Take a little time to make the most of your super earnings by keeping them all together in your HOSTPLUS account.
It's quite simple - by having money in more than one super fund your retirement savings are being eaten up by multiple sets of fees. Getting all your super into one account with HOST
PLUS means that you only pay one small member fee (investment fees also apply).
Remember that HOSTPLUS does not pay commissions or fees to agents or dividends to shareholders. After taxes and investment charges are deducted from investment returns, all profits are reinvested.
Minimise paperwork
By keeping your super together, you only have one account, one set of fees and one membership number to think about. And only one phone number to call if you have any questions. It doesn't get any easier than that.
By keeping all your superannuation in one fund, you can earn interest on one larger account balance. Combining your super also means that you can focus more on how your super is invested, which can lead to greater returns.
And the best part of it all - it's easy. Here's what you do:
Step 1. Find out where your other super is. You'll need the name of your old fund and your membership number. Start by gathering the statements of all your super funds. If you can't find them, call your previous employers. They will be able to tell you which funds your super was paid into.
How to find your lost super
There's over $10 billion in lost super in Australia held in over eight million accounts. That means that up to 8 in 10 working Australians could have lost super. It could be you! It's easy and free to look for it. You can contact the Lost Members Register at the Australian Taxation Office (phone 13 10 20) or go to
www.unclaimedsuper.com.au. If you dropped $20 down the back of the couch you'd look for it, wouldn't you? So why not take two minutes to find your lost super, it's your money after all.
Step 2. Call HOSTPLUS on 1300 HOSTPLUS (1300 467 875) or download the member's authorisation to rollover superannuation to HOSTPLUS form (222KB).
Step 3. Send your completed form(s) to HOSTPLUS. That's it. HOSTPLUS will contact your old fund and arrange for your money to be deposited into your HOSTPLUS account. Important note : before you close any of your existing super accounts, you should check to see if there are any exit fees or penalties and whether the cancellation will affect any related insurance cover. If there are any exit fees or penalties it may still be beneficial over the long term to transfer the amount to HOSTPLUS. To help with your assessment you may like to utilise the free 'rollover' service available to members through Industry Fund Financial Planning, a business operated by Industry Fund Services Pty Ltd, an Australian Financial Services License. We can refer you to such a person - please call 1300 HOSTPLUS (1300 467 875)or click here for more information.