Too many Super accounts? Why consolidating Super is important

Most people have more than one super account. Sometimes, there can be good reasons, including preserving valuable benefits such as insurance you can't get elsewhere, and avoiding high termination (exit) fees.

But you may have too many accounts simply because you've not got around to consolidating your money. Unnecessary accounts generally bring unnecessary fees and charges that can eat away at your future savings. They also make it far more likely that you and your funds lose track of each other. 'Lost members' may find their super gets transferred out of their original fund into an 'eligible rollover fund', whose investment strategy may not suit you and whose investment earnings may be lower.

Find out more about consolidating small amounts in lots of accounts and recovering lost super.