There's around $16 billion in lost and unclaimed super across Australia¹.

It can be easy to lose track of super from past jobs. Searching and bringing your super into one account:

• means you’re not paying unnecessary additional fees and potentially multiple insurance premiums
• makes it easier to keep track of your super balance
• could boost your super balance in the long term.

Bring your super together in three easy steps

Things to consider

Insurance and other benefits
It’s important to check whether you’ll lose any existing insurance cover or other benefits after bringing your super funds together and whether your remaining cover is sufficient. Once you consolidate your super, any insurance cover in your other super accounts will be cancelled.

You may not be able to claim upon multiple insurance policies, so consider whether you need more than one policy or whether you can get enough insurance through one super fund. If you have insurance in your other super account and would like to transfer that cover to us, you’ll need to submit a Transfer your insurance cover form and receive confirmation from us that your cover has been transferred before combining your super.

Contributions to super
Check where any contributions are being paid for you so that they’re being directed to an account you want to keep open.

If you’ve made personal super contributions to your other fund and wish to claim a tax deduction, you’ll need to lodge a notice with them and have it acknowledged or confirmed before combining your super.

Cost of transferring 
You should check if fees or costs will be charged in the super account you’re transferring from, for example a buy-sell spread or capital gains tax may apply when transferring.

1. Australian Tax Office, 27 February 2023, ATO Super data: lost, unclaimed, multiple accounts and consolidations, accessed 28 February 2023.
2. Note: if the ATO‘s SuperMatch service is not available, we will not be able to search for your other super account(s).

Important Information
The information on this page has been prepared by IOOF Investment Management Limited (IIML) ABN 53 006 695 021 AFSL 230524 as trustee of the IOOF Portfolio Service Superannuation Fund ABN 70 815 369 818 (IOOF Super).

It contains general advice only and does not take into account your financial circumstances, needs and objectives. Before acting on any of this information, you should consider whether it is appropriate to your objectives, financial circumstances and needs, and seek appropriate professional advice. It is recommended that you consider the relevant Product Disclosure Statements (PDS) and Target Market Determinations (TMD) before you make any decisions about your superannuation. You can obtain a copy of the TMD and PDS from our website.

Before consolidating your super or contributing to your IOOF Super account, you will need to consider whether there are any adverse consequences for you, including loss of benefits (eg insurance cover or loyalty benefits), investment options and performance, functionality, increase in investment risks and where your future employer contributions will be paid.

Information is current at the date of issue and may change.