Why combine super accounts?
Control – get all your super into one fund where you can easily keep an eye on it.
More super working for you – having your super in one place usually reduces the fees you pay. That means more money in super working for your weekend1.
No doubling up on insurance premiums – no-one likes paying insurance premiums, so why do it twice? If you have additional superannuation accounts, you are likely to be paying for multiple insurance policies – which will reduce the overall balance you’ll have available for your long weekend and, you may not be able to claim on multiple policies2
People sometimes decide not to combine super accounts because they want to keep the cover they have with another fund, but with smartMonday you can usually transfer your insurance too (subject to acceptance by our insurer) – just make sure you apply to do so before closing your other super account.
Like to know more about transferring insurance into your smartMonday account?
Contact a smartCoach today on 1300 262 241, or email firstname.lastname@example.org.
Consolidation Case study: Take two minutes to retire one year earlier
Find your lost super and roll it all into smartMonday.
According to Australian Prudential Regulatory Authority (APRA) data, for every 4 working Australians there are 7 superannuation accounts3. It’s so easy not to be one of those people with multiple accounts because as a smartMonday member, we can help you find any lost super and roll it all into your smartMonday account4. Just follow these simple steps:
- Complete the online Consolidation request form and send it to us.
- Wait for one of our consolidation experts to contact you to answer any questions you have and confirm your details – we won’t take any action on the consolidation until we’ve spoken with you.
- That’s it – there’s no step 3, we added this because a list with only two steps looks kind of silly.
After your consolidation request is submitted, the balance from your other funds should appear in your smartMonday account within 5 business days.