Take your Industry SuperFund with you
Whoever you are, wherever you go, take your Industry SuperFund with you.
Having one super fund that you take from job-to-job is an important step towards a comfortable retirement. If you don’t you could end up with multiple accounts and that means paying multiple fees. It will also be hard to keep track of all your different funds.
Choosing an Industry SuperFund to be that one super account is also an important step. Industry SuperFunds have low fees and strong long-term investment performance. That means more money for you in retirement.
Staying with your Industry SuperFund is easy. Here’s how:
When you start a new job, your employer should ask you the name of your current super fund. If you don’t supply one, they’ll choose one for you.
It’s easy to take your Industry SuperFund with you to a new job. If you’re already a member of an Industry SuperFund:
- Pre-fill our Choice of Superannuation Fund form online with your Industry SuperFund’s details; OR
- Complete your Industry SuperFund’s details on the Choice of Superannuation Fund form that will be provided to you by your new employer; OR
- Obtain a Fund Nomination form from your Industry SuperFund. You can download this from their website or you can give them a call. You can find a link to your Industry SuperFund’s website here.
If you're not a member yet, it’s easy to join an Industry SuperFund and roll your other super funds over.
When selecting a superannuation fund, it’s important to ensure you choose one that meets your needs. Things to consider include:
- Whether the fund has a good track record
- What fees will be charged
- Whether the fund offers a range of investment options
- If it offers life insurance and/or disability cover and how much that costs
- Availability of advice to help you make decisions about your super
You can find details of the 15 Industry SuperFunds here.
Once you’ve decided which fund is for you, you’ll need to apply for an account and membership number. Each fund has its own method of joining up which is really easy. Some allow you to join up online, while for others you’ll have to print out a form, fill it in and send it back. A few days after you submit your application, you should receive a letter from your fund giving you your account number and name, as well as details about your fund which will be required by your employer.
Telling your employer
As soon as you receive your membership details, make sure you tell your employer so that they can pay your super into the right account. All you need to do is:
- Fill out our Choice of Superannuation Fund form online and give it to your employer; OR
- Download and print out the ATO's Standard Choice Form and then give it to your employer.
Consider a fund’s Product Disclosure Statement (PDS) and your personal financial situation, needs or objectives, which are not accounted for in this information, before making an investment decision.