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How can I consolidate my super?

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I am currently looking for all of my superannuation accounts so I can consolidate them into one account, in order to avoid account fees. Do you have any advice?

It really is a good idea and believe it or not, but the tax office can actually help you find all your lost super. Go to your search engine and type in the words ‘super seeker’. The ATO website provides a service to help you locate lost super balances.

And as you are in a money-saving mode, have good look at what fees you have been paying.

Many bosses for convenience throw their employees’ money into one fund, which are often run by financial institutions. These are generally dearer than industry super funds and often have been outperformed by many of the industry funds. Do some homework. The website superratings.com.au can be good for doing some super comparisons.

For advice you can trust book a complimentary first appointment with Switzer Financial Services today.

Important information: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. For this reason, any individual should, before acting, consider the appropriateness of the information, having regard to the individual’s objectives, financial situation and needs and, if necessary, seek appropriate professional advice.

Published on: Tuesday, January 17, 2012

The Switzer Super Report is a newsletter and website for self managed super funds. With exclusive commentary from Peter Switzer, Roger Montgomery, Paul Rickard and Charlie Aitken the Switzer Super Report will help you maximise your after tax investment returns and grow your DIY Super. Click here for a free trial or subscribe today.

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