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Consolidate Super

Having multiple super accounts means you could be paying multiple sets of fees. Consolidating your super is free and easy. It only takes around 10 to 15 minutes, depending on how many accounts you have.

How to consolidate your accounts

Getting your super together is easy and free. You can bring your accounts together in two steps and feel confident you are keeping more of your money. You can transfer all your fund balances to Aware Super online, in the app, or by paper form. 

To consolidate online, all you need is an Aware Super online account.

  1. Get started by selecting the button below. You'll need to login to begin your search.
  2. If searching for the first time, you will need to verify your identity using two pieces of ID from the list provided (e.g. driver’s license and Medicare card). After ID verification, your search will begin automatically.
  3. If you have searched before (within the last 12 months), a PIN code will be sent to your mobile to verify it’s you.
  4. Review the super we’ve found and click the ‘consolidate’ button.

Find and consolidate your super

To consolidate in the app you need online access to log into your account. If you don't have the app yet, you can download it from the Apple Store or from Google Play.

  1. Log into your account.
  2. Make sure you have your mobile number on file. If you don't have it, add it. You can do this on the 'Profile' screen by clicking 'update your details'.
  3. Access the search and combine tool via the 'Accounts' screen.
  4. Scroll down and select 'Consolidate now'.
  5. If searching for the first time, you'll need to verify your identity using two pieces of ID from the list provided. This could be your driver’s license and Medicare card.
  6. After ID verification, you will need to select ‘Consolidate now’ again to begin your search.
  7. A PIN code will be sent to your mobile to verify it’s you.
  8. Review the super we’ve found and click the 'Consolidate' button.

If you’re transferring super from another super fund, it takes around three days to complete the transfer. The ATO generally pays any lost or unclaimed super within a week.

Key points

  • The more accounts you have, the more fees you pay. Over time, the fees for multiple accounts can chip away at your balance. 
  • One account is easier to manage and can provide more substantial long-term gains.
  • When you’re sorting out your super, it’s wise to check how much insurance you have.


Why you might have more than one super account

Changing jobs and not taking your super with you is why you may have more than one account. Unless you’ve provided your nominated super fund details to every employer, you most likely have more than one super account. 

Since 1 November 2021, you no longer have to actively choose a new super fund when you start a new job. Instead, your current super fund stays with you, so you don’t have to open new accounts and pay multiple sets of fees.

The ATO estimates Australians have $16 billion in lost and unclaimed super. Some of that money might be yours. And it should be working as hard as you are towards retiring your way.

What happens if you have more than one super account?

It's likely you have more than one super account if you’ve changed jobs.

Your super will be paid to the account your employer finds through the ATO’s online system.

If you think you may have more than one account, check with the ATO so you can make sure your super goes to the right place.

Watch the video to learn more about taking your super with you when you change jobs.

When you start a new job, you can give your employer a Standard Choice form. This form tells your employer which super fund you want them to pay your contributions to. If you don’t complete a Standard Choice form, your employer will need to check with the ATO to find your existing super account. If this account is active, they must use it for your contributions. If you don’t have an existing super account, your employer must pay your contributions into a super fund chosen by them.

You could save money on fees

In 2020, around 74% of Australians held a single super account, an increase from 61% in 2017. This trend is partly due to the expense of paying fees on multiple accounts.   

The 4 million Australians with two or more super accounts pay around $690 million annually in extra administration fees. They also pay $1.9 billion on insurance premiums.

Find out about Aware Super’s competitive fees

One account is easier to manage

One account means one statement, one login and password to remember. There's also only one place to manage your investments, insurance and contributions.

You can log in to your Aware Super account and see how your super is performing, anytime.

The long-term benefits of super consolidation

One account with a larger balance means you can focus your investment strategy.

There could also be benefits from market gains and compound growth that come from a longer time in market.

Check how much insurance you have

Most super funds provide default death, total and permanent disability cover inside superannuation. Some funds offer income protection cover as well.

Before you combine your super, check which policies you have with each account. You might be paying for insurance you don’t need, or you might lose cover you want.

Why consolidate with Aware

You can take advantage of competitive fees and member benefits. These include advice at no extra cost about which investment approach could be right for you. We’re available to help you by phone, email.

To see how your super is tracking, use our retirement calculator. There may be small steps you can take now that positively impact how much you’ll have in the future.

Where to next?

Find your lost super

Find and combine your lost super. It’s quick, easy and could save you paying fees on more than one super account.

Download the Aware Super mobile app

The Aware Super mobile app gives you anywhere, anytime access to your super account.

Simple advice at no cost

Take advantage of simple financial advice over the phone or virtually. Our superannuation advisers can help with questions about your Aware Super account.