Do you have multiple superannuation accounts? Do you know you could be paying multiple sets of insurance and administration fees?
Employers are required by law to pay a legislated portion of each employee’s salary into a superannuation fund of your choice. As this will form your retirement finance you need to ensure you have the right amount of superannuation and the best strategy in place for your retirement.
As a result of all these contributions and investments you may have a number of superannuation funds that you contribute to. This can be time consuming, and if you’re not financially well informed can end up being confusing and costing you a lot of money in fees you may not want to pay. It can be an expensive exercise which is the opposite of what you want. Consolidating your funds may be the answer. You will save time and costs as you will only pay one set of fees, have far less paperwork and it will be easier to keep track of your superannuation.
When we consolidate your superannuation we will also assist you in discovering if there are any fees which you will be liable for. We will look to preserve your existing insurance benefits, and that your employer is able to contribute to the new fund. If you have a defined benefits funds this will need careful consideration before moving your investment. We can help in this areas, or alternatively we can guide you to take control of your superannuation yourself.
If you are considering this and need more information on the consolidation of your superannuation accounts, pre-retirement and retirement planning or contribution strategies, visit our Superannuation Page or contact us below.