If you’ve changed jobs at some stage in your career, chances are that you’ve got more than one super fund and are paying more fees than necessary. Consolidating your super is a simple process that would make a significant benefit to your super savings. However it is important to review any unintended consequences when making changes such as the loss of any features and benefits that are valuable to you.
If you have multiple super funds you’re not alone. It’s estimated that one in two Australians hold multiple super accounts and that it’s costing Australians $1 billion a year in wasted fees1.
With the many superannuation funds available it’s important that you look at your options before consolidating your super and choose a fund that suits you. By consolidating and selecting the right super fund you could:
- Save money in fees and charges
- Make it easier to manage your super
- Select an investment strategy and asset allocation that suits your level of risk tolerance and stage of your life
Your Bernie Lewis Financial Adviser** can assist you in finding lost super and consolidating your superannuation to a fund suitable to your needs and stage of life.
1 The Super Secret Report, CHOICE, November 2006.
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Content correct as of 1/08/14.
Last Updated on Friday, 05 September 2014 16:30