See the potential impact on your balance if you consolidate multiple super accounts to the lowest fee account.
Before consolidating your super into a single account, it’s worth taking a moment to check the features and benefits offered by your other funds. Be sure you won’t miss out on any valuable perks.
Also, give careful thought to the level of insurance cover held with your other fund(s). In particular, be wary of switching funds if you have an existing medical conditions – you could get knocked back on insurance for any conditions you currently have.
Finally, confirm that your employer can contribute to your chosen fund. If your job is governed by say, a workplace agreement, it may specify the fund or funds into which payments must be made by your employer.
Your financial adviser is well-placed to provide expert advice on tracking down lost super, consolidating your super into one account – and choosing the super fund best suited to your needs.