Consolidating Your Superannuation Funds

As you move from employer to employer it is likely that in each instance you have had a seperate superannuation fund set up for you. This may mean that you have more than one superannuation fund holding money in your name. This may result in you paying more fees and also the prospect of loosing contact with your money in the long term.

The good news is that the Perron Group Companies Super Fund will accept roll overs from other superannuation funds, thus allowing you to consolidate all of your superannuation. More good news - Capital Managers are here to assist you with the consolidation of your superannuation funds.

If you would like to consolidate your superannuation funds into one easy-to-manage superannuation fund you need to take the following easy steps.

  • Contact the fund you wish to rollover and ask them to send you the forms to roll over your superannuation. Also ask 3 simple questions:
    • Do they have your Tax File Number listed. If they do not, ask them to forward a Tax File Number Notification Form as well.
    • Does the fund include any Death, Total and Permanent Disablement or Income Protection Insurance. You will need to take this into consideration when you close the account as this benefit will be lost. Contact Capital Managers and we will arrange to replace this insurance prior to the rollover occuring if possible.
    • Does the fund have any exit/withdrawal fees. Most funds today charge a Nil - $50 exit/withdrawal fee however some funds base their withdrawal fees on a percentage basis which means it could be quite costly.
  • Once you receive the forms complete them using the information on your last statement. If you have any problems at all at this point please contact us - we see these forms on a day-to-day basis and are very familiar with them! Once your form is finalised and you have attached any identification requirements the superannuation fund requires, post to the superannuation fund.
  • The superannuation fund will process your paperwork and in due course send the funds to Optimum. You will receive confirmation from Optimum stating that they have received the funds and it has been deposited into your account.

Please remember - Capital Managers are here to help you consolidate your superannuation funds. If you have any problems completing the paperwork, experience lengthy delays or have any queries about the process please do not hesitate to contact our office. We can also advise you on the replacement of any Life insurance, Income Protection or Total and Permanent Disability insurance cover associated with your existing superannuation accounts.