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.

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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.

Irene Smiling Face
Aunt Viv says it’s a smart idea to have just one super fund. You don’t want to lose your money by paying fees to all these different companies. Even if it takes time to sort out by ringing people or going online, you can save a lot of money. It’s better in your pocket than someone else’s.

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

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