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Consolidate your super for a cash-filled future

Contributing to your super is probably one of the most financially responsible things we can do. WE are heavily encouraged by the Government to make regular payments.

In fact every time you start a new job your super details are required. But how many super funds have you joined up to? Chances are, more than one.

Over 5 million Australians have lost some of their superannuation, and that’s just not right! For Australian workers, it’s not uncommon to end up with up to 10 different superannuation accounts.

You don’t want to be paying fees to different funds when you only need to be paying once. Why should you be applying for payday advances when the couple of hundred you need is yours for the taking.

Just like a leaking tap, this is a sure-fire way to slowly-but-surely watch your money go down the drain. With almost $10 billion in lost super funds lying around unclaimed, the most effective way to recover your retirement fund efforts is to consolidate your superannuation accounts.

Here’s how you can do it…

- Compile a list of all your superannuation accounts

- Compare the pros and cons of each and every one

- Decide which is the one that you want to consolidate your accounts into

According to Australian bylaw, all Australian workers are entitled to have accounts with any ‘open’ super fund, which includes some of the big industry funds. These funds typically have lower fees than most retail funds, so you’ll be better off in the long run.

If you’re struggling to compare (or just can’t be bothered), head to www.superannuation.asn.au where you can use the Association of Super Funds of Australia Ltd (ASFA) funds calculator.

The next step is to start moving your different funds accounts into the one account of your choice. It can be easy to become uninterested at this point, as it can sometimes be a bit of work. But stick with it. You don’t want to be scrambling for payday cash loans for the rest of your retired life because all your fund fees ate your super up!The easiest way is to go to the fund provider that you intend to stay with. A lot of the time they will be happy to do a lot of the work for you.

So be proactive, educate yourself on your finances, and consolidate your superannuation funds so you can have the retirement you deserve. You want to be the one with enough cash to be handing out the payday loans- not the other way around!

After helping Australians out with payday cash advances for over two years, <a rel=”nofollow” target=”_blank” href=””Payday”>http://www.paydayonline.com.au””>Payday Online know what matters.
If you don’t have the time to mess around with forms or time to waste waiting for overnight money transfers, then we’re here to help. We welcome everyday Australians to use our service at their convenience, for a quick, safe and hassle free cash injection in less than an hour. Check us out today at http://www.paydayonline.com.

Article Source:http://www.articlesbase.com/personal-finance-articles/consolidate-your-super-for-a-cashfilled-future-842479.html

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April 1st, 2009 | Category: Personal Finance | 1 Comment »
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