Why do people have multiple super accounts?
Thanks to recent reforms in superannuation, your super fund now stays with you from one job to the next.
Unfortunately, this wasn’t always the case. Over the years, as career paths have changed, many people have found themselves with multiple super funds. Consolidating your super into one super fund can be a smart decision.
Why consolidate?
Multiple super accounts may mean you are paying more than one set of fees and insurance premiums. Having your investments in a single fund makes it easier to manage, with the added advantage of having all your personal information in the same place.
Consolidation considerations
Before consolidating your super, it’s important to check how this could affect your current benefits, such as insurance.
Bendigo Super members
If you’re an existing Bendigo Super member and know your other super fund details, you can use our simple Request to Transfer Form to consolidate your super.
Alternatively, if you have access to Bendigo SmartStart Online, you can combine your super in less than a minute:
- Log in and click on ‘Start your super search.’
- Follow the prompts.
Finally, you may wish to bring your insurance with you. Call the Bendigo Super support team on 1800 033 426 or complete our Insurance Transfer Form before you consolidate your super or cancel any existing insurance cover.
An exciting future in superannuation
Betashares has recently acquired Bendigo Superannuation. Learn more about the acquisition and our future plans in superannuation.
This information is current as at 1 July 2023 and may be subject to change. You should not rely on this article to determine your personal tax obligations or other entitlements.
Bendigo Superannuation Pty Ltd (ABN 23 644 620 128 AFSL 534006) (Bendigo Super) is the trustee and issuer of Bendigo SmartStart Super and Bendigo SmartStart Pension (Products). Before making an investment decision in relation to the Super Products, read the relevant Product Disclosure Statement, available from this website (www.betashares.com.au/super/) or by calling 1800 033 426, and consider whether the product is right for you. You can find the Bendigo SmartStart Super Target Market Determination here and the Bendigo SmartStart Pension Target Market Determination here. This information is general in nature and doesn’t take into account any person’s financial objectives, situation or needs. You should consider its appropriateness taking into account such factors and seek professional financial advice. Past performance is not indicative of future performance.
Written by
Betashares