Benefits of consolidating superannuation

13 Jan

If you've worked for more than one organisation, you may have more than one super fund. But, having your super consolidated into just one QSuper account will ensure you’re not paying duplicate fees, including insurance fees, which means more to invest for the future.

Just remember that as a QSuper member you have access to member benefits including: More than one fund to consolidate?

This document is not advice and provides information only.

It does not take into account your individual objectives, financial situation or needs.

The best way to consolidate superannuation accounts is to register with the my Gov website (

The my Gov website will allow you to link all of your government interactions in one place.

Don’t worry, you can easily consolidate the full balance of multiple funds via Member Online or download extra Consolidate With QSuper forms.

If you want to request a partial transfer you’ll need to use the paper form.

Considerations - beware of fees Once you’ve chosen to consolidate your superannuation, you should decide which super fund will best suit your personal circumstances.This can be a good way of combining super at the same time as submitting forms to join the fund.Before making a decision to combine your superannuation, you should consider any penalties such as exit fees, change to insurance cover or loss of benefits that may apply and, if necessary, consult a qualified financial adviser.Whilst it is often placed in the 'too hard' basket, superannuation is your hard-earned money and your future that's at stake.Decisions you make today can make a big difference to your lifestyle in retirement years from now.If you have more than one super account, which may well be the case if you have had more than one job, you should consider consolidating them into a single super fund.Consolidating your super funds so that they are all together in one place allow you to keep track of managing your retirement savings to ensure you reach your retirement goals.At QSuper, we’ve made sorting out multiple super accounts really easy.In fact, organising to consolidate them into your QSuper account only takes a few minutes.To find out more about cookies, what they are and how we use them, please see our privacy notice, which also provides information on how to delete cookies from your hard drive.The benefits of consolidating superannuation are well documented, yet the Australian Taxation Office (ATO) still holds billion held in lost superannuation and Australians are estimated to hold up to three superannuation accounts each on average.