If you’ve changed jobs or addresses during your career, you may have ended up with multiple super accounts. You’re not alone – millions of Australians do too. It’s one of the reasons the Australian government introduced super stapling, which means your super automatically moves with you if you change jobs in the future.

If you do find yourself with multiple super fund accounts, consolidating them into one single Hostplus account may provide a host of positives.

Multiple super accounts means multiple sets of fees. Reducing the fees you pay helps to maximise the amount you can invest and, depending on your situation, may help you save on insurance premiums too. Hostplus has one of the lowest admin fees out of any MySuper product.¹

Consolidating into one account may reduce the amount of time you spend managing your super – saving you time as well as money. And with less time on paperwork, you’ve got more time for the things that really matter to you.

There’s a lot to consider when thinking about whether consolidation is right for you. Don’t act solely on the information provided here, as we’ve not taken your personal situation into account. 

Before consolidating, compare the fees, performance and other features of each fund and check whether you’ll lose any benefits or be charged a fee for closing an account.  Importantly, if you do close an account, you’ll lose any insurance attached to that account.

You may find it beneficial to obtain advice from a licensed financial adviser.

Want advice on whether consolidating your super is right for you? Get in touch.