It's easy to wind up with several super accounts. If you have ever changed jobs, you probably have more than one super fund account.
If you have more than one account you could be paying fees to each fund. Why not put all of your money in one place and get your money to work harder for you? You only pay one set of fees which helps you to save more for retirement.
It’s also easier for you to keep track of your money and there will be less paperwork to deal with.
It’s easy with Catholic Super
You can group your super over the phone. Our Service Centre can lodge your request for you in minutes. Simply call us on 1300 655 002.
You can do it online. Log in to your super account using MyLife Online and follow the simple steps to consolidate electronically.
Alternatively you can download the Request to Consolidate Your Super form. You will need a separate form for each fund you’re transferring. You can also request the form by contacting us.
Once we receive your form we will contact your other fund and do all the work for you. Your other fund must process the transfer within 3 days of receiving the request. We will follow up with them regularly to make sure this happens and write to you to confirm when we have received the money and deposited it to your account.
Catholic Super does not charge any fees for you to transfer other funds into your super account. However, your previous fund may charge you a withdrawal fee.
Important things to consider
Before you decide to transfer other funds into Catholic Super, you should consider the following:
- ask your previous fund if it will charge any fees or termination penalties for withdrawing your super,
- if you have insurance cover with your previous fund, find out how transferring out will affect you. You may be able to transfer your insurance coverage into Catholic Super before grouping your super. Some conditions apply. Read the MyLife MyInsurance guide for information about Catholic Super’s insurance options, and
- make sure you compare the super funds you have and consider areas such as insurance, fees and performance. You can compare us with over 200 other super and pension funds.
The information on this page is dated 20 December 2017, forms part of the Product Disclosure Statement, is general information only, and does not take into account your personal investment objectives, financial situation or needs. It is not intended to be, and should not be construed in any way as, investment, legal or financial advice. We recommend you assess your own financial situation before making a decision based on the information contained in this document. To help you with your decision making you may wish to seek the help of a professional financial adviser.