How to Consolidate Your Super 2026-27

When You Should (and Shouldn’t) Consolidate

If you’ve changed jobs a few times, chances are you have more than one super account — each charging its own fees and possibly its own insurance premiums, all draining the same retirement savings. Moneysmart puts Australia’s lost and unclaimed super at almost $19 billion, and multiple forgotten accounts are exactly how it happens. Consolidating everything into one account you actually watch usually means fewer fees, one set of insurance, and a balance that’s easier to grow on purpose.

Two situations call for a pause before consolidating. First, insurance: closing a fund cancels any life, TPD or income-protection cover you hold through it — and a new fund may not offer the same cover, especially if your health has changed. Keep the old cover until replacement cover is confirmed in writing. Second, defined benefit accounts: some offer valuable guarantees, and once you roll out you usually can’t rejoin. If either applies to you, get advice before you move anything.

Three Ways to Consolidate

Option 1 — myGov (fastest, most common):

1. Sign in at my.gov.au (create an account if you don’t have one) and link the Australian Taxation Office service.
2. Open the ATO section and go to the Super area — every account held in your name is listed there, including ones you’ve forgotten and any ATO-held lost super.
3. Choose the account you want to keep, then transfer the balances of the others into it. The transfer request takes minutes.

Option 2 — through the fund you’re keeping: most funds have a “combine your super” or rollover tool in their app or member portal. Give them the details of your other accounts and they do the chasing — funds are motivated, since they keep your balance.

Option 3 — ATO rollover form: if you can’t use myGov, you can request a rollover between funds using the ATO’s paper rollover form — ask either fund or search “rollover initiation request” — and lodge it with the receiving fund.

What You Need

• A myGov account linked to the ATO — this is the master view of every account in your name
• Your tax file number (used to match your accounts)
• The member and fund details of the account you’re keeping (your fund’s app or a recent statement has them)
• Written confirmation of replacement insurance, if you’re carrying cover across

How Long It Takes

The myGov request itself takes minutes. The transfer between funds is typically completed within days, though allow a few weeks for everything — final earnings, exit processing, insurance confirmation — to settle. Once the old account hits zero it closes automatically. Afterwards, tell your employer where your super now lives (a choice-of-fund form from payroll) so future payday contributions land in the right place.

If Something Goes Wrong

If an account doesn’t appear in myGov, it may be held under a slightly different name or an old address — contact the fund directly with your TFN. If a transfer stalls, chase the receiving fund first; they can follow up the rollover on your behalf. And if you find ATO-held money listed as lost or unclaimed super, you can claim it back into your active account from the same myGov screen — some people find money they didn’t know they had.

Frequently Asked Questions

Does consolidating cost anything?

Funds can no longer charge exit fees on rollovers, though a closing account may deduct final administration costs and any buy-sell spread on selling your investments. Against years of duplicated fees, consolidation almost always wins — the real cost to check is lost insurance, not the transfer.

Which account should I keep?

Compare fees, investment performance and the insurance you’d keep — your fund statements and Moneysmart’s guidance on choosing a super fund cover how. Bigger balance doesn’t automatically mean better fund; keep the one you’d choose fresh today, then move everything into it.

Will consolidating affect my contributions caps?

No. A rollover between funds is not a contribution — it doesn’t touch your $32,500 concessional or $130,000 non-concessional caps. Only new money entering super counts toward them.

I think I have super from a job years ago but can’t find it — what now?

Start with the myGov super screen — it lists every account matched to your TFN, plus any ATO-held amounts. If a very old account was transferred to the ATO as unclaimed money, the claim happens right there. The forgotten-super check takes two minutes and is the single most profitable admin task most workers ever do.

Also in Australia:

• Super Guarantee Calculator
• Contribution Caps Table
• Net Pay Calculator
• Take-Home Pay

⚠️ This is general information, not financial, tax or legal advice. KnowMyGovt is an independent service with no affiliation with or endorsement by the ATO, ASIC or the Australian Government, and is not responsible for decisions you make based on it.