Want to turn 20 minutes into $20,000?

Take a look at the example below, which shows how someone who takes a few minutes to consolidate their super could be $21,931 better off at retirement age.

More money for your retirement…

John is 35 and has total super of $30,000 spread across five funds, each with a balance of $6,000. Suzie, also age 35, has consolidated into one super fund and has a balance of $30,000. They both pay an annual administration fee of $100 per fund.

On retirement at age 65, Suzie would have an extra $21,931*, just because she took the time to consolidate. That’s enough for a new car or a European holiday!

…and less time spent on your super

Spending a little time now could save you lots of time in the future:

  • Less paperwork. Receive just one super statement each year.
  • Less hassle.With all your super in one place, it’s easier to keep track of your investment performance and insurance cover.
  • Fewer decisions. Once you’ve chosen an investment option, you can be sure all your super is working towards the same goal.

Read more about how you can consolidate your super.

Lost your super?

If you’ve been working for a while and have had several employers, there’s a chance you’ve got money in a super fund somewhere that you’ve forgotten about. To find out, click on the SuperSeeker link at www.ato.gov.au.

Why consolidate into Suncorp WealthSmartTM?

Suncorp WealthSmart is an award-winning super fund whose benefits include:

  • Flexible, cost-effective insurance options
  • Competitive fees with discounts for family linking or larger balances
  • Flexible investment options with custom-built multi-manager portfolios
  • If you change jobs, it’s easy to take your Suncorp WealthSmart account and insurance with you.

Need help?

If you’ve got any questions about consolidating your super, or would just like to talk to someone about reaching your retirement goals, please contact us on
13 11 75 or by clicking here.

We’ll be happy to help.

Read more about how you can consolidate your super.

*Assumptions: Each super fund earns a rate of return (ie before earnings tax but after administration fees) of 7.95% p.a. The administration fee is applied at the beginning of the financial year, and is $100 per annum per fund. Earnings are calculated at the end of the financial year. Retirement is at age 65. Figures are expressed in today’s dollars.

Important information
Before moving your super you should consider the effect it may have on any insurance cover within your super, and other possible implications such as termination penalties, investment and tax issues.
This information is issued by Suncorp Portfolio Services Limited ABN 61 063 427 958 AFSL No 237905 (SPSL) and is current as at 1 March 2011. It is provided as a brief overview only and has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, all persons should consider its appropriateness having regard to their own objectives, financial situation and needs. Persons should obtain, read and consider the relevant Product Disclosure Statement (PDS) before making a decision about whether to acquire or continue to hold any product.

Tags: Super