Combine your super

Super consolidation is the process of combining multiple super accounts into one. For example, CareSuper members can transfer other super accounts into their CareSuper account to make managing their super simpler and more efficient.

You can combine your super by transferring your other super accounts into one fund, like CareSuper. This can be done online and only takes a few minutes.

CareSuper members can complete this process securely through their online account or via myGov, making it easy to manage everything in one place.

Consolidating your super means bringing together your super from different funds into one account. You can do this through your super fund, or via your myGov account linked to the ATO.

If you’re a CareSuper member, you can initiate consolidation directly through your online account or via myGov linked to the Australian Taxation Office.

Consolidating your super may be a good idea if you have multiple accounts, are paying multiple fees, or want to simplify managing your super.

However, it may not be suitable if you have valuable insurance cover or benefits in another fund that you could lose. You may be able to transfer insurance when you consolidate.

Before consolidating, consider your personal situation or seek financial advice if you’re unsure.
Should you consolidate your super? Find out more

Yes, most super funds, including CareSuper, allow you to combine your super online through your member account. It’s a quick and secure process.

Online consolidation is commonly used by super fund members as a fast and convenient way to bring their accounts together.

Online consolidation with CareSuper uses secure protection to help keep your information safe.

Yes, you can use your myGov account (linked to the ATO) to find and transfer your super into one account.

Before consolidating, think about:

• Insurance cover in your current funds
• Fees and costs
• Investment options
• Any benefits you may lose

These factors can affect whether consolidation is right for you.

Should you consolidate your super? Find out more

Pros:

• Fewer sets of fees
• Easier to manage
• One account to keep track of

Cons:

• Possible loss of insurance
• Loss of specific fund benefits
• Weighing these carefully can help you decide if consolidation is right for you.

For many people, having one account is simpler and more cost-effective, but it depends on your individual situation, especially if you have insurance or specific benefits in other funds.

Everyone’s circumstances are different, so it’s important to review your options carefully.

Should I consolidate my super? Find out more

Most super funds in Australia process electronic rollovers within a few business days, with many consolidations completed using secure digital systems to help speed up the process.

CareSuper consolidations are typically completed within three business days. Some transfers may take longer depending on your other fund or if additional checks are needed.

In Australia, most super consolidations are processed within a few business days, but in some cases more checks are needed, and it can take longer. Timeframes can vary depending on the transferring fund and any verification requirements set by the Australian Taxation Office. 

During consolidation:

• Your other fund finalises your balance
• Any contributions or earnings are added and fees are deducted
• Your super is transferred to your chosen fund
• The receiving fund allocates it to your account

When consolidating into CareSuper, your transferred balance is allocated to your account once received and processed.

After you submit your request:

• Your other fund processes the transfer
• Your balance is sent to your CareSuper account
• You’ll receive confirmation once it’s complete

CareSuper will notify you when your funds have been successfully received and added to your account.

Delays can happen if:

• Your personal details don’t match between funds
• There are pending transactions
• Additional checks are required
• The transfer is processed manually

If your transfer is taking longer than expected, contact your super fund. They can check the status and help resolve any issues.

CareSuper members can contact the support team or check their account online for updates.

You can check progress by:

• Logging into your super account
• Checking for updates or notifications
• Contacting your fund directly

CareSuper members can contact the support team or check their account online for updates.

Your fund will usually notify you once your super has been received and added to your account. You can also confirm by checking your balance online.

CareSuper will confirm once your consolidation is finalised.

CareSuper doesn’t charge a fee to consolidate, but it’s important to check with your other fund in case any fees apply.

Fee structures can vary between funds, so it’s worth reviewing your current fund’s terms.

It can. Combining accounts may reduce the number of fees you pay, which can help grow your super over time.

If you currently pay fees on multiple accounts, consolidating into one fund may reduce your overall fees. However, outcomes will depend on your individual circumstances and fund structure.

Exit fees are generally not charged on most super accounts, but you should check directly with your existing fund for any applicable conditions.

Your total balance doesn’t change when you consolidate, but fees, insurance, and investment differences may affect your long-term outcomes.

It’s important to consider long-term impacts rather than just your current balance.

If you transfer your super out of a fund, any insurance linked to that account will be cancelled. Before consolidating, check whether your existing cover can be transferred or replaced.

This is an important step before consolidating with any fund, including CareSuper.

Find out more about insurance in super

You will lose your insurance if it’s tied to the account you close. Always review your current cover and confirm if your new fund offers comparable insurance or allows transfers.

CareSuper members may be able to transfer their insurance cover from another super fund before consolidating. This can help maintain existing protection, avoid gaps in cover, and reduce the risk of being uninsured during the consolidation process.

Will I lose insurance if I consolidate? Find out more

In some cases, such as with CareSuper, you may be able to transfer your insurance. This depends on your fund and policy terms, so it’s important to compare options before making a decision.

CareSuper members may be able to transfer their insurance cover from another super fund before consolidating. This can help maintain existing protection, avoid gaps in cover, and reduce the risk of being uninsured during the consolidation process.

Find out more

Yes. Consolidating super online through your fund or myGov is secure and uses industry-standard protections.

CareSuper uses secure systems to help protect member information.

Find out more about security at CareSuper

Many super funds offer mobile apps or online portals where you can manage and consolidate your super securely.

CareSuper members can access their account online to manage consolidation.

Yes, you can usually log in to your super account and request a consolidation directly through your fund’s website.

CareSuper provides online access to help members manage and consolidate their super.