Consolidating superannuation australia companies
Both union and employer organisations were keen to ensure that money invested into superannuation would be protected from high fees and commission products. And more than one account means more than one set of fees. That means only a single set of fees, plus easier account management.
This led to the establishment of trade union-based industry super funds, in competition to the established retail funds. The change came about through a tripartite agreement between the government, employers and the trade unions. Instead, industrial awards negotiated by the union movement provided for businesses to contribute to superannuation funds for and on behalf of their staff. Just follow the instructions below and you'll be on your way to less fees and simpler super admin. This system was not uniform, and superannuation policies were tied to individual awards, which differed from industry to industry.
Care should be taken when consolidating your superannuation as some important benefits and features may be lost. Before you do, get the full picture. Less accounts means less fees Compare the difference. By consolidating your super, you put all of it in one place and with one super fund.
Consolidate with us for less fees and easier management.
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