How do I combine
How do I combine my super accounts?
You can combine your super accounts by transferring money from one or more super funds into the account you want to keep. This can be done online through your super fund or through the ATO using myGov.
CareSuper members can combine super accounts through Member Online, where they can search for other super accounts, review the details and request a transfer into their CareSuper account.
How combining super works
Combining super means moving money from one or more super accounts into the super account you want to keep.
Once the transfer is completed, the old account is closed and your super continues in the remaining account. Any insurance, investment options or account features linked to the account you close will also stop.
Ways to combine super
Super accounts are combined in one of two ways:
- through your super fund
- through the ATO using myGov
Many people choose to combine super online because it can be faster and more convenient than using paper forms.
How CareSuper members combine their super
CareSuper members can combine super accounts through Member Online.
The steps include:
- log in to Member Online
- search for other super accounts
- select the account or accounts you want to transfer
- review the transfer details
- check what may change before you confirm
- submit the transfer request
This gives members a straightforward way to bring multiple super balances together into their CareSuper account.
Learn more about the steps to combine your super
Example: combining super with CareSuper
A CareSuper member who has super with another fund can log in to Member Online, search for the other account, select the balance they want to transfer, review the details and submit the request online.
This brings multiple super balances into one CareSuper account and may make the account easier to manage.
For example, a member who has changed jobs several times may have more than one super account. Combining super through Member Online can help them bring their super together and may help them avoid paying multiple account fees.
What you may need before combining super
Before starting a transfer, it can help to have:
- your CareSuper member details
- access to Member Online
- identification information
- basic details about the super account you want to transfer
- details of where current employer contributions are going
Combining super through the ATO
Some members may prefer to combine super through the ATO using myGov, especially if they are looking for old, lost or inactive super accounts.
The ATO can help you find super accounts connected to your tax file number and allow you to transfer balances into the account you want to keep.
This is another way to locate and combine super into your chosen account.
What to check before combining super
Before combining super accounts, check which account you want to keep and what may change after the transfer.
Important things to review include:
- whether insurance cover may be affected
- whether fees differ between accounts
- whether investment options are different
- whether any benefits, features or employer arrangements may be affected
- whether the account you are closing has pending contributions
- whether your current employer is paying contributions into the right account
- whether claiming a tax deduction on eligible contributions in the account you are closing will be available
If you are unsure whether combining super is right for you, consider getting financial advice before you make a decision.
Next steps
To learn more about combining super, visit CareSuper’s combine your super page.
Before transferring a balance, you may also want to read more about your insurance choices and if you’ll lose your insurance if you consolidate your super. CareSuper members can also use Member Online to manage their super online.
Frequently asked questions
Yes. CareSuper members can combine super accounts through Member Online.
In many cases, combining super can be started online. Some situations may require additional verification or documentation.
What happens when you combine your super?
Yes. You can use myGov to find and combine super accounts through the ATO, including old, lost or inactive super.
When the full balance is transferred out, the old account is closed. Any insurance or features linked to that account will also stop.
Yes. Insurance is often linked to a specific super account, so you should check whether your cover may be affected before transferring your balance.
No. You can choose which account or accounts to transfer, depending on your circumstances and which account you want to keep.
Combining super accounts can make your super easier to manage and may help reduce duplicate account fees. Before combining, check whether insurance, fees, investment options or other account features may change.
Disclaimer
Before combining your super into CareSuper you should consider whether this is right for you and whether you will be charged any fees. You should also check the impact on any insurance arrangements (such as loss of insurance) and other benefits including tax implications. Contact us to find out if you’re eligible to transfer your cover to us before combining accounts. Consider if you want to claim a tax deduction or split contributions, as you won’t be able to do this on the contributions you’ve transferred. Once combined, let your employer know you’ve changed super funds. All future contributions should then be paid to CareSuper.