I had no idea where my lost super was or the names of the funds. I just new it was scattered everywhere and I should definitely have more than $3,000 in my super. Australian Super Finder found all 7 of my funds and now my balance is almost $50,000. Thank you so much for getting my super back on track. ? Leonie, Thomastown VIC

Finding and Consolidating Lost Super

Changing Jobs with Superannuation

You can move together with your super fund from one job to another. It is easy and new membership applications are not there.

Default Superannuation Funds

If you are commencing a new occupation and don't select your superannuation fund by supplying your employer with information about your preferred super fund, your employer will usually make a new super account on your behalf with their selective default super fund provider.

A few bigger employers have their particular corporate fund whereas others choose to engage an industry super fund or retail fund to deal with the superannuation of their employees. Irrespective of the kind of fund, numerous employers may offer benefits meant for their workers through super, like paying for or funding insurance cover.

Learn about the kinds of super funds in Australia.

Why Select Your Own Superannuation Fund?

If you withdraw from your employer, you'll usually lose access to whichever extra benefits offered by that certain employer. If you're able to continue being a super fund member, you may need to transfer to one personal account – frequently with higher payments and lower insurance cover or more expensive; this referred to as "flipping."

Even though you choose to remain a super fund member, the fund could be restricted that your new employer isn't allowed to fund to that super fund for you. You will have to select a different super fund to get your new contributions or open a new account together with the default fund of your new employer. Each new account (in your name) signifies new premiums and fees to contribute from your superannuation balance.

Your Financial Future

Altering jobs can be an eventful and stressful time, however, while your situations are changing, it is vital to reconsider your financial state, including your superannuation.

If you do not act, you could wind up:
• paying bigger fees – causing fewer retirement savings
• with decreased or no cover –you as well as your family aren't sufficiently protected

What If I Start A Contract Or Freelance Job Or Become Self-Employed?

You can keep the account if ever you shift to self-employed, contract or freelance employment. If the company or individual is making contributions for you, just supply those with a filled out "Standard Choice of Fund" form. If you are making payments for yourself, check out "How to contribute."

Keep track of your superannuation.
If you're changing jobs, make sure you keep your superannuation in an account, so you are not paying several fees.
Monitor your cover insurance arrangements, and ensure that you have sufficient cover.
Think about establishing a "salary sacrifice" arrangement to increase your superannuation.

If you are worried about your lost super, we can help you find your lost super. All you need to do is consult at as by calling 1300 252 167

All information on this website is of a general nature only. We have not taken into account your financial situation, needs or objectives. You need to make up your own mind and ascertain yourself if it is right for you. We recommend you read the product disclosure statement(s) and the financial services guide before making any financial decision.

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