Consolidating superannuation funds keeps retirement assets in one place for convenience and saves money on fees charged by each fund administrator. To consolidate funds, you must perform a rollover so the money isn't treated as a taxable distribution. Most superannuation funds make rollovers very simple and can even help you locate lost superannuation funds if you have lost track of one. Don't rollover funds blindly, though; you may lose certain insurance benefits by doing so.
Instructions
1. Call your previous superannuation fund plan to confirm you are not losing any benefits by rolling assets over.
2. Call your superannuation fund administrator. Request paperwork to rollover funds into the plan.
3. Complete the rollover form with your identifying information including name, Tax File Number, address and phone number.
4. Include your previous superannuation fund information and a copy of the most recent statement.
5. Sign and submit the form. Your superannuation fund administrator will do the rest.
