If you’ve got multiple super accounts, you may have some form of insurance with each account. Rolling your money out and closing these accounts will cancel any insurance you have with them. And while you don’t want to be paying for multiple sets of insurance cover, you also don’t want to inadvertently cancel cover that you might need.

The good news is you can apply to transfer any death, total and permanent disablement (TPD), and income protection (IP) cover you have in other funds to Catholic Super, up to a certain limit.

Super funds can’t charge either entry or exit fees, so transferring money from your additional super accounts into a single super account shouldn’t incur a cost. However, it’s still a good idea to review the fees and charges that apply across your other super funds, and have a good understanding of the fees and costs you’ll pay once all your super is combined into a single account.

As a profit-to-member industry super fund, Catholic Super works hard to keep our fees competitive.