Consolidating my super for

06-Nov-2017 22:33 by 9 Comments

Consolidating my super for

One of the biggest advantages of combining your super accounts is the potential savings in fees (e.g. If you’re paying fees on multiple accounts, you can reduce the amount of fees you pay by reducing the number of super funds you have.Another advantage of consolidating your super is less paperwork.

In as little as three days, your entire super will be working for you in the one super fund.Having one super account means you only have one set of paperwork to manage.This could make it easier to keep on top of your super and understand exactly how it’s performing.It could also reduce the likelihood of you ending up with lost super in the long run if you remain an active member of only one fund as opposed to having balances in multiple funds that may be administratively hard to manage.There are some things you should consider before you move money out of a super fund.*Please note, if you are invested in a BT Super Fund nil entry fee option, there may be an exit fee applicable.

Refer to the Product Disclosure Document for the relevant BT super product on the Documents and Downloads page.Combining these fees into one fund means you can easily track, manage and review your fund investment at a glance. To consolidate your super, you can transfer your benefits to VISSF from another superannuation fund at any time.At the same time you can transfer any insurance you have and obtain the same amount of cover with our insurer without having to produce evidence of health.Consolidating your super is not just about saving money in fees, it’s also about giving your super the potential to really grow.With the power of compounding returns, the money you save in fees could help grow your super balance.There are new rules designed to keep super safe from money laundering and terrorism-financing for all Australians.

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