Your Future, Your Super



Consolidating your super – what’s it all about?



Paul Watson, Group Executive, Member Experience



With the Your Future, Your Super (YFYS) changes now in place, it’s worth thinking about combining all your super accounts into one.

What does it mean to consolidate your super?

Consolidating (or ‘rolling over’) your super means combining all your super from multiple accounts into one fund and closing your other accounts to save paying several sets of fees and help make it easy to keep track of your super.

Why would you have more than one super account?

If you’ve had more than one job, chances are you have more than one super account. Having multiple accounts can happen when you change jobs, and your employer joins you into a new fund (called their ‘default’ fund). Or, you could have an old account from a long-forgotten job. Either way, having multiple accounts could mean you’re paying multiple fees, and possibly insurance premiums, which could be eating into your retirement nest egg.

What’s consolidation got to do with Your Future, Your Super?

An important part of the YFYS changes is ‘stapling’, which began on 1 November 2021. It aims to reduce the number of super accounts you’ll have over your working life. Instead of having a new super account opened for you every time you change jobs, you’ll be ‘stapled’ to your current super fund which will automatically move with you from job to job.

But stapling only means that you won’t have a new account opened for you when you change jobs. It doesn’t automatically close or consolidate any existing accounts you may already have had before 1 November 2021.

Having one super account makes it easy to keep track of your super. Plus, you’ll only ever pay one set of fees and costs, meaning you’ll have more savings in your super account to invest and grow.

If Hostplus is your current super provider, you’ll most likely be stapled to us. And, unless you chose another fund in the future, we’ll follow you when you change jobs in the future too. This means you’ll continue to enjoy all the benefits of our competitive performance, flexible insurance offerings and the freedom to choose the investment option that best suits your needs.

You can find out more on our website hostplus.com.au

However, if you have other super accounts, and would like to move these to your Hostplus account – which is known as consolidating your super – there are a few important things to consider before doing so.

Before you consolidate

1. Do a little research first.

Lots of people don’t pay much attention to their super and may think that all funds are the same. But they’re not. Find out what you can about the fund you’d like to roll into. Does it have low fees? Does the fund have a proven history of competitive long-term returns? Does it offer competitive and flexible insurance cover that suits you, and does it offer a range of investment options that meets your risk profile, preferences and in ways that aligns with your values?

It’s important that you’re happy with your stapled fund, and importantly, that it’s performing well and offers value for money. After all, this may well be the fund that your super contributions will be paid into over your working life (unless you decide to change it).

The YourSuper tool , set up by the government to help you compare funds, can also help.

2. Check the fine print.

When you’re ready to consolidate your super, check with your existing super fund(s) as to whether there are any fees or charges that may apply when exiting the fund, or if there’s any loss of benefits (such as insurance cover). If you have insurance cover with another super fund, you may be able to transfer that cover to Hostplus.

3. Consider obtaining advice.

Speaking with a licensed superannuation adviser or financial planner can help you get the most out of your super savings.

If you’d like some advice before you consolidate, you can talk to our dedicated phone-based Advice team or an experienced Hostplus Financial Planner, if your circumstances and needs are a bit more involved. Your options include:

How do you consolidate your super into Hostplus?

We’ve made consolidating your super easy. Simply log in to your Member Online account, enter the details of your other super accounts and we’ll help with the rest – and at no extra cost to you.

Consolidate now

We’re here to help

If you have any questions about consolidating, or anything else about your super, contact us online or call us on 1300 467 875.


*Hostplus has engaged Industry Fund Services Limited (IFS) ABN 54 007 016 195, AFSL 232514 to facilitate the provision of personal financial advice to members of Hostplus. Advice is provided by financial planners who are Authorised Representatives of IFS. Fees may apply. Further information about the cost of advice is set out in the relevant IFS Financial Services Guide, a copy of which is available from your financial planner.  
^Hostplus has engaged Link Advice Pty Ltd ABN 36105 811 836, ASFL 258145 to facilitate the provision of limited personal financial advice to members of Hostplus via the web-based product SuperAdviser. 
#Hostplus Superannuation Advice Consultants are Authorised Representatives of Link Advice Pty Ltd ABN 36 105 811 836,ASFL 258145and facilitate the provision of limited personal advice about Hostplus products to Hostplus members through Super Adviser. To obtain a Link Advice Financial Services Guide please visit linkadvice.com.au/docs/Link_Advice_FSG.pdf. Link Advice is responsible for any advice obtained through Super Adviser.
This information is general advice only and does not take into account your personal objectives, financial situation or needs. You should consider if this information is appropriate for you in light of your circumstances before acting on it. Please read the relevant Hostplus Product Disclosure Statement (PDS), available at hostplus.com.au before making a decision about Hostplus. For a description of the target market, please read the Target Market Determination (TMD), available at hostplus.com.au/ddo.