Commonly asked questions about consolidating your super accounts

Consolidating super funds ato New Super Laws Protecting Your Super The federal government has recently passed new laws that are designed to protect small inactive super accounts and reunite more members with their super. The new rules which take effect from 1 July 2019 will cap the amount of fees that funds can charge to low balance accounts and abolish exit fees, remove automatic insurance from insured accounts when they become inactive, require funds to transfer low balance accounts to the ATO when they are no longer receiving contributions, and permit the ATO to proactively reunite members' lost, inactive and unclaimed super with their active accounts. How will this impact my AUSfund account? ERF balances are typically low, accounts don't receive regular top-ups that would qualify them as 'active' and none of the exclusion activities apply due to the way these funds operate. The ATO will then try to reunite it with your active account, along with any other super they hold for you. If you don't have any other active super accounts to transfer into, you will need to contact the ATO to claim it.

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Of course, your share may be higher or lower than the average depending on your work history. We are here to find and recover your lost super, so just say the magic words. find my super, and we'll do our best to recover the money that is rightfully yours. What is your lost super doing?

Toowards: Super Fusion

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