If you’ve had more than one job, it’s possible that you could have more than one super account. Because every little bit counts when saving for your retirement, it’s important to take control and consider combining all your super accounts (including lost super accounts) into one.
What are the benefits of consolidating your super?
- You could pay fewer fees – with each super account you will be paying investment fees and possibly administration fees, which may be eating into your retirement savings. What’s more, you could be paying for insurance cover that you may not need.
- You could have less paperwork – when you have just one active super account it makes it easier to keep track of the growth of your super savings.
- You could have a more effective investment strategy – by maintaining one super account you can focus your attention on one investment strategy, instead of having a number of neglected, smaller super accounts with different investment approaches that make it more difficult to monitor your investments.
How can you transfer all your super accounts into Heath Super?
It’s easy! All you need to do is complete a Consolidate my super form (one form for each super account you wish to transfer). We’ll take care of the rest.
Once you’ve filled in your details and sent us the completed form together with proof of ID, we’ll contact the organisation managing your super account. They’ll usually act on our request (as authorised by you) and commence transfer of your other super account(s) into your Health Super account.
Please note: your other fund(s) may send you a transfer form for completion confirming your intentions before allowing the transfer to take place or may require further information. Make sure you check with your other fund(s) if they charge any withdrawal or termination fees or whether you will lose any benefits (eg. insurance cover).
Benefits of having us as your main super provider?
- Low fees – as the industry fund for the people who care, our fees are structured to keep the cost of managing your super account as minimal as possible. Please refer to the Member Guide for full disclosure of our fees and costs.
- Investment choice – we offer a choice of nine investment options to suit investor profiles and their needs.
- Competitive – our investment returns over the long-term are competitive. It’s important to remember that super is a long-term strategy and that investments can fluctuate and negative returns can occur from time to time.
- Convenient – you can maintain your account with Health Super when you move to a new employer. This means you only have to keep track of one super account.
- Automatic insurance cover - eligible members automatically receive the following insurance cover without having to provide any health evidence:
- two units of Death Cover
- two units of TPD Cover
- two units of Income Protection Cover.
Health Super's current insurer is AIA Australia Limited (ABN 79 004 837 861 AFSL No. 230043) trading as AIA Australia (AIA or the Insurer). The insurance cover is provided under policies issued to Health Super by AIA (Policy). Insurance cover is subject to eligibility criteria and other terms and conditions in the Policy, summarised in the Member Guide (Product Disclosure Statement).
