How do I consolidate my superannuation accounts?

Having multiple superannuation accounts can be a headache. Keeping track of fees, monitoring performance, and rebalancing contributions all become more complex with each additional account. Fortunately, there’s a solution: consolidation. By merging your super into a single account, you can streamline your superannuation management and potentially boost your retirement savings.

This article provides a comprehensive guide on consolidating your superannuation accounts in Australia. We’ll cover the benefits, key considerations, and the two main consolidation methods: using the Australian Taxation Office (ATO) online services and contacting your chosen super fund directly.

Why Consolidate?

The advantages of consolidating your super are numerous:

  • Reduced Fees: Multiple accounts often incur multiple sets of fees, eroding your long-term returns. Consolidation minimises these charges, allowing your super to grow faster.
  • Simplified Management: Tracking a single account is significantly easier than juggling several. Consolidation saves you time and effort, allowing you to focus on other financial goals.
  • Improved Diversification: When spread across multiple accounts, your super may lack proper diversification. Consolidation allows you to invest in a broader range of assets within your chosen fund, potentially reducing risk.
  • Easier Rebalancing: Rebalancing your super to maintain your desired asset allocation becomes simpler with a single account. This ensures your super stays on track with your retirement goals.

Before You Consolidate

Before merging your super, consider these factors:

  • Choose the Right Fund: Select a super fund that aligns with your investment goals, risk tolerance, and fee structure. Research available options and compare their features.
  • Check for Exit Fees: Some super funds may charge exit fees for transferring your balance. Factor these fees into your decision-making process.
  • Insurance Considerations: Consolidating may affect any insurance cover linked to your existing super accounts. Ensure your chosen fund offers suitable insurance options.
  • Lost or Inactive Accounts: The ATO can help locate lost super accounts. Consolidating inactive accounts with minimal balances can be particularly beneficial.

Consolidation Methods

There are two primary methods for consolidating your super:

  • ATO Online Services (myGov): This is the most convenient option. You can initiate transfers directly through the ATO’s online services platform, myGov. Here’s how:
    1. Create or log in to your myGov account.
    2. Link your myGov account to the ATO.
    3. Navigate to “Super” and then “Manage.”
    4. Select “Transfer super” (this option will only appear if you have multiple accounts).
    5. Choose the receiving super fund (the one you want to consolidate into) and the accounts you wish to transfer.
    6. Follow the on-screen instructions to initiate the transfer.
  • Contacting Your Chosen Super Fund: You can initiate the transfer process directly with your chosen super fund. This method typically involves:
    1. Contacting the chosen super fund and requesting a transfer form.
    2. Completing the form with details of the accounts you want to transfer.
    3. Returning the completed form to the chosen super fund.
    4. The chosen super fund will then contact your other super funds to initiate the transfer process.

Important Considerations

  • Transfer Timeframes: Transfers generally take around 30 business days, but this can vary depending on the super funds involved.
  • Tax Implications: Superannuation rollovers are generally tax-free within Australia. However, it’s recommended to consult with a financial advisor for personalized advice.
  • Partial Transfers: While the ATO online services only allow transferring entire account balances, contacting your super funds directly may allow for partial transfers.


Consolidating your superannuation accounts can significantly simplify your financial management and potentially improve your long-term retirement outcomes. By understanding the benefits and following the steps outlined above, you can streamline your super and take control of your financial future. Remember, thorough research and careful consideration of your personal circumstances are crucial before initiating any consolidation process.


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