Multiple super accounts = multiple missed opportunities
Tags: Super, consolidating super, multiple super accounts
Did you know that the average Australian has four superannuation accounts in their name? This is one of those stats that makes everyone at The Super Fund Co. shake their heads, as it’s such a simple thing to do to make sure your retirements savings are maximised.
Having multiple super accounts means you’re being charged multiple fees and insurance premiums, which means that your retirement nest egg is being unnecessarily eaten away at. Even worse, if your super accounts become inactive over a period of time, you could lose that money altogether. What a waste!
The best time to consolidate your super accounts is NOW. And the earlier you do it, the better! Recent research by the Association of Superannuation Funds of Australia (ASFA) found that almost 50% of Gen Y and 40% of Gen X had not yet “got around” to consolidating their super accounts yet – hopefully this is not a pattern that will continue throughout their lifetimes.
If you want a hand consolidating your super accounts, talk to us about how we can do this for you, at no additional cost. It’s your money – make it work for you!
