How to change your super fund

Learn the simple steps for changing super funds.

Ready to switch your super fund? It’s easy, but there are a few important things to check before you make a move. This guide explains the key steps and what to consider, so you can switch with confidence.

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How to switch your super fund

Switching your super is usually a simple process. These are the key steps to follow.

1. Check your current super fund

Before you switch super funds, have the details of your existing account ready. You can find these on your latest super statement. You’ll need to identify:

The fund’s ABN (Australian Business Number) or USI (Unique Superannuation Identifier)
Your current details of insurance cover including beneficiaries
Any salary sacrifice details
Any tax deductions you want to claim for contributions made during the financial year
Fees and costs
Your chosen investment option.

Having this information ready can make the switching process smoother and can help prevent delays.

Not sure who your current super fund is? Go to the ATO website or log in to your MyGov account.

2. Compare and choose

Take time to compare super funds before you make a decision¹. Make sure you:

Check all fees including admin, investment and switching costs
Review the long-term returns for the different investment options
See what investment options are available to suit your needs and appetite for risk
Review insurance cover, including premium costs and any limits or exclusions
Look at support offered to members, such as online tools, education and advice
Know the difference between industry funds, which return profits to members, and retail funds, where profits go to shareholders. Learn more about industry vs retail super funds.

3. Open your new account

Once you’ve found a fund to switch to, you can apply to open a super account online. When applying, you can generally choose your preferred investment and insurance options, and nominate beneficiaries.

Providing your tax file number (TFN) is optional, but you may be taxed more if you don’t supply it. If you provide your TFN, your fund will be able to accept all types of contributions from you.

If you’ve chosen AustralianSuper, find out how to join and open an account. When you join AustralianSuper online, you can also register for online access to your account, making it easy to manage your super.

4. Move your super balance

The next step is to move your super balance to your new fund. If you’ve joined AustralianSuper, log in to your online account, click on 'Transactions’ then 'Consolidate super' and follow the prompts. Once we’ve received your request to consolidate your super, we’ll contact your other super fund(s) to have them rollover your super to us.

When moving your balance, you could also consider consolidating any other super accounts at the same time¹. Learn more about how to consolidate your super.

The benefits of switching super funds

Choosing the right super fund can have a real impact on how your retirement savings grow over time. Here are some of the key features to look for when deciding whether a fund is right for you¹.

Long-term performance

Strong long-term performance can make a big difference to your super balance over time. Learn more about our super fund performance.

Lower fees and costs

Switching to a fund with lower fees can mean more of your money stays invested. Over the years, this can boost the amount of money you retire with. Learn more about our fees and costs.

Access to investment options

Your financial goals and appetite for risk can change over time. Consider choosing a fund with a range of investment options that allows you to select an investment option that suits you now, and lets you adjust if your needs change. Learn about your investment options.

Support and tools

Choose a fund that offers good customer support, easy-to-use online tools and clear guidance options. See our education, guidance and financial advice options².

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Things to check before you switch

Before you switch to a new super fund, take the time to check a few important details.

Insurance cover

Check the insurance cover of the new fund. Costs, fees, inclusions and exclusions might be different to your current super fund. Also, make sure you won't be without insurance during the switch to your new fund.

Investment options

Make sure you choose a fund that has different investment options that suit your goals, appetite for risk and your stage of life. A quick check now can make a big difference later.

Any costs involved

Super funds don’t charge exit fees, but other types of fees or transactions costs may apply, so make sure you check before you switch.

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Frequently asked questions

How long does it take to switch super funds?

Most transfers between funds are completed within a few business days but it may take longer, depending on the funds involved.
Are there fees for switching super?

Super funds can’t charge exit fees, however there may be transaction or other costs involved.
Will switching affect my employer contributions?

Switching super usually won’t affect your employer contributions, as long as your employer has the details of your new fund.
Can I switch multiple super accounts?

Yes. Consolidating your super can help reduce fees and costs and make it easy to manage a single account¹. Keep in mind that consolidating super accounts into one fund doesn’t automatically transfer any insurance cover you have with other super funds.
Disclaimer
1. Before making a decision to combine your super, consider any fees or charges that may apply, and the effect a transfer may have on benefits in your other fund such as insurance cover. We recommend you consider seeking financial advice. If you wish to claim a tax deduction for personal super contributions, you must lodge a notice of intent to claim a tax deduction with your other fund before you combine your super. Investment returns aren’t guaranteed. Past performance isn’t a reliable indicator of future returns. This information may be general financial advice which doesn’t take into account your personal objectives, financial situation or needs. Before making a decision about switching super funds or joining AustralianSuper, consider your financial requirements and refer to the Product Disclosure Statement (PDS) and Target Market Determination (TMD) relevant to your chosen super fund. AustralianSuper’s PDS and TMD are available at australiansuper.com/PDS or by calling 1300 300 273. A Target Market Determination (TMD) is a document that outlines the target market a product has been designed for. Find the TMDs at australiansuper.com/TMD. AustralianSuper Pty Ltd, ABN 94 006 457 987, AFSL 233788, Trustee of AustralianSuper ABN 65 714 394 898. AustralianSuper insurance is provided by TAL Life Limited (the Insurer) ABN 70 050 109 450, AFSL 237848.
2. There’s no charge for general advice about your super account. The financial advice you receive will be provided by MUFG Retire360 Pty Limited ABN 36 105 811 836, AFSL 258145 and will be their responsibility. Personal advice provided may attract a fee, which will be outlined before any work is completed and is subject to your agreement.