How To Guide: Forgotten Super? How to amalgamate all your superannuation back in Australia.

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Picking up a new job is always an exciting time in life, meeting new colleagues, trying to remember everyone’s name, contracts, paperwork and HR inductions. It can be easy to forget which one of the almost 500 super funds your new company uses and even easier to forget if it was the same fund as your previous employer.

It’s not unusual to end up with 4-5 different super funds floating around in the ether over your working career, some that may be being eaten up by fees, or even worse, poor performance.  This quick and easy guide will get all your superannuation into the one place and might even uncover a forgotten superannuation. This will make it much easier to stay in touch with your retirement pot and puts one of your most important assets right at your fingertips. Finally and most importantly, being in charge of which super fund your retirement is relying on will allow you to pick the best performing funds that suit your own risk/return profile.

Before you make the move:

While the process is super easy, there are certain considerations to take into account before making the move.

  •  One of the most important questions is “am I in a defined benefit (DB) scheme?” DB schemes are those that will pay you a set amount of money every year until you pass away, they are generally tied into the last few years of your income and are very rare to come across. They are usually reserved for upper management. If you think you are in a DB scheme you should e-mail your super provider for confirmation or speak with your employers finance/accounting team.
  •  Are there any termination fees
  • Will you be able to get the same level of insurance in your chosen fund (when transferring funds you might have the option to take the insurance with you, or comparable insurances with new provider)
  • That your employer can contribute to your chosen fund

Picking a fund:

Now that you have covered the considerations, it’s now time to look for your perfect super fund and keep the following in mind.

  • Fees: The lower the better
  • Investment options: Make sure there are options that suit your needs and comfort with risk
  • Extra benefits: Your employer may pay more than 9.5% for certain super funds or if you make extra contributions yourself
  • Performance: Pick a fund that has performed well over the last 5 years – do not chase last year’s best performer
  • Insurance: See what cover is available and what it will cost
  • Service: Call the fund or browse their website to see what other services they offer.

Below is a list of the top 10 superannuation funds over the past 5 years.


Open an account:

Once you have selected your super fund it’s time to open an account with them, this is as easy as sending them an e-mail to their website and putting in an enquiry. Once you have received an e-mail back

  • Tell your employer: If you are still working for an Australian company that is making contributions into your super, make sure you tell them your new account and where to put future premiums.
  • Create a MyGov account:

1.   Log onto mygov.com.au

2.    Register your details.

3.    Put in your TFN

4.    You need an Australian mobile number that they will SMS a verification code to, if you’re out of country then use a trusted friend/family member, then disable SMS service once registered.

Transfer Your Super:

  1. Log into your mygov account.

2. Go to ‘services’ and link your ATO account.

3. Head to the ATO portal within your MyGov account


  1. Under the Super tab, head to “transfer super” and simply follow the promptsOnce it is all completed you should get an e-mail from the fund welcoming you and all your details should be updated.

Congratulations! You now have all your super in the one easy to reach place and you can keep an easy eye on how your retirement pot is going.

*This publication has been carefully prepared, but it has been written in general terms and should be seen as broad guidance only. The publication cannot be relied upon to cover specific situations and you should not act, or refrain from acting, upon the information contained therein without obtaining specific professional advice I do not accept or assume any liability or duty of care for any loss arising from any action taken or not taken by anyone in reliance on the information in this publication or for any decision based on it.

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