It is estimated that an average Gen Yer will change employers every 2-3 years. Thy will have 29 different jobs and change careers up to 7 times before they retire.
All this moving around can mean you have super accounts all over the place.
You will pay fees on each account:
- Life or Trauma insurance fees
- Maybe ongoing advice fees
- Maybe a trail Commission
- Administration fee
Consolidating all your accounts into one will reduce these fees and give you more control over how your money is invested. You should seek advice first though. Call us to help 40412055.
The ATO maintains a Lost Member Register for super funds who have lost track of account holders. Once located you can consolidate all your accounts using a Request to Transfer form.
Once you have consolidated remember to fill out a Standard Choice form whenever you start a new job, this way your new employer will make payments to your existing account instead of opening a new one for you.
CALL TO ACTION; CALL US TODAY TO GET ADVICE AND ORGANISE YOUR SUPER TODAY! 40412055.
