Luckily, there is a way to reduce these ongoing fees and let your savings grow. You can consolidate your super into one account.
According to moneysmart.gov.au, the benefits of consolidating your accounts include saving on fees, reducing paperwork and making it easier to keep track of your balance.
Consider what is best for your situation. Compare your super funds, choose the one you think will give you the best long-term outcome.
Before consolidating, you should check with your other super fund(s) to see if this could result in changes to your employer contributions, any fee or tax implications, or loss of insurance cover.
Consolidating your super is quick and easy using our online form below.
All you need are the details of your other fund(s) and two forms of identification.