Find It
Each workplace will have a different super fund for their employees. When starting a new job you can choose which fund your money goes to, but you have to tell your employer. Otherwise they will pay it into the fund that they want to. This is called a default super fund.
So, chances are that if you have had a number of different jobs, you will have more than one superannuation fund. Below are some reasons why it's better to only have one fund instead of many different ones.
First Nations Foundations is an independent company that provides an information service. The content on the website is not advice. There is no explicit or implied endorsement of any particular companies, products or strategies. The information on this site is educational and is intended as a general overview and no responsibility can be taken for any change in your personal circumstances of any persona acting on this information. You are advised to discuss your personal situation with your financial planner, accountant or other industry professional.
Less fees
You have to pay admin and other fees when you have a super fund. If you have just one account, that means only one lot of fees.
Avoid a low balance account
If your balance is under $6000 and it hasn't received money for 16 months, your fund may have to send it to the tax office.
Less paperwork
One fund means that you have only one lot of paperwork, as each fund will mail you an annual statement.
Options to Find Your Super
Ask your current fund
Your current fund will be able to help you locate other super from previous jobs. Once it’s found they will add it to your current balance. If you’re not sure who your current fund is, simply have a talk to the payroll team at your workplace.
Find Your Super Through MyGov
