If you have changed jobs a few times, there is a good chance you have more than one super account open in your name. Each one charges its own fees, and each one can carry its own insurance. Consolidating your super means moving all of those balances into one account, so you pay one set of fees and you can actually see your retirement savings in one place.
The good news is that the transfer itself is simple. Most people can do it online in under half an hour, through my.gov.au. The part that needs care is what you check before you press confirm, because closing an old account also ends any insurance attached to it.
Quick answer
To consolidate your super, sign in to myGov, open your linked ATO service, go to Super, then Manage, then Transfer super. Pick the account you want to keep, select the accounts you want to move, read the insurance warning, and confirm. Transfers are usually processed within about three business days. Before you do it, check the insurance on every account you plan to close, and afterwards tell your employer which fund your future contributions should go to.
What does consolidating super actually mean?
Consolidating super is just a rollover: the balance of one super account is transferred into another super account. Your money is not withdrawn, and it is not paid out to you. It stays inside the super system, in the account you chose to keep.
People usually end up with several accounts because a new employer paid super into a new fund each time they changed jobs. Since late 2021, new employees are generally “stapled” to their existing fund when they start a new job, so accidental duplicates are less common than they used to be. But accounts opened before that change, and accounts people simply forgot about, are still very common.
This guide sits alongside our plain explanation of how superannuation works. If you are not sure whether you even have more than one account, start with our guide on whether you can have two super accounts — it explains how duplicates happen and when keeping two accounts can make sense.
Before you consolidate: the checks that matter
Do these checks first. They take longer than the transfer itself, and they are the difference between a tidy-up and a costly mistake.
1. Check the insurance on every account you plan to close
Most super accounts include some insurance by default, usually death cover, total and permanent disability (TPD) cover, and sometimes income protection. When you transfer your full balance out of a fund and the account closes, that cover ends.
Log in to each fund, or call each fund, and write down what cover each account holds. Then check whether the fund you are keeping offers the same level of cover. If it does not, arrange replacement cover before you close the old account — especially if your health has changed since you joined the old fund, because new cover may be harder to get or may cost more.
2. Compare fees and investment options
Do not automatically keep your biggest account. Compare the account you plan to keep against the others on fees, investment performance over five to ten years (not just last year), and investment options. The right account to keep is the one that serves you best going forward, which is sometimes a smaller account or even a fund you have not used before.
3. Check for contributions about to land
If an employer contribution is due into an old fund this week, let it land first, or ask payroll to redirect it. Otherwise the money can end up in an account you have just closed, and you will have to chase it.
4. Sort out tax deductions first
If you made after-tax contributions to an account you plan to close and you intend to claim a tax deduction for them, submit your notice of intent to claim and wait for the fund to confirm it before you roll the money out. Once the account is closed, you generally cannot make that claim.
5. Note any defined benefit or unusual account
Most accumulation accounts consolidate easily. If any of your accounts is a defined benefit account, or holds benefits you cannot easily replace, get advice before moving it. The same applies if you are unsure about anything in this list — a short chat with a licensed adviser is cheaper than losing cover you needed.
How to consolidate your super through myGov: step by step
This is the fastest route for most people, and it costs nothing out of pocket to do it this way.
- Sign in to myGov. Go to my.gov.au and sign in, or create an account if you do not have one yet.
- Link myGov to the ATO. If you have not already linked the Australian Taxation Office service, do that first. You will need your tax file number (TFN) and some personal details to prove who you are.
- Open the Super section. Inside ATO online services, select Super, then Fund details. This shows all the super accounts recorded in your name, including any you had forgotten about and any ATO-held super.
- Go to Manage, then Transfer super. Select Super, then Manage, then Transfer super. This option only appears if you have more than one account.
- Choose the account to keep. Select the account you want your money to go into, and select the accounts you want to transfer from.
- Read the insurance warning carefully. The system will warn you that transferring may affect insurance held in the accounts you are closing. This is the warning most people click straight past. Do not — check it against the insurance notes you made in the checks above.
- Confirm the transfer. Submit your request. The ATO passes the instruction to your funds, and the money is usually rolled over within about three business days.
- Check that it arrived. Log in to the fund you kept after a few days and confirm each balance has landed. Keep the confirmation messages until you have seen the money in the new account.
How to consolidate into a brand new fund
If none of your existing funds is the one you want to keep, the process is only slightly different:
- Join the new fund first. Choose your new fund and join as a member. You will get a member number.
- Start the rollover from the new fund. Most funds let you do this in their member portal or app: enter the details of your old funds and ask the new fund to pull the balances across. You will need each old fund’s name and your member number there.
- Or use myGov. Once the new account appears in your ATO online services, you can use the same Super, then Manage, then Transfer super path described above.
- Tell your employer. Give your employer your new fund’s details so future super guarantee contributions go to the right account. You can do this with a standard choice form from your employer or payroll team.
After you consolidate
- Tell your employer. This is the step people forget. If you do not update your fund details, your next employer contribution could open a brand new account with the old fund all over again.
- Confirm the old accounts are closed. Check that each old account shows a nil balance or a closed status, and that no further fees or insurance premiums are being deducted.
- Review the account you kept. Now that all your super is in one place, it is worth reviewing the investment option and insurance level once a year. Our guide on the best ways to grow your super covers the simple moves that make the biggest difference.
- Keep your details up to date. Most “lost” super starts with an old address or an old phone number. Update your contact details with your fund whenever you move, so the fund never loses touch with you.
What if an account does not show up?
If you know you had an account but it is not listed in ATO online services, it may be because the details the fund holds for you do not match the details the ATO holds — a different name spelling, for example, or an old address. Update your details with both the ATO and the fund, then check again.
You can also phone the ATO’s automated lost super search line on 13 28 65 with your TFN handy, or phone the superannuation enquiries line on 13 10 20 if you need to speak to someone. Searching through the ATO is free — never pay a service to find your super for you.
Frequently asked questions
Does consolidating super cost anything?
Doing the rollover itself is generally free, and funds can no longer charge exit fees. You may still see small costs like buy-sell spreads when investments are sold and repurchased, but for most people the saving from paying one set of administration fees instead of two or three outweighs that quickly.
Will I lose my insurance if I consolidate?
You will lose the insurance attached to any account you close. That is why the insurance check comes before the transfer, not after. Make sure the account you are keeping gives you the cover you need, or arrange replacement cover first.
Can I consolidate lost or ATO-held super?
Yes. Accounts reported as lost, and money the ATO holds for you as ATO-held super, both show up in ATO online services under Super, then Fund details. From there you can transfer them into an eligible super account using the same Transfer super option.
How long does a super consolidation take?
Most rollovers are processed within about three business days once the request is submitted, although it can take a few days longer if details do not match between funds. Check the receiving account after a week, and follow up with the fund if a balance has not arrived.
Should everyone consolidate into one account?
For most people, yes — one account means one set of fees and one balance to manage. The exceptions are people who deliberately hold a second account for a reason, such as keeping a particular insurance policy, or holding a defined benefit account that should not be moved without advice.
Do I need to tell my employer after consolidating?
Yes, if your chosen fund is different from the one your employer is currently paying into. Give payroll your new fund’s details so future contributions land in the right account and you do not accidentally start a new duplicate account.
