fees, or every dollar of lost super you find, is worth seven times more to your retirement savings.
If you do, you might need to replace this cover elsewhere before closing your account.
In October 2013, approximately 33% of the survey respondents had more than one superannuation fund because they hadn’t got around to consolidating them yet.Please note that this table has been sorted by our star rating (highest to lowest, A-Z) and is based on the policy holder being aged between 30 and 39, with a super balance of ,000 to 0,000. These days it often seems like life gets more and more complicated, and nowhere is this more evident than in our finances.Why should you do to combine your super accounts and how do you do it?According to the Australian Taxation Office (ATO), more than 6.3 million people, or 45% of the workforce, were unaware that they hold multiple super accounts in 2016 – and are therefore very probably incurring more than one set of fees.